The Real Deal Miami

Penthouse at 321 Ocean sells for $20M

Reportedly sold for $3K per square foot

March 04, 2015 12:35PM
By Katherine Kallergis

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Renderings of 321 Ocean

Renderings of 321 Ocean

A penthouse unit at 321 Ocean in the South of Fifth neighborhood in Miami Beach sold for $20 million, The Real Deal has learned.

The oceanfront penthouse, a 6,800-square-foot penthouse with a private balcony, terrace and private pool, reportedly sold for $3,000 per square foot.

321 Ocean, which is being developed by Aria Development Group, has 21 units, including two penthouses and two two-story villas. Condos come with floor-to-ceiling glass, terraces and direct beach access, according to the development’s website.

The real estate investment and development firm tapped Ten Arquitectos and Revuelta Architecture International for the two towers. Coastal Construction, which was recently hired for Marina Palms Yacht Club & Residences’ second tower, is the contractor. Cervera Real Estate is the exclusive brokerage.

A buyer for the four-bedroom, five-bathroom and two-half bath penthouse was not disclosed. One unit remains in the building, which is slated for completion this spring: a 4,400 square-foot beach house duplex on the ocean side of the project. 321 Ocean broke ground in October 2013.