The Real Deal Miami

Apogee unit in South Beach hits market at $8.5M

Owner is selling because he purchased waterfront home in Miami Beach

October 14, 2015 09:45AM
By Sean Stewart-Muniz

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Unit 1203 at the Apogee condo tower in South Beach

Unit 1203 at the Apogee condo tower in South Beach and listing agent Nelson Gonzalez

A flow-through unit at the Apogee condo tower in South Beach is for sale at $8.5 million — the cheapest price currently offered at the luxury building.

Unit 1203, which features ocean views and modern finishes, was listed roughly two weeks ago by Nelson Gonzalez of Esslinger Wooten Maxwell.

The 3,103-square-foot residence was built out by the original owner when Apogee first opened in 2008. It has wood floors throughout, recessed lighting, smart home technology and built-in cabinetry. The appliances are modern, and the closets are walk-in. Gonzalez told The Real Deal that one of the more notable features is the unit’s 11-foot-wide balcony, which the owner set up to be an outdoor living room.

“This building is one of the few that I know of that has the summer kitchens on the balcony,” Gonzalez told TRD. “In my opinion, Apogee is certainly in the top three buildings in Miami Beach. “

The owner, Gonzalez said, is putting his unit up for sale because he just purchased a waterfront home in Miami Beach. Gonzalez declined to name the owner.

Miami-Dade County property records show that the unit is owned by Jonathan Cox, founder and chairman of the Federated Companies, a real estate firm with offices in Miami and Lawrence, Mass. In July, Cox picked up a brand new spec house in Sunset Islands for $5.58 million. He had purchased the Apogee unit for $7.24 million in October 2014, according to public records.

Out of the eight condos currently for sale at Apogee, unit 1203 is the cheapest. Its price breaks down to roughly $2,737 per square foot. Gonzalez also has the listing for the most expensive: a nearly $20 million unit on the 24th floor.