Penthouse at 321 Ocean sells for $20M

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.

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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.