Ocean House in South Beach sells out

The 18-unit project's sales launched in May 2012

TRD MIAMI /
Mar.March 16, 2015 12:45 PM

Ocean House, an oceanfront luxury condominium project in South Beach, has closed on its last unit for $12.1 million.

The residence is one of two beachfront homes offered at the complex: Both are two stories and 6,378 square feet. The unit sold has four bedrooms, four-an- a-half bathrooms, and  is fully furnished by design company Interiors by Steven G.

Cervera Real Estate, the exclusive listing agency for the complex, represented Ocean House for the sale. The buyer, who is undisclosed, was represented by Jeff Miller of Zilbert International Realty.

Located at 125 Ocean Drive in the South-of-Fifth neighborhood, Ocean House was originally built in 1946 and has undergone luxury and modern renovations over the past few years.

Owner iStar invested in a series of capital improvements after it picked up the project when the previous owner’s $79 million loan went into foreclosure in 2009. The firm then re-launched sales in 2012 and enjoyed a flurry of multi-million dollar closings.

The Art Deco-style complex has 18 residences, ranging in size from two-bedroom to four-bedroom condos, penthouses, and the two beachfront homes.

Amenities include private beach access, a beachfront pool, a fitness center and a private theater room.

“We’re delighted that our efforts of redesigning and finishing the amenities at Ocean House was so well received by the Miami market,” said John Kubicko, senior vice president for iStar Financial, in a statement. — Sean Stewart-Muniz


Related Articles

arrow_forward_ios
(Credit: Redwood Media Group)

Developers and brokerages are getting creative for Art Basel

Karen Elmir, Camilo Franco, and Caitlyn Henderson

Movers & Shakers: Elmir Group launches CRE division, Pablo Alfaro team grows

Former Cervera Real Estate agent Beatriz Santamaria

Ex-Cervera agent sues for unpaid wages, seeks class action

Rendering of Elysee

Elysee PH under contract for nearly $13M, setting new record in Edgewater

Rendering of Ivory 214 and Bernardo Rieber

The doctor will see you soon: developer scores $36M loan for medical office condos

Rendering of 1212 Aventura

Aventura developer launches mixed-use office condo project

????????????????????????????????????

Sandra Masis was Cervera’s top 2018 producer in general real estate sales

Douglas Elliman takes over sales from Cervera at Elysee Miami project

Douglas Elliman takes over sales from Cervera at Elysee Miami project

arrow_forward_ios