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
Icon unit tops list of most expensive condo sales in Miami-Dade (Google Maps; Icon Brickell)

Condo sales and dollar volume up from last week

Condo sales and dollar volume up from last week
Oceanside Fisher Island and a map of condo sales (Credit: Google Maps)

Weekly condo sales volume in Miami drops below $40M

Weekly condo sales volume in Miami drops below $40M
From left: Jorge Pérez, Stuart Miller, Craig Robins, Louise Sunshine, and Russell Galbut,(Credit: Patrick McMullan via Getty Images)

Here are the South Florida real estate players who donated to candidates in 2020

Here are the South Florida real estate players who donated to candidates in 2020
A map of condo sales and Setai in Miami Beach (Credit: Google Maps)

Weekly condo sales volume in Miami drops to $50M

Weekly condo sales volume in Miami drops to $50M
Mark M. Rubin & Howard M. Lorber

Movers & Shakers: Related taps Douglas Elliman for condo sales & more

Movers & Shakers: Related taps Douglas Elliman for condo sales & more
A map of Miami condo sales and Ocean Tower Two (Credit: Google Maps)

Miami condo sales decline going into October

Miami condo sales decline going into October
(Google Maps, Realtor)

Miami condo sales and dollar volume both rise at end of September

Miami condo sales and dollar volume both rise at end of September
Four Seasons Residences at the Surf Club in Surfside

Miami condo sales go up, but dollar volume falls

Miami condo sales go up, but dollar volume falls
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...