Ocean House in South Beach sells out

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
Palazzo Della Luna at 6800 Fisher Island Drive (Photo via Palazzo Della Luna)
Miami-Dade weekly condo sales, dollar volume up at year-end
Miami-Dade weekly condo sales, dollar volume up at year-end
(Google Maps, Fisher Island)
Miami-Dade condo sales, dollar volume fall during holiday week
Miami-Dade condo sales, dollar volume fall during holiday week
Map and Palazzo Della Luna, Miami Beach (Google Maps)
Condo sales, dollar volume rise last week in Miami-Dade
Condo sales, dollar volume rise last week in Miami-Dade
515 East Dilido Drive with Jonathan Cox (Douglas Elliman, Federated Cos.)
Federated Cos. developer buys waterfront Venetian Islands home
Federated Cos. developer buys waterfront Venetian Islands home
(Google Maps)
$35M closing at Faena House leads Miami’s weekly condo sales
$35M closing at Faena House leads Miami’s weekly condo sales
(Google Maps)
Condo sales rebound in Miami-Dade after Thanksgiving
Condo sales rebound in Miami-Dade after Thanksgiving
Pamela Applebaum and The Bristol
Daughter of drugstore mogul sells Bristol condo unit for $16M
Daughter of drugstore mogul sells Bristol condo unit for $16M
Don and Katrina Peebles with their Old Cutler Road home (Getty, The Jills Zeder Group/photography by 1 OAK Studios)
Developer Don Peebles relists Coral Gables estate for $15M
Developer Don Peebles relists Coral Gables estate for $15M
arrow_forward_ios

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

Loading...