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Apogee

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Neighborhood: South of Fifth

Year Built: 2007

# Units: 67

# Floors: 22

# Parking Levels: 3

ROSS100 Condo Index Ranking +

1

out of 100

COST RATING: +

4.23 out of 5

LIFESTYLE RATING: +

 4.33 out of 5

Ross’ Comments – What you Need to Know about Apogee

Apogee is home to many of the global elite with only 4 units per floor and located at the southern point of South Beach facing the ocean, Government Cut and Fisher Island.

Offering several amazing features, including 11 foot deep balconies with complete outdoor summer kitchens; special soundproofing, impact windows and double concrete layers between each floor; 10 ft ceilings; private 2-car garages; and corner units have 2400 sq ft wraparound terraces.

Considered one of the NBA’s greatest coaches of all time, the Miami Heat’s former coach and team president, Pat Riley, was one of the original buyers and still owns one of the two-level penthouses, each with a private rooftop pool and entertainment areas.

The sale of unit 2104 for $12.4 million in 2013 set a new record in the building at $2,985 per sf.

BUILDING QUALITY +

MANAGEMENT +

LOCATION +

RENT FRIENDLY +

ACCESSIBILITY +

FINANCING +

DESIGN & EFFICIENCY +

AMENITIES +

WALKABILITY +

PET FRIENDLY +

PARKING +

SECURITY +

RECENT PRICE/SQ FT $2,578

RECENT PRICE/M² $27,750.00 

MAINTENANCE COST/SQ FT $1.00 – $1.49

2 BEDROOM PRICE RANGE (2014-2015) $$7,240,000+ (3 bdm)

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UNIT SIZES  3,103 – 4,145 sq. ft (288 – 385 m²)

UNIT TYPES  3 and 4 bedrooms

# OF UNITS  67

# OF FLOORS  22

# OF PARKING LEVELS  3

ARCHITECT  Sieger-Suarez

DEVELOPER  The Related Group

PET POLICY  Pets are allowed, subject to restrictions. 

24-hour concierge, valet & security

Fantastic privacy, with only 4 residences per floor

10-foot high ceilings

11 foot deep balconies with summer kitchens

Each residence has a private, enclosed, air-conditioned 2-car garage

Private elevator access to every residence

2.88 acre site

State-of-the-art spa & fitness center

Infinity-edge lap pool in landscaped garden

Double slabs built between floors to reduce noise

SOUTH OF FIFTH

As with many of Miami’s historic neighborhoods, the South of Fifth “SoFi” neighborhood in Miami Beach enjoyed its heydays in the 1950′s. Miami Beach had a reputation as the “American Riviera” with its beaches, hotels, tropical weather, mobsters and star power. However, the area was ethnically divided with SoFi as home to a thriving, mostly Jewish community, while the areas to the north and even some hotels had little tolerance for diversity. A number of hotels had “restricted clientele” rules and some properties transferred with deeds prohibiting “Hebrew blood.”

By the 1970′s, however, SoFi had become a haven for Jewish retirees and the younger generation stopped moving in. As the area declined, the city formed what was known as the “Committee to Keep Greater Miami Beach Young.” In an effort to eliminate most of the structures south of Fifth Street, the city created the South Shore Redevelopment Area in 1973. The city leader’s imagined that the $400-million plan would completely revitalize the area. Unfortunately, it all but guaranteed the area’s decline.

Many theories exist as to why the plan failed so dismally, but clearly it influenced property owners to stop taking care of their existing buildings. As the neighborhood was so cheap, it attracted the poor and crime and drugs became rampant. Unfortunately, things continued to get worse and it was not until the mid 1990′s that interest re-emerged to invest in the SoFi area.

Today the SoFi neighborhood represents the success that major redevelopment can produce. The area is very safe, it boasts a highly ranked elementary school, South Pointe Park, many successful businesses, restaurants, hotels, nightclubs and some of the most expensive real estate in Miami. Every weekend the beach is packed with locals and tourists. There are several iconic luxury condo projects in the SoFi area, including the Apogee, Murano Grande, Icon, Continuum North and South, Portofino Tower, Murano at Portofino, in addition to several currently under construction.

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Apogee 25.767723, -80.136320 800 South Pointe Drive, Miami Beach, FL, United States (Directions)

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