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Portofino Tower

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Neighborhood: South of Fifth

Year Built: 1996

# Units: 228

# Floors: 44

# Parking Levels: 2

ROSS100 Condo Index Ranking +

63

out of 100

COST RATING: +

2.86 out of 5

LIFESTYLE RATING: +

3.42 out of 5

Ross’s Comments – What you Need to Know about Portofino Tower

The first luxury condo tower to be developed in the 90’s that put the South of Fifth area firmly on the map.

Designed with three separate wings each serviced by their own elevator bank, most levels have semi-private elevator lobbies.

The design of the tower lends itself to large floor plates for the 2 and 3 bedroom units, most of which offer either 1,955 or 2355 sf of living space. These are true flow through units with two terraces offering a variety of city, bay, and ocean views.

The existing and former home to several celebrities and sports stars, including Hockey Hall of Famer, Sergei Federov, Anna Kournikova, and Donald Sutherland.

BUILDING QUALITY +

MANAGEMENT +

LOCATION +

RENT FRIENDLY +

ACCESSIBILITY +

FINANCING +

DESIGN & EFFICIENCY +

AMENITIES +

WALKABILITY +

PET FRIENDLY +

PARKING +

SECURITY +

RECENT PRICE/SQ FT $1,068

RECENT PRICE/M² $11,496 

MAINTENANCE COST/SQ FT $0.75 – $0.99

2 BEDROOM PRICE RANGE (2014-2015) $2,000,000 – $2,900,000

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UNIT SIZES  1,090 – 5,680 sq. ft (101 – 528 m²)

UNIT TYPES  1, 2, 3, 4 and 5 bedrooms

# OF UNITS  228

# OF FLOORS  44

# OF PARKING LEVELS  2

ARCHITECT  Sieger-Suarez

DEVELOPER  The Related Group

PET POLICY  1 pet allowed per unit, other restrictions apply. 

24-hour concierge, valet & security

Semi-private & private elevator foyers

Pool

2 tennis courts

Stunning spa-in-the-sky

Conference room

Billiards room & library

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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Portofino Tower 25.768261, -80.134390 300 South Pointe Drive, Miami Beach, FL, United States (Directions)

NOW TRENDING IN ROSS100

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