The newly finished One Ocean on South Beach just completed its first resale, a 2,060-square-foot unit that just sold for $2.45 million ($1,189 per square foot).
The fourth-floor decorator-ready residence has three bedrooms and 3.5 bathrooms. It was previously asking $2.9 million in July before undergoing a couple of price reductions to its most recent ask of $2.5 million.
"This sale marks the first resale from an owner in the entire development since completion,” says listing agent Devin Kay, Director of Luxury Sales at Douglas Elliman. “With nearly 50% of the buildings inventory for sale, it is difficult to draw attention and attract interest from buyers, but we were the best priced three-bedroom in the Building with an ocean view and South of Fifth has always and will always be one of the most desired neighborhoods in Miami Beach.
“To have placed this unit under contract in just about two months while showing it in Decorator Ready (Raw) condition was a challenge, but I utilized my different channels of marketing and by giving the property the exposure it needed, I was able to successfully secure a buyer and close at nearly $1,200 per square foot.”