Five Park

Building type: Condominium, the upper floors of a 48-story tower. The lower floors are a separate condominium, covered on the Park Residences page.

Architect: Arquitectonica, with interiors by Gabellini Sheppard and Anda Andrei as design director for the project

General contractor: Moss Construction

Park design: ArquitectonicaGEO, with Laurinda Spear as lead designer

Unit sizes: Two- to five-bedroom residences of about 1,430 to 6,000 square feet on the upper floors, with finished terraces. Park Residences has smaller plans.

Amenities: About 50,000 square feet, including the Canopy Club on the 26th floor with private dining, spa, bars and lounges and a resident beach-club space, a main pool, workspaces and indoor and outdoor fitness

Public space: Canopy Park, a three-acre public park beside the tower

Source: The Roebling Research Desk.

Five Park is one of two condominiums in a single tower. Park Residences holds the lower floors, 132 residences; Five Park, known as Canopy Residences, holds 94 above the Canopy Club. The tower totals 226. This page covers the upper condominium.

The site is at the foot of the MacArthur Causeway, with the skyline, Biscayne Bay and the Atlantic all in view.

GFO Investments, the family office of Russell Galbut, has owned the site since 2004. A ten-story hospital building stood on it. Terra, led by David Martin, joined as the development partner, and the joint venture broke ground in 2021 and completed the tower in late 2024.

Arquitectonica drew an elliptical tower, with floor plates that give 360-degree views and a gap near the middle of the tower where two floors are offset. Gabellini Sheppard, a New York firm, did the interiors, including kitchens and primary baths in the residences.

Terra built Canopy Park, about three acres, as a public park on the adjoining land.

Five Park sits on Alton Road at the south end of South Beach. South Pointe Park and the Government Cut shoreline are south, and Lincoln Road and the Art Deco district are north. The MacArthur Causeway starts beside the site, so Downtown Miami and Brickell are a short drive over the bay.

Unlike the Collins Avenue oceanfront towers, the views are of the bay, the skyline and the ocean from the south end, and there is no private beachfront.

Flood zone: AE. Ask about flood coverage and the association's master policy.

The tower has 48 stories and rises about 519 feet. The residences on this page are the upper condominium, above the Canopy Club; the lower floors are Park Residences. Residences are two to five bedrooms, with private elevators, open plans, 10-foot ceilings and finished floor terraces. Kitchens carry Gabellini Sheppard-designed cabinetry and Gaggenau appliances, and primary baths and walk-in closets are custom. Views face the Miami skyline, Biscayne Bay and the Atlantic.

Unit mix. The upper condominium has 94 residences of about 1,430 to 6,000 square feet. The upper floors hold larger plans and full-floor penthouses. Penthouse 4702 has about 5,888 square feet of interior space and a terrace of about 1,870 square feet. Take size from the floor plan and the association's schedule.

Amenities. The Canopy Club occupies the 26th floor, with private dining, a spa, bars and lounges and a resident beach-club space. The main pool, workspaces and indoor and outdoor fitness complete the program of about 50,000 square feet across the tower. The club floor serves both condominiums, so Park Residences owners have access as well; ask for the access terms and fees, whether access transfers on resale, and how the two associations split the cost of shared amenities and building systems.

Ask for the current staffing, the operating budget and what the monthly charge covers, including the Canopy Club.

Ask how many units the developer still holds, since resales compete with developer inventory; whether any developer-era rules on resale or leasing are still in force; and what the association shares with the public park, including maintenance and liability. Florida's milestone inspection and structural integrity reserve study rules apply to condominium buildings of three or more stories; ask for the inspection report, the reserve study and any assessment history. Ask about any warranty claims in progress.

Pet, rental and minimum-lease rules are set by the association; confirm at offer stage.

Three recorded penthouse-level sales in 2025: residence 4801, about 5,545 square feet, at $21 million in February; the penthouse recorded as UPH2 at $19.5 million in March; and the one recorded as PH2, about 5,420 square feet by the county's measure, at $17.5 million in July, about $3,230 a square foot.

The county record shows 105 arm's-length sales. The most recent, June 10, 2026, was $7,148,500. No single sale is a building price. A median assessed value of about $4.5 million is a tax figure, not a market price. A building average will mislead. For the lower floors of the tower, see Park Residences.

Unit-level transaction history is maintained in The Roebling Research Library and shared with clients during diligence.

Confirm which condominium. Five Park and Park Residences are separate associations. Check the unit's floor and the governing association before you offer.

Ask what the developer still owns. Developer inventory competes with resales. Ask for the unsold count.

Price by line and floor. Penthouse figures do not apply to mid-floor residences.

Confirm the club and the park. Ask what Canopy Club access costs, how that cost is shared with Park Residences, and what the association owes on the public park.

Price against your line. Use closings in your floor range and plan type, and confirm whether the developer still holds units that compete with yours.

Have the documents ready. Budget, reserve study, financials and a clear statement of what the club includes shorten diligence.

• Park Residences — the lower-floor condominium in the same tower.
• The Ritz-Carlton Residences, Miami Beach — a Mid-Beach condominium at 4701 North Meridian Avenue.
• The Setai Residences — a Collins Avenue oceanfront condominium in South Beach.