Ocean Five
448 Ocean Drive, Miami Beach, FL 33139
South of Fifth
Folio 0242033280001
- Year built
- 2006
- Residences
- 13
- Building area
- 14,179 sq ft
- Median residence
- 1,118 sq ft
- FEMA flood zone
- Zone AE · BFE 8 ft
- Latest arms-length sale
- $1,095,000 · Nov 2021
- Median sale (10 yr)
- $710,000
- Recorded transfers
- 25
Ocean Five is a 13-residence boutique condominium building at 448 Ocean Drive, in South Beach, completed in 2006. It has a median residence of 1,118 square feet.
The recorded market runs to 17 arms-length sales since 2007, an annual turnover rate of 2.3 percent of the building over the past decade, and a median of $687 per square foot. Across 8 same-unit resales, a small sample, 75 percent sold above their prior recorded price, with a median gain of 15 percent over a median hold of 6.3 years.
Recorded sales history
Recorded transfers for this building in Miami-Dade County public records, back to Jan 2007. Prices reflect the recorded consideration; transfers the Property Appraiser does not qualify as arms-length are shown unmarked. Nominal-consideration paper transfers (deeds into trusts and LLCs, estate and family transfers, corrective deeds) are part of the record but not sales, and are omitted from this table. Recording lags closing, so the newest sales can take several weeks to appear.
| Date | Residence | Size | Price | Arms-length |
|---|---|---|---|---|
| Dec 2023 | 504 | 830 sf | $385,400 | |
| Dec 2023 | 404 | 830 sf | $383,100 | |
| Dec 2023 | 503 | 830 sf | $385,400 | |
| Dec 2023 | 403 | 830 sf | $383,100 | |
| Nov 2021 | 501 | 1,118 sf | $1,095,000 | ✓ |
| Jun 2021 | 304 | 830 sf | $651,000 | ✓ |
| Jul 2020 | 401 | 1,118 sf | $373,700 | |
| Dec 2016 | 303 | 830 sf | $710,000 | ✓ |
| Jun 2014 | 501 | 1,118 sf | $900,000 | ✓ |
| Oct 2013 | 501 | 1,118 sf | $790,000 | ✓ |
| Jul 2013 | 304 | 830 sf | $539,000 | ✓ |
| Apr 2013 | 402 | 1,446 sf | $875,000 | ✓ |
| May 2011 | 501 | 1,118 sf | $675,000 | ✓ |
| Apr 2007 | 301 | 1,118 sf | $580,000 | ✓ |
| Feb 2007 | 304 | 830 sf | $500,000 | ✓ |
| Feb 2007 | 303 | 830 sf | $570,000 | ✓ |
| Feb 2007 | 402 | 1,446 sf | $1,010,000 | ✓ |
| Feb 2007 | 302 | 1,446 sf | $992,500 | ✓ |
| Feb 2007 | 201 | 1,507 sf | $640,000 | ✓ |
| Jan 2007 | 502 | 1,446 sf | $1,550,000 | ✓ |
| Jan 2007 | 501 | 1,118 sf | $758,600 | ✓ |
| Jan 2007 | 401 | 1,118 sf | $890,000 | ✓ |
✓ = qualified arms-length per the Miami-Dade Property Appraiser. 3 nominal-consideration paper transfers omitted.
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Building facts and sales records are compiled from Miami-Dade County public records (Property Appraiser) and reviewed against recognized architectural references. Figures are reported as recorded and may be updated as the county updates its records. This page is informational and is not an offer, solicitation, or valuation.