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. County records list 2006 as the year built. 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.
Own a residence at Ocean Five? See what it would sell for.
Choose what fits: a property-specific pricing review informed by local transaction records and market research, a conversation about buying in this market, or help planning a move between markets. Local representation is coordinated where appropriate.
646.939.7375 · c.cohen@compass.com
At a glance
Condominium: The condominium is named Ocean Five Condominium.
Building type: Boutique condominium, five stories with elevator
Unit sizes: One- and two-bedroom plans of roughly 830 to 1,500 square feet
Amenities: Heated pool, gym, barbecue area, cabana and common outdoor space
Services: Concierge, doorman and elevator service.
Parking: Assigned parking
Source: The Roebling Research Desk.
Why Ocean Five matters
Ocean Five has 13 residences on Ocean Drive, in the part of South Beach south of Fifth Street. It has staffed access, a pool and a short walk to the southern end of the beach.
Built in 2006, it is newer than the Art Deco stock elsewhere on Ocean Drive.
South of Fifth and the Ocean Drive location
South of Fifth is the southern tip of Miami Beach, south of Fifth Street. It has South Pointe Park and its pier at the end of the island, and the Government Cut shipping channel beyond. North of Fifth, Ocean Drive becomes the Art Deco hotel and restaurant strip.
Ocean Five is in the 400 block of Ocean Drive. It is a short walk to South Pointe Park and to the beach. Ocean Drive carries event and tourist traffic, so ask about noise and access on busy weekends.
Architecture and unit composition
The building is five stories with an elevator.
Outdoor space. The pool deck, cabana and barbecue area are the common outdoor spaces. Balcony or terrace sizes vary by unit.
Building operations
The building has a concierge and doorman, an elevator and assigned parking. With 13 residences, a single large repair or assessment is shared among few owners. Ask for the budget, reserve balance and any pending special assessment.
Standard asks for any Florida condominium purchase: recent financial statements, and reserve funding. 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 for the inspection schedule and any repair scope in writing. Flood insurance and windstorm coverage are material on this block; get quotes before an offer.
Policy framework
Pet, rental and minimum-lease rules are set by the association; confirm at offer stage.
Sales context
One recorded sale, November 2021, at $1,095,000. It is one sale from 2021, not a building price or a current one. Pricing varies by floor, view and renovation.
Unit-level transaction history is maintained in The Roebling Research Library and shared with clients during diligence.
What to know if you're buying at Ocean Five
Expect limited comparables. With 13 residences, same-line sales are rare. Widen the search to other South of Fifth boutique buildings.
Read the budget. Ask what the reserve covers.
Confirm the unit's rights. Verify parking assignment, storage and cabana use.
What to know if you're selling at Ocean Five
Price from the nearest comparables. Buyers will compare to other South of Fifth buildings with similar finish and size.
Have documents ready. Budget, financials, SIRS and milestone status shorten diligence.
Comparable buildings
- 321 Ocean Drive — a South of Fifth condominium on Ocean Drive.
- 200 Ocean Drive — a South of Fifth condominium on Ocean Drive.
- Portofino Tower — a South Pointe condominium tower.
The neighborhood
For the full neighborhood — its buildings and recorded pricing — read The Roebling Index guide to South of Fifth.
Run the numbers
- Miami buyer closing cost calculator — documentary stamps on the mortgage, intangible tax, title insurance and the condo estoppel.
- Miami seller closing cost calculator — the deed documentary stamp tax, title, closing and association transfer fees.
Related guides
- Post-Surfside Miami condo diligence — milestone inspections, structural integrity reserve studies and special assessments.
- Florida Save Our Homes, explained — the assessment cap, the homestead exemption and portability.
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.
This page reflects publicly available information compiled by The Roebling Research Desk. Specific building details should be confirmed with the association during due diligence; the recorded Declaration of Condominium, the current building budget, the current tax bill, the structural integrity reserve study and milestone-inspection status should be reviewed for any specific transaction. © 2026 The Roebling Team at Compass.
Considering a move at Ocean Five?
Request a private building brief with the relevant recorded sales, current and off-market availability, and an apartment-specific view of value.
646.939.7375 · c.cohen@compass.com
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 or solicitation. Apartment estimates are automated, from public records, and are not appraisals.
The Roebling Team at Compass is led by Corey Cohen, a New York licensed associate real estate broker. For a purchase or sale in Miami, we introduce you to a licensed Compass agent there by referral and handle the New York side of your move ourselves. This page and its calculators are research, not an offer of representation.
To plan a move between Manhattan and Miami, schedule a consultation; where appropriate we’ll introduce you to a vetted Compass agent in the local market.