Ocean House Sells Out Two-Thirds and Still Gaining Steam

Ocean House has recently joined the ranks of condo buildings that are shouting out about Miami’s real estate success story from the rooftops. A year after its premier in October, 2011 and just about six months after having officially re-launched in May, 2012, the 125 Ocean Drive boutique-style building has already sold out two-thirds of its units.

iStar Residential, owner and developer of this South Beach property, has made quite the comeback with its soaring sales ever since its property loan of $73 million went into foreclosure back in 2009. With 13 of its 28 residences being sold at an average price of $5.3 million per unit by October and one of the units fetching almost $6 million in September, here’s a look at possibly why buyers just can’t keep their hands off this South Beach property:

• Exclusivity comes enwrapped in a boutique-style low-rise that sits on pristine oceanfront in the swanky South of Fifth neighborhood.
• Offering easy access to various upscale dining, shopping, nightlife, cultural and entertainment options such as Joe’s Stone Crab and Prime One Twelve, the residences ensure privacy with connectivity.
• Alison Antrobus’ interior design refurbishing has added to the appeal of this already charming building by presenting a harmonious mix of modern elements displayed in muted natural tones entwining with elements from its Art Deco past to create a casual, yet graceful ambience.
• Special amenities such as pet spa services, Intelity® online concierge services, beachfront jogging path, private cabanas and more add to the allure of its ultra-luxury, South of Fifth condominiums.

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Source: therealdeal.com