Apogee South Beach

Apogee is not the tallest or the loudest tower in Miami Beach: it is the most exclusive by design. With just 67 residences at the southern tip of South Beach —between the Atlantic and Government Cut— it is a building built around a single idea: privacy and space on one of the most expensive corners in the country.

Delivered in 2008 by The Related Group with architecture by Sieger Suarez, Apogee occupies the last parcel of the South of Fifth neighborhood, at 800 South Pointe Drive. It is only 67 residences across 22 floors —four per floor— and each is a flow-through unit that spans the building side to side: terraces east over the ocean and west over the bay, the city and the cruise ships entering the channel. Floor plans start above 4,000 square feet and reach two-story penthouses.

For today's buyer what matters is not the original brochure but the secondary market: which units owners are reselling, at what price per square foot, and what the building offers for rent. This page orders that —live inventory for sale and for rent, how to read value, and the buying process— so you reach the offer with judgment.

What makes the building different

Apogee's value is not in resort amenities, but in something scarcer in Miami Beach: low density, real privacy and square footage. Among what defines it:

• Flow-through residences with dual views each unit crosses the building from ocean to bay, with wide terraces at both ends —you don't choose between the sea and the skyline, you get both—.
• Private two-car garage on your own floor cars ride up on a lift and sit in an enclosed garage within your own level; no one else sets foot on your floor.
• The lowest density on the market only 67 residences, four per floor and semi-private elevators serving few doors per landing —privacy the large towers cannot offer—.
• South of Fifth, the tip of South Beach steps from Joe's Stone Crab, Prime 112, Smith & Wollensky and South Pointe Park, in the lowest-profile, highest price-per-foot neighborhood in all of Miami Beach.

How the value reads: view, floor and line

In a one-of-a-kind building, two units of the same size can be worth very different amounts. Three variables explain almost the entire price difference:

The view

Because every residence is flow-through and has both exposures, value here does not read by orientation but by height and by stack. High floors command the premium —open ocean and a clear line to Government Cut—; lower floors trade below. Before comparing prices, you compare the floor, the line and the real square footage.

The floor

Price per square foot rises with height: more light, less obstruction and, on the high floors, the best view. The value jump between the mid-rise and the upper floors is usually larger than the square footage suggests.

The line

Each line —the stack of units sharing a position on the floor plate— has its own terrace and exposure. Knowing which line you're looking at, and its resale equivalent, is the difference between paying market and overpaying. This is where an advisor who knows the building adds real value.

The resale thesis

Buying in resale, rather than preconstruction, changes the risk profile. Construction and delivery risk disappear: the building has stood since 2008, the community operates and the unit is physical. In exchange, you compete for very scarce inventory —67 doors in total— and the price already carries the finished-product premium on the best corner of South Beach.

The right question is not whether Apogee is good —it is, and its scarcity backs it— but whether the specific unit is well bought: price per square foot against the building's recent sales, the floor and the stack, and the margin against what that unit would ask in rent. For the investor dollarizing into a trophy, low-density asset that is hard to replicate, a well-chosen unit at Apogee combines structural scarcity, square footage and a location that cannot be repeated.

Apogee is one piece of the South of Fifth corridor; to see how the Miami Beach market moves and compare it against other oceanfront towers, browse all residential inventory for sale on the hub.