Listed for $1.17 million, or roughly $768 per square foot, in January 2015, the ClockTower loft unit #C322 at 461 2nd Street quickly sold for an “over asking!” price of $1.45 million, or roughly $951 per square foot, and closed escrow within three weeks of being listed.
This past April, the “sophisticated top floor live/work loft” with “generous space to entertain” and a “spa-like master bath with double vanity featuring Boyi Modern LED Waterfall Faucets, and large walk-in steam shower by Michele Magowan Design” returned to the market listed for $1.395 million or roughly $915 per square foot.
Reduced to $1.3 million in June, the listing was withdrawn in July. And on Monday, 421 2nd Street #C322 returned to the MLS listed anew for “$995,000,” a sale at which would represent a 31.4 percent drop in value for the loft since early 2015 or “over asking!” if a dollar more.
If you think you know the loft market in South Beach, now’s the time to tell.