
Ocean Terrace Residences Miami Beach
From $8M · Est. 2029

Miami, Florida
Miami Beach's Next Chapter — $730M in Transformation
As of November 7, 2026, North Beach has 341 condos for sale and 271 for rent. Over the last 12 months condos closed at a median of $388 per sq ft after 79 days on market.
MLS aggregates as of November 7, 2026.
Active for Sale
341
Active Rentals
271
Median Closed $/sq ft
$388
Median Days on Market
79 days
MLS aggregates as of November 7, 2026, from the completed cache sync.
341
As of November 7, 2026; active condominium listings for sale
MLS cache and methodology$497
As of November 7, 2026; n=333 eligible active asking observations
MLS cache and methodology$388
As of November 7, 2026; 2025-11-07 through 2026-11-06; 288 closed sales; n=285 eligible $/sq ft observations; minimum 30 sales and 30 eligible observations
MLS cache and methodology79 days
As of November 7, 2026; 2025-11-07 through 2026-11-06; 288 closed sales; n=285 eligible closed-sale observations; minimum 30
MLS cache and methodology14.2 months
As of November 7, 2026; active inventory / (288 closed sales / 12); 2025-11-07 through 2026-11-06; minimum 30 closed sales
MLS cache and methodology$1.10
As of November 7, 2026; per month; n=316 eligible active sale listings with an explicit fee frequency; median of monthly HOA / interior sq ft
MLS cache and methodology4
Canonical project-directory profiles in this neighborhood; not available units
Project directory100.0%
1 of 1 verified buildings; coverage 1/1 directory buildings. Checked November 2, 2026. Unverified buildings are excluded from the percentage denominator.
FEMA NFHL · Part 1 building recordsNorth Beach is the northernmost district of Miami Beach, stretching roughly from 63rd Street to 87th Terrace along the Atlantic Ocean. Long considered Miami Beach's most affordable and undervalued submarket, North Beach is undergoing a dramatic transformation driven by a 2017 voter-approved FAR increase in the North Beach Town Center district and a concentrated $730 million investment by developer Lefferts across three projects — 72 Park (completed 2025), Palma Miami Beach (under construction, 2027), and 72 Carlyle (pre-construction, Piero Lissoni interiors). The neighborhood features Miami Modern (MiMo) architecture, the Miami Beach Bandshell, Normandy Shores Golf Club, North Shore Park (40 acres of oceanfront green space), and the planned 72nd Street Community Complex. All three Lefferts projects carry no minimum rental restrictions — making North Beach the only Miami Beach submarket with multiple STR-approved luxury buildings.
Miami Beach Bandshell
Established outdoor cultural venue hosting concerts and community events
Normandy Shores Golf Club
18-hole golf course walkable from all three Lefferts projects
North Shore Park
40-acre oceanfront park with sports facilities and green space
Bal Harbour Shops
Ultra-luxury open-air mall 5 minutes north with Chanel, Gucci, Prada
Ezio's Steakhouse
Brooklyn import by Chef Carlo Mirarchi, located at 72 Park
North Beach Tennis Academy
Professional tennis facility open to residents
Surfside Beach
Pristine Atlantic beach 5 minutes north of the 72nd Street corridor
72nd Street Community Complex (planned)
Planned public complex with pool, library, gymnasium, and open space
North Beach is the highest-upside submarket on Miami Beach for buyers with a 5–10 year horizon. All three Lefferts projects carry no minimum rental restrictions, making them eligible for Airbnb and VRBO. Palma Miami Beach offers the most accessible entry point (from $650K, fully furnished, LEED Gold). 72 Carlyle (from $1.8M, Piero Lissoni interiors) targets long-term appreciation buyers. 72 Park (completed, from $665K resale) offers immediate STR income. North Beach is ideal for investors who want Miami Beach exposure at a significant discount with strong near-term catalysts.

Ella Miami Beach has reached its full height and 70% of residences are sold. The boutique project in North Beach Town Center offers the last remaining units under $600,000 in Miami Beach — with 2-day minimum rentals and rooftop amenities.

Miami Beach remains the world's most iconic beach address — and its condo market reflects that status. This guide compares seven buildings combining oceanfront prestige, brand power, and investment potential for 2026 buyers.

One developer. Three towers. $730 million invested in North Beach. We break down exactly how Palma, 72 Park, and 72 Carlyle compare on price, design, rental income potential, and long-term appreciation — so you can decide which Lefferts project fits your investment strategy.