Apogee South Beach Review: SoFi Ultra-Luxury Yield 2026
Apogee South Beach investment review: 67-unit Sieger Suarez tower, Yabu Pushelberg interiors, net yield scenarios, SB 4-D status, and resale from $7M.
By Florida Estate Editorial · Updated July 3, 2026 · 21 min read
Quick answer: Apogee South Beach delivers 0.3-1.8% net yield on long-term furnished leases (STR prohibited). Only 67 residences from 3,200-4,400 sq ft with private garages and flow-through design. SB 4-D Phase 1 completed 2024-2025. Entry from approximately $7M, SoFi scarcity asset for UHNW appreciation thesis.
Apogee South Beach stands at the southern tip of South Beach, 800 South Pointe Drive, where South Pointe Park meets the Atlantic and the cruise ship channel. Developed by Related Group with architecture by Sieger Suarez Architects and interiors by Yabu Pushelberg, the 22-story tower delivered in 2008 as one of the most exclusive residential buildings in the South of Fifth micro-market. With only 67 residences and no unit smaller than 3,200 square feet, Apogee rejected the density formula that defines most Miami Beach luxury towers.
For foreign investors, Apogee South Beach represents ultra-luxury scarcity in Miami’s most prestigious beachfront enclave. Every residence includes private garage parking, a genuine rarity in South Beach, and flow-through design with simultaneous ocean and city views. Carrying costs exceed $180,000 per year on many units, and net yields compress below 2%. What Apogee offers is irreplaceable inventory: when a buyer wants 3,600 square feet with a private garage in South of Fifth, the alternative set is extremely limited.
This review models net yields at ultra-luxury scale, explains HOA rental restrictions, assesses SB 4-D compliance after 2024-2025 inspections, and compares Apogee against Continuum, Surf Club Four Seasons, and newer SoFi pre-construction.
For broader South of Fifth context, see our Miami Beach area investment guide. For Miami-wide analysis, read the Miami investment overview.
What are Apogee South Beach building specifications and residence formats?
Florida Estate underwrites building specifications and residence formats with county-verified rent, tax, and insurance inputs before any wire. Typical 2026 ranges: gross yield 3% to 10% by market, net yield 2% to 5% after 20% to 25% management, property tax near 1% to 2% of assessed value, combined STR taxes near 12% to 13% in major counties, and coastal insurance binders from $2,000 to $8,000 annually. This section requires written HOA estoppel, tax registration proof, and insurance declarations matched to your operating model.
Florida Estate verification steps:
- Model net yield at 2% to 5% after 20% to 25% management and 12% to 13% combined STR taxes
- Confirm county tax registration and DBPR license before the first guest stay
- Request insurance binders showing STR or landlord use before wire transfer
Apogee South Beach’s investment profile is defined by uniform large-format residences, there are no smaller units to anchor lower price tiers or attract yield-focused buyers.
| Specification | Apogee South Beach |
|---|---|
| Address | 800 South Pointe Drive, Miami Beach |
| Stories | 22 |
| Residential units | 67 |
| Year completed | 2008 |
| Architect | Sieger Suarez Architects |
| Interior designer | Yabu Pushelberg |
| Developer | Related Group |
| Unit sizes | 3,200-4,400 sq ft (only) |
| Private garage | Standard on all residences |
| Design type | Flow-through (east-west exposure) |
| HOA fee range | $4,000-$7,500/mo |
| Min lease term | 6 months |
| Max leases per year | 2 |
Investment recommendation: Half-floor residences (approximately 3,200-3,600 sq ft) offer the strongest balance of entry price and rental demand. Full-floor residences (4,000-4,400 sq ft) command premium pricing but face narrower tenant pools and longer marketing periods. Upper floors with unobstructed ocean and cruise channel views justify 10-15% pricing premiums over lower floors with partial view corridors.
What are Apogee South Beach resale prices in Q2 2026?
Florida Estate tracks Apogee South Beach resale pricing with MLS trailing data and HOA estoppel packages before recommending any wire. Urban and coastal towers corrected 10% to 16% from 2022 peaks while non-homestead tax near 1% to 2% of assessed value and insurance binders from $2,000 to $8,000 still compress net yield to roughly 2% to 4% on many units in 2026.
Florida Estate verification steps:
- Model net yield at 2% to 5% after 20% to 25% management and 12% to 13% combined STR taxes
- Confirm county tax registration and DBPR license before the first guest stay
- Request insurance binders showing STR or landlord use before wire transfer
Florida Estate underwrites pricing and resale market (q2 2026) with county-verified rent, tax, and insurance inputs before any wire. Typical 2026 ranges: gross yield 3% to 10% by market, net yield 2% to 5% after 20% to 25% management, property tax near 1% to 2% of assessed value, combined STR taxes near 12% to 13% in major counties, and coastal insurance binders from $2,000 to $8,000 annually. This section requires written HOA estoppel, tax registration proof, and insurance declarations matched to your operating model.
Apogee South Beach resale prices reflect ultra-luxury South of Fifth positioning with scarcity premium from 67-unit inventory and large-format-only product.
| Unit type | Size range (sq ft) | Price range (Q2 2026) | Price per sq ft |
|---|---|---|---|
| Half-floor (3 bed) | 3,200-3,600 | $7,000,000-$10,500,000 | $2,000-$2,800 |
| Full-floor (4 bed) | 3,800-4,400 | $10,000,000-$16,000,000+ | $2,200-$3,200 |
No studios, one-bedrooms, or two-bedrooms exist, Apogee’s uniform large format eliminates the lower-price entry tiers that create transaction volume at Continuum. Average price per square foot sits in the $2,000-$2,800 range, below Faena House and Surf Club peaks but above Continuum’s broader inventory average.
What net rental yield can investors expect at Apogee South Beach?
The following model uses a representative half-floor three-bedroom at $8,500,000 purchase price (3,600 sq ft, upper floor, flow-through ocean and city views). Assumptions reflect annual or seasonal furnished leases since short-term rentals are prohibited.
Florida Estate verification steps:
- Model net yield at 2% to 5% after 20% to 25% management and 12% to 13% combined STR taxes
- Confirm county tax registration and DBPR license before the first guest stay
- Request insurance binders showing STR or landlord use before wire transfer
Revenue context: South of Fifth ultra-luxury three-bedrooms at Apogee command $25,000-$40,000/month on 6-12 month furnished leases. Private garage parking, Yabu Pushelberg finishes, and flow-through design justify premiums over Continuum units at similar square footage without garage or dual exposure.
| Cost line | Conservative | Base case | Optimistic |
|---|---|---|---|
| Monthly rent | $25,000 | $32,000 | $38,000 |
| Annual gross rent | $300,000 | $384,000 | $456,000 |
| Vacancy (15% / 10% / 7%) | −$45,000 | −$38,400 | −$31,920 |
| Effective gross income | $255,000 | $345,600 | $424,080 |
| Property management (10% / 8% / 6%) | −$25,500 | −$27,648 | −$25,445 |
| Property tax (non-homestead ~1.0%) | −$85,000 | −$85,000 | −$85,000 |
| Insurance (HO-6 + beachfront) | −$20,000 | −$18,500 | −$17,000 |
| HOA fees ($5,800/mo avg) | −$69,600 | −$69,600 | −$69,600 |
| Capex / furnishing reserve (3%) | −$7,650 | −$10,368 | −$12,722 |
| Net Operating Income | $7,250 | $15,064 | $39,157 |
| Net yield on $8,500,000 | 0.1% | 0.2% | 0.5% |
Adjusted for experienced direct-management with seasonal personal use:
| Cost line | Base case (owner uses 3 months) |
|---|---|
| Monthly rent (9 months occupied) | $32,000 |
| Annual gross rent | $288,000 |
| Vacancy / owner use | −$38,400 |
| Effective gross income | $249,600 |
| Property management (hybrid 6%) | −$14,976 |
| Property tax (~1.0%) | −$85,000 |
| Insurance (beachfront HO-6) | −$18,500 |
| HOA fees ($5,800/mo) | −$69,600 |
| Furnishing reserve (2%) | −$4,992 |
| Net Operating Income | $7,532 |
| Net yield on $8,500,000 | 0.1% |
At $8.5M entry, Apogee generates minimal net income, investors must underwrite appreciation, personal use value, and portfolio diversification. The private garage alone adds an estimated $150,000-$250,000 of value versus comparable SoFi units without dedicated parking.
What HOA rental restrictions apply at Apogee South Beach?
Florida Estate underwrites hoa rental restrictions with county-verified rent, tax, and insurance inputs before any wire. Typical 2026 ranges: gross yield 3% to 10% by market, net yield 2% to 5% after 20% to 25% management, property tax near 1% to 2% of assessed value, combined STR taxes near 12% to 13% in major counties, and coastal insurance binders from $2,000 to $8,000 annually. This section requires written HOA estoppel, tax registration proof, and insurance declarations matched to your operating model.
| Florida Estate check | Typical 2026 range |
|---|---|
| Net yield after fees | 2% to 5% |
| STR tax stack | 12% to 13% combined |
| DSCR down payment | 25% to 30% |
| Coastal insurance | $2,000 to $8,000+ |
Apogee South Beach enforces South of Fifth ultra-luxury rental standards that align with neighboring towers and prohibit vacation rental strategies.
Rental rules:
- Minimum lease term: six months
- Maximum leases per year: two (six-month minimum each)
- Short-term rental (under 30 days): prohibited
- Platform rental (Airbnb, VRBO): prohibited
- Lease approval: association and management review required; tenant screening standard
- Furnished leases: standard at Apogee price points, budget $200,000-$400,000 for designer furnishing
- Pet restrictions: verify current policy, many ultra-luxury buildings restrict or prohibit
- Move-in fee: typically $1,000-$2,000 plus refundable deposit
Tenant profile:
Apogee tenants are typically seasonal executives, entertainment industry professionals during production cycles, diplomatic families, and ultra-wealthy individuals undertaking Miami Beach renovations at other properties. Marketing requires luxury brokerage channels, not standard MLS rental listings.
Enforcement reality:
South of Fifth buildings maintain among the strictest STR enforcement in Miami-Dade. Apogee’s small owner base (67 units) means violations are quickly identified. Fines and legal action against unauthorized short-term operators have been sustained in neighboring SoFi towers, assume identical enforcement at Apogee.
How does SB 4-D affect Apogee South Beach reserves and inspections?
Florida Estate underwrites sb 4-d compliance, milestone inspection, and reserve health with county-verified rent, tax, and insurance inputs before any wire. Typical 2026 ranges: gross yield 3% to 10% by market, net yield 2% to 5% after 20% to 25% management, property tax near 1% to 2% of assessed value, combined STR taxes near 12% to 13% in major counties, and coastal insurance binders from $2,000 to $8,000 annually. This section requires written HOA estoppel, tax registration proof, and insurance declarations matched to your operating model.
Apogee South Beach completed Phase 1 milestone inspections in 2024-2025 as a 2008 coastal tower, critical context for investors evaluating 18-year-old ultra-luxury construction.
Apogee South Beach SB 4-D compliance timeline:
| Milestone | Status (mid-2026) |
|---|---|
| Phase 1 milestone inspection | Completed 2024-2025 |
| Critical structural findings | None |
| Phase 2 required | No |
| SIRS reserve study adopted | 2024-2025 |
| Reserve funding method | Phased HOA increase |
| Special assessment for SB 4-D | None levied |
| Estimated reserve fund | ~$4.5M-$6M (est.) |
Investor assessment:
The absence of Phase 2 requirements is a significant positive for a 2008 coastal tower. Related Group construction under post-Andrew codes with Sieger Suarez engineering provides structural confidence. However, with only 67 units sharing reserve funding obligations, per-unit reserve contributions are higher than at Continuum, HOA increases may continue at 8-12% annually until SIRS targets are met.
What to verify before purchase:
- Request the SIRS report and 10-year reserve funding schedule
- Confirm whether elevator modernization, facade maintenance, or garage waterproofing are scheduled
- Review master insurance renewal and windstorm premium trajectory
- Ask about any pending or recently completed capital projects
For full SB 4-D due diligence methodology, see our Florida condo safety guide.
What insurance costs apply at Apogee South Beach?
Florida Estate underwrites insurance cost profile with county-verified rent, tax, and insurance inputs before any wire. Typical 2026 ranges: gross yield 3% to 10% by market, net yield 2% to 5% after 20% to 25% management, property tax near 1% to 2% of assessed value, combined STR taxes near 12% to 13% in major counties, and coastal insurance binders from $2,000 to $8,000 annually. This section requires written HOA estoppel, tax registration proof, and insurance declarations matched to your operating model.
Florida Estate verification steps:
- Model net yield at 2% to 5% after 20% to 25% management and 12% to 13% combined STR taxes
- Confirm county tax registration and DBPR license before the first guest stay
- Request insurance binders showing STR or landlord use before wire transfer
Apogee South Beach’s South of Fifth oceanfront exposure places it in the highest insurance bracket for Miami Beach residential buildings.
| Insurance component | Estimated annual (3BR) | Annual trend |
|---|---|---|
| Master policy allocation (wind + property) | ~$30,000-$42,000/yr | +8-12% per year since 2022 |
| HO-6 (unit interior + contents) | $15,000-$25,000/yr | +6-10% per year |
| Flood (oceanfront zone) | $3,000-$8,000/yr | Moderate increase |
| Loss assessment coverage (recommended) | $1,000-$2,000/yr | Stable |
Insurance drives a substantial portion of HOA fees. Ultra-luxury investors must model beachfront insurance as a permanent structural cost, not a temporary market dislocation.
What are the advantages of investing in Apogee South Beach?
Florida Estate underwrites advantages of investing in apogee south beach with county-verified rent, tax, and insurance inputs before any wire. Typical 2026 ranges: gross yield 3% to 10% by market, net yield 2% to 5% after 20% to 25% management, property tax near 1% to 2% of assessed value, combined STR taxes near 12% to 13% in major counties, and coastal insurance binders from $2,000 to $8,000 annually. This section requires written HOA estoppel, tax registration proof, and insurance declarations matched to your operating model.
| Florida Estate check | Typical 2026 range |
|---|---|
| Net yield after fees | 2% to 5% |
| STR tax stack | 12% to 13% combined |
| DSCR down payment | 25% to 30% |
| Coastal insurance | $2,000 to $8,000+ |
- Only 67 residences, among the lowest unit counts in South of Fifth ultra-luxury tier
- No unit under 3,200 sq ft, uniform large-format product eliminates weak small-unit inventory
- Private garage parking standard, rare and valuable in South Beach
- Flow-through east-west design with simultaneous ocean and city views
- Yabu Pushelberg interiors maintain design relevance despite 2008 delivery
- Related Group development pedigree and Sieger Suarez architectural credibility
- Completed SB 4-D Phase 1 in 2024-2025 without special assessment
- South of Fifth location at South Pointe Park, lowest-density ultra-luxury enclave in Miami Beach
What are the main risks at Apogee South Beach?
Florida Estate underwrites disadvantages and risk factors with county-verified rent, tax, and insurance inputs before any wire. Typical 2026 ranges: gross yield 3% to 10% by market, net yield 2% to 5% after 20% to 25% management, property tax near 1% to 2% of assessed value, combined STR taxes near 12% to 13% in major counties, and coastal insurance binders from $2,000 to $8,000 annually. This section requires written HOA estoppel, tax registration proof, and insurance declarations matched to your operating model.
| Florida Estate check | Typical 2026 range |
|---|---|
| Net yield after fees | 2% to 5% |
| STR tax stack | 12% to 13% combined |
| DSCR down payment | 25% to 30% |
| Coastal insurance | $2,000 to $8,000+ |
- Net yield typically under 1%, carrying costs of $180,000-$250,000+ per year
- HOA fees $4,000-$7,500/month with continued increases from reserves and insurance
- Only 67 units means limited resale comparables and potentially longer exit timelines
- No smaller unit formats, cannot scale down exposure within the building
- Furnished lease setup requires $200,000-$400,000 capital before first tenant
- 2008 construction approaching mechanical system replacement cycles despite clean SB 4-D Phase 1
- Non-homestead property tax on $8M+ values creates $80,000-$100,000+ annual drag
- Competition from Continuum’s 521-unit liquidity and newer SoFi pre-construction supply
- STR prohibition eliminates vacation rental income strategies entirely
Who should consider Apogee South Beach as an investment?
Florida Estate underwrites buyer profile: who should consider apogee south beach with county-verified rent, tax, and insurance inputs before any wire. Typical 2026 ranges: gross yield 3% to 10% by market, net yield 2% to 5% after 20% to 25% management, property tax near 1% to 2% of assessed value, combined STR taxes near 12% to 13% in major counties, and coastal insurance binders from $2,000 to $8,000 annually. This section requires written HOA estoppel, tax registration proof, and insurance declarations matched to your operating model.
Florida Estate verification steps:
- Model net yield at 2% to 5% after 20% to 25% management and 12% to 13% combined STR taxes
- Confirm county tax registration and DBPR license before the first guest stay
- Request insurance binders showing STR or landlord use before wire transfer
| Florida Estate check | Typical 2026 range |
|---|---|
| Net yield after fees | 2% to 5% |
| STR tax stack | 12% to 13% combined |
| DSCR down payment | 25% to 30% |
| Coastal insurance | $2,000 to $8,000+ |
This building works for:
Ultra-high-net-worth investors who want South of Fifth exclusivity without Continuum’s scale. Buyers who need 3,200+ sq ft with private garage in Miami Beach, the alternative set is tiny. Family offices treating Miami exposure as portfolio diversification with personal use during Art Basel and winter season. Investors with 10-15 year hold horizons who believe SoFi ultra-luxury scarcity appreciates faster than broader Miami Beach averages.
This building does not work for:
Yield-focused investors, net returns are negligible at all realistic scenarios. Buyers who need transaction liquidity from deep resale markets, Continuum’s 521 units provide faster exits. Investors uncomfortable with $70,000+ annual HOA plus $85,000+ property tax before insurance. Buyers seeking entry below $7M or unit sizes under 3,000 sq ft, Apogee does not offer those options.
What does a five-year hold look like at Apogee South Beach?
Florida Estate underwrites five-year hold projection with county-verified rent, tax, and insurance inputs before any wire. Typical 2026 ranges: gross yield 3% to 10% by market, net yield 2% to 5% after 20% to 25% management, property tax near 1% to 2% of assessed value, combined STR taxes near 12% to 13% in major counties, and coastal insurance binders from $2,000 to $8,000 annually. This section requires written HOA estoppel, tax registration proof, and insurance declarations matched to your operating model.
Florida Estate verification steps:
- Model net yield at 2% to 5% after 20% to 25% management and 12% to 13% combined STR taxes
- Confirm county tax registration and DBPR license before the first guest stay
- Request insurance binders showing STR or landlord use before wire transfer
Projection for an $8,500,000 half-floor three-bedroom, base-case with 3% annual appreciation:
| Year | Gross rent | NOI (net) | Cumulative cash | Estimated value (3% appreciation) |
|---|---|---|---|---|
| 2026 | $384,000 | $15,064 | $15,064 | $8,755,000 |
| 2027 | $395,520 | $14,500 | $29,564 | $9,016,650 |
| 2028 | $407,386 | $14,800 | $44,364 | $9,287,090 |
| 2029 | $419,608 | $15,000 | $59,364 | $9,553,703 |
| 2030 | $432,096 | $15,200 | $74,564 | $9,785,314 |
Five-year total return: approximately $74,564 cumulative NOI + $1,285,314 unrealized appreciation = $1,359,850 gross total return, or approximately 16.0% cumulative (3.0% annualized) before transaction costs. Ultra-luxury appreciation is volatile, stress-test at 0-2% before committing.
This projection does not account for FIRPTA withholding, 5-6% transaction costs on exit, or furnishing capital.
How does Apogee South Beach compare to South of Fifth ultra-luxury peers?
Florida Estate underwrites comparison: apogee vs south of fifth ultra-luxury peers with county-verified rent, tax, and insurance inputs before any wire. Typical 2026 ranges: gross yield 3% to 10% by market, net yield 2% to 5% after 20% to 25% management, property tax near 1% to 2% of assessed value, combined STR taxes near 12% to 13% in major counties, and coastal insurance binders from $2,000 to $8,000 annually. This section requires written HOA estoppel, tax registration proof, and insurance declarations matched to your operating model.
Florida Estate verification steps:
- Model net yield at 2% to 5% after 20% to 25% management and 12% to 13% combined STR taxes
- Confirm county tax registration and DBPR license before the first guest stay
- Request insurance binders showing STR or landlord use before wire transfer
| Metric | Apogee South Beach (2008) | Continuum South Beach (2002-2008) | Surf Club Four Seasons (2017) |
|---|---|---|---|
| Entry price (3BR) | $7.0M-$10.5M | $4.5M-$9.0M | $8.0M-$14.0M |
| Units | 67 | 521 | 150 |
| Min unit size | 3,200 sq ft | ~1,200 sq ft | ~2,500 sq ft |
| Private garage | Standard | Valet typical | Valet typical |
| HOA/mo (3BR est.) | $4,000-$7,500 | $3,000-$5,500 | $3,500-$6,500 |
| SB 4-D Phase 1 | Completed 2024-2025 | Completed 2023-2024 | ~2042 |
| Net yield estimate | 0.1-0.5% | 0.5-1.5% | 0.2-0.5% |
Apogee wins on exclusivity, floor plate size, and private garages. Continuum wins on liquidity and entry price range. Surf Club wins on oceanfront frontage length and newer construction with distant SB 4-D milestone.
What South of Fifth neighborhood context affects Apogee resale liquidity?
Apogee occupies the southernmost residential point of Miami Beach at Government Cut, adjacent to the Miami Beach Marina and South Pointe Park. The South of Fifth micro-market has fewer than 2,000 total condominium units across all towers, creating genuine scarcity that supports price resilience during corrections but also means resale cycles can extend to 12-18 months for non-view or partially renovated units.
Florida Estate verification steps:
- Model net yield at 2% to 5% after 20% to 25% management and 12% to 13% combined STR taxes
- Confirm county tax registration and DBPR license before the first guest stay
- Request insurance binders showing STR or landlord use before wire transfer
| Florida Estate check | Typical 2026 range |
|---|---|
| Net yield after fees | 2% to 5% |
| STR tax stack | 12% to 13% combined |
| DSCR down payment | 25% to 30% |
| Coastal insurance | $2,000 to $8,000+ |
International buyer demand at Apogee concentrates among Latin American ultra-high-net-worth families and European second-home purchasers who prioritize marina access and SoFi walkability over Surfside or Bal Harbour addresses. Closed sales in 2025-2026 show strong support above $3,000 per square foot for renovated flow-through units with summer kitchens and intact Yabu Pushelberg millwork. Units requiring full interior modernization face longer marketing periods and buyer discount expectations of 8-12% below turnkey comparables.
What due diligence priorities apply at Apogee South Beach?
Florida Estate underwrites due diligence priorities for apogee south beach with county-verified rent, tax, and insurance inputs before any wire. Typical 2026 ranges: gross yield 3% to 10% by market, net yield 2% to 5% after 20% to 25% management, property tax near 1% to 2% of assessed value, combined STR taxes near 12% to 13% in major counties, and coastal insurance binders from $2,000 to $8,000 annually. This section requires written HOA estoppel, tax registration proof, and insurance declarations matched to your operating model.
| Florida Estate check | Typical 2026 range |
|---|---|
| Net yield after fees | 2% to 5% |
| STR tax stack | 12% to 13% combined |
| DSCR down payment | 25% to 30% |
| Coastal insurance | $2,000 to $8,000+ |
Before making an offer at Apogee South Beach, prioritize these verification steps:
- Confirm flow-through exposure: corner units with dual views command premiums
- Verify private garage assignment and any tandem or oversized vehicle restrictions
- Request SIRS report and reserve funding schedule post-2024-2025 Phase 1 inspection
- Model total carrying costs at realistic occupancy including personal use months
- Review Yabu Pushelberg finish condition: some 2008 installations may need refresh for top rents
- Check for pending special assessments or capital projects in board minutes
- Confirm master insurance renewal timeline and premium trajectory
- Request comparable closed sales in the last 18 months: thin market requires careful pricing
- Verify lease approval timeline and tenant screening requirements
- Consult attorney on FIRPTA, entity ownership, and estate planning for $7M+ Florida real estate
For the complete Florida condo due diligence framework, see our due diligence guide. Also review the Florida rental yield guide.
What is Florida Estate’s final assessment of Apogee South Beach?
Apogee South Beach is a South of Fifth scarcity asset that prioritizes large-format exclusivity, private garages, and flow-through design over net yield. With only 67 residences and no unit under 3,200 square feet, Apogee occupies a niche that Continuum cannot replicate, but liquidity on exit is thinner and carrying costs routinely exceed $180,000 per year.
| Florida Estate check | Typical 2026 range |
|---|---|
| Net yield after fees | 2% to 5% |
| STR tax stack | 12% to 13% combined |
| DSCR down payment | 25% to 30% |
| Coastal insurance | $2,000 to $8,000+ |
The right buyer values Sieger Suarez and Yabu Pushelberg pedigree in the lowest-density ultra-luxury tower in SoFi. Completed SB 4-D Phase 1 in 2024-2025 without special assessment removes a major near-term risk. The wrong buyer expects cash-flow positive investing, quick resale liquidity, or entry below $7 million, none of which Apogee provides.
What market context should Apogee South Beach investors verify?
Florida Estate underwrites market context and commercial intake with county-verified rent, tax, and insurance inputs before any wire. Typical 2026 ranges: gross yield 3% to 10% by market, net yield 2% to 5% after 20% to 25% management, property tax near 1% to 2% of assessed value, combined STR taxes near 12% to 13% in major counties, and coastal insurance binders from $2,000 to $8,000 annually. This section requires written HOA estoppel, tax registration proof, and insurance declarations matched to your operating model.
| Florida Estate check | Typical 2026 range |
|---|---|
| Net yield after fees | 2% to 5% |
| STR tax stack | 12% to 13% combined |
| DSCR down payment | 25% to 30% |
| Coastal insurance | $2,000 to $8,000+ |
See the Miami Beach area overview for South of Fifth supply and ultra-luxury buyer trends.
Want a shortlist that includes this building? Submit budget on invest in Miami.
Compare SoFi ultra-luxury peers:
What developer due diligence applies at Apogee South Beach?
Florida Estate underwrites developer due diligence profile with county-verified rent, tax, and insurance inputs before any wire. Typical 2026 ranges: gross yield 3% to 10% by market, net yield 2% to 5% after 20% to 25% management, property tax near 1% to 2% of assessed value, combined STR taxes near 12% to 13% in major counties, and coastal insurance binders from $2,000 to $8,000 annually. This section requires written HOA estoppel, tax registration proof, and insurance declarations matched to your operating model.
| Florida Estate check | Typical 2026 range |
|---|---|
| Net yield after fees | 2% to 5% |
| STR tax stack | 12% to 13% combined |
| DSCR down payment | 25% to 30% |
| Coastal insurance | $2,000 to $8,000+ |
Before you wire pre-con or resale earnest money, read the Related Group developer dossier for deposit escrow rules, delivery history, foreign buyer concentration, and sourced red-flag research steps tied to this tower.
Pair the developer dossier with the Florida due diligence checklist and SB 4-D condo safety guide when buying Miami-Dade condominiums.
What pre-construction review steps apply at Apogee South Beach?
Florida Estate underwrites pre-construction project review with county-verified rent, tax, and insurance inputs before any wire. Typical 2026 ranges: gross yield 3% to 10% by market, net yield 2% to 5% after 20% to 25% management, property tax near 1% to 2% of assessed value, combined STR taxes near 12% to 13% in major counties, and coastal insurance binders from $2,000 to $8,000 annually. This section requires written HOA estoppel, tax registration proof, and insurance declarations matched to your operating model.
Florida Estate verification steps:
- Model net yield at 2% to 5% after 20% to 25% management and 12% to 13% combined STR taxes
- Confirm county tax registration and DBPR license before the first guest stay
- Request insurance binders showing STR or landlord use before wire transfer
| Florida Estate check | Typical 2026 range |
|---|---|
| Net yield after fees | 2% to 5% |
| STR tax stack | 12% to 13% combined |
| DSCR down payment | 25% to 30% |
| Coastal insurance | $2,000 to $8,000+ |
This tower also has a dedicated pre-construction lens covering deposit escrow, delivery timeline, and foreign buyer compliance: Apogee South Beach pre-con review.
Use the project review for reservation decisions and the building review for stabilized yield, HOA fees, and rental restrictions after certificate of occupancy.
Florida captured 21% of all US foreign buyer purchases in 2025, ranking first nationally for over 15 consecutive years per NAR international buyer reporting. Transaction volume reached 16,401 deals worth $10.4 billion, up roughly 50% year over year. Gross rental yields on Florida investment property typically range from 3% to 5% on Miami condos and 6% to 10% in approved Orlando vacation-rental zones, but net yields fall 2 to 4 percentage points after 20% to 25% management fees, property tax near 1% to 2% of assessed value, insurance that can run $2,000 to $8,000 annually on coastal assets, and tourist development tax of 4% to 6% plus 6% Florida sales tax on short-term rent. Florida Estate underwrites each page against those line items before recommending any wire transfer.
Florida Estate applies a repeatable checklist on every acquisition: confirm county zoning and HOA rental minimums in writing, obtain an insurance binder with STR or landlord use declared, verify DBPR vacation rental licensing when stays fall under 30 days, register Florida DOR sales tax and county tourist development tax accounts, and request SB 4-D milestone inspection status on any condominium over three stories. DSCR lenders for foreign nationals commonly require 25% to 30% down and price debt service on net rent, not gross platform screenshots. Cash buyers still need estoppel letters, reserve study summaries, and flood zone disclosures because operating costs, not purchase price alone, determine whether the asset clears a 3% to 5% net yield target. Our underwriting snapshot flags deals where insurance quotes exceed 2% of purchase price or where HOA reserves fund less than 25% of projected special assessment exposure.
What is Florida Estate’s insider tip for Apogee South Beach investors?
Florida Estate underwrites this market with county-verified rent, tax, and insurance inputs before any wire. Typical 2026 ranges include gross yield 3% to 10%, net yield 2% to 5% after 20% to 25% management, property tax near 1% to 2% of assessed value, and combined STR taxes near 12% to 13% in major Florida counties.
Florida Estate verification steps:
- Model net yield at 2% to 5% after 20% to 25% management and 12% to 13% combined STR taxes
- Confirm county tax registration and DBPR license before the first guest stay
- Request insurance binders showing STR or landlord use before wire transfer
| Florida Estate check | Typical 2026 range |
|---|---|
| Net yield after fees | 2% to 5% |
| STR tax stack | 12% to 13% combined |
| DSCR down payment | 25% to 30% |
| Coastal insurance | $2,000 to $8,000+ |
Our insider tip: confirm county STR rules, tax registration, and HOA estoppel in writing before you wire earnest money. Deals that skip verification lose 150 to 300 basis points of net yield when enforcement or special assessments appear post-closing. Match the operating model in writing to the asset class: long-term lease, furnished monthly, or licensed short-term rental.
Who we are (citable snapshot)
Florida Estate is an independent English-language research desk focused on Florida residential property for investors in the US, Canada, the UK, and Latin America. We publish net-yield models, county short-term rental rules, condo milestone inspection context, and foreign-buyer due diligence checklists. We are not a developer and not a listing portal. Enquiries may be referred to Florida-licensed brokers after a free shortlist review. Contact: info@florida-estate.com. For a budget-matched shortlist, use /get-shortlist/ with target market, USD budget, and rental strategy.
Frequently Asked Questions
Net yields range from 0.1% (conservative) to 0.5% (optimistic) on an $8.5M three-bedroom. Ultra-luxury carrying costs compress net returns, investors rely on appreciation and personal use value.
No. Minimum six-month leases with maximum two per year. Nightly and platform short-term rentals are prohibited and strictly enforced in South of Fifth.
Phase 1 milestone inspection completed 2024-2025 without critical findings. No Phase 2 required. SIRS reserves funded through phased HOA increases with no special assessment levied as of mid-2026.
Apogee was designed with only 67 residences from 3,200-4,400 sq ft, no smaller formats exist. This uniform large-format product creates exclusivity but limits buyer and tenant pools compared to Continuum.
Apogee offers superior exclusivity, private garages, and larger floor plates. Continuum offers more liquidity from 521 units and wider price range. Net yields are similarly compressed under 2% at both, choice depends on scarcity vs exit liquidity priority.
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Current availability, carrying-cost projection, and SoFi ultra-luxury comparison for your budget and residence requirements.