# 1 Hotel & Homes South Beach

> Source: https://bluebaybrokers.com/1-hotel-south-beach
> Publisher: BlueBay Brokers LLC, 1541 Brickell Ave #1201, Miami FL 33129 (Florida broker BK3411036)
> Plain-text copy of the page above for AI assistants and readers. Quote with attribution to BlueBay Brokers; each figure carries its own source and read date. Nothing here certifies that a short-term rental is legal at any address.

Miami Beach · South Beach · oceanfront · condo-hotel

Starwood Capital's oceanfront sustainability-first condo-hotel at 102 24th Street. Owners can enroll in the 1 Hotels rental program or run their unit independently. Eight years of real MLS closings below, not a projection.

**…** active listings for sale · updated live from the MLS

South Beach STR market comps (PriceLabs), not a projection for this building

50–71%occupancy · trailing 12 months

$340–$1,079ADR · trailing 12 months

No unit at 1 Hotel & Homes is managed by Property Management Brickell, so we can't show you a real statement the way we can for buildings we operate. This range comes from PriceLabs' neighborhood data for the oceanfront South Beach corridor near 24th & Collins (~350 comparable listings tracked) — the spread reflects unit size and tier, not one single number. Ask Steve for the underlying breakdown before underwriting a specific floorplan.

## Available now

Live active listings for sale, lowest price first — leases excluded. Click any unit for the full presentation.

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Before you underwrite

## The condo-hotel structure

What makes 1 Hotel & Homes different from a standard Brickell or Downtown condo tower.

#### Rental program is optional, not mandatory

Enroll in the 1 Hotels rental program (revenue-share, full hotel-managed operations) or run your own STR / mid-term lease independently, subject to building rules and the Miami Beach STR ordinance.

#### HOA carries real hotel-grade service

Budget roughly **$1.60–$2.20/sq ft/mo** — beach service, three pools, spa and 24/7 concierge are included, not billed as a separate resort fee to owners.

#### Financing is the first thing to check

**Non-warrantable** — conventional financing is typically off the table. Expect a specialty condo-hotel loan or a cash close; confirm your lender before you write an offer.

#### 14% transient tax applies if rented short-term

Any stay of 6 months or less carries 14% in Miami Beach: 6% Florida sales tax, 1% Miami-Dade surtax, 4% Miami Beach resort tax and 3% county convention tax. The guest pays it on top of the rate; factor it into any short-term rental pro forma.

#### Treat income as an offset, not a yield play

HOA + hotel-service fees eat a real slice of gross rent. The honest positioning: buy for the brand, the beach, and the address; let rental income offset carry rather than underwriting a cap rate.

#### Sustainability is a real differentiator here

LEED-Silver, organic linens, reclaimed materials — this sells to a buyer who cares about the brand ethos, not only the finishes.

The evidence

## Eight years of closed sales

Every closed sale at 102 24th Street from August 2019 through July 2026 — 79 transactions straight from the MLS, every bedroom count combined. **28 additional "Closed" records were excluded** — near-zero close prices flag them as leases or non-arms-length transfers, not sales; see the note below.

Since the 2020 low +99% $1,402 → $2,786 per sq ft

Trailing 12mo pace 5.4× 11 closings vs 2 the year before

Closing below ask, TTM 2.0% tightest gap in the 8-year sample

All-time high $2,786/sf set in 2026, current

**Median price per square foot** all closed sales · n above each bar

**How far under asking buyers close** median sale-to-list gap

* 2019 covers Aug–Dec and 2026 covers Jan–Jul; both are partial years. 2025 rests on just 2 closings — treat it as directional, not a trend point. All bedroom counts combined; the building trades too thin to chart each floorplan separately with confidence.

### Most recent trades

The ten most recent closings across all floorplans — the freshest comps available.

| Unit | Type | Closed | Price | $/sq ft |
|---|---|---|---|---|
| #PH-1613 | 2 BR | 2026-05 | $4,050,000 | $2,581 |
| #1413 | 3 BR | 2026-05 | $4,770,000 | $2,794 |
| #1520 | 2 BR | 2026-05 | $5,500,000 | $3,968 |
| #1016 | 1 BR | 2026-05 | $2,450,000 | $2,829 |
| #1213 | 1 BR | 2026-04 | $2,275,000 | $2,548 |
| #1112 | 1 BR | 2026-04 | $2,355,000 | $2,719 |
| #1440 | 3 BR | 2026-02 | $6,075,000 | $2,904 |
| #PH-1617 | 3 BR | 2026-01 | $7,050,000 | $2,778 |
| #1519 | 3 BR | 2026-01 | $6,495,000 | $3,327 |
| #1544 | 3 BR | 2026-01 | $4,500,000 | $2,667 |

#### No correction here — new highs in 2026

Off the 2020 pandemic dip ($1,402/sf), prices have more than doubled to an all-time high of **$2,786/sf** in 2026. Unlike towers working through a post-2023 pullback, 1 Hotel & Homes hasn't given anything back.

#### Volume just came roaring back

Trailing 12 months closed **11 sales** (0.92/mo) vs. just 2 in the prior 12 months (0.17/mo) — over 5× the pace. 2025 alone saw only 2 MLS-facilitated sales all year.

#### Sellers are firmly in control

Trailing-12-month closings landed a median of just **2.0% under asking** — the tightest gap in the 8-year sample, versus 8.7–10.8% back in 2019–2020. Buyers aren't finding much room to negotiate.

#### A quarter of "closed" MLS records aren't sales

Of 107 Closed records pulled from Bridge for this address, **28 (26%)** closed at near-zero prices — leases or non-arms-length transfers, not market sales — and are excluded from every figure here. Worth knowing if you see a different number quoted elsewhere.

#### This building trades thin

79 clean sales across 7½ years works out to roughly 10–11 a year across all floorplans combined — too thin to chart 1BR/2BR/3BR separately with confidence the way we can at a higher-volume tower. Lean on individual comps, not a single trend line.

#### What it means if you're buying

Expect to compete near asking — this is not a market where a lowball gets traction right now. Treat any listed "comp" trading meaningfully under ~$1,500/sf as a flag to investigate (relisting, related-party transfer), not a bargain.

Your advantage with BlueBay Brokers

## Want the real numbers before you tour?

I’ll pull rental-program economics, HOA and reserve status, financing paths and an honest projected return on any unit here — and represent you through the offer. No cost, no pressure.

SG

Steve Gabison

BlueBay Brokers · Broker Lic. BK3411036

786-622-6285 · steve@bluebaybrokers.com

[WhatsApp Steve](https://wa.me/17866226285?text=Hi%20Steve%2C%20I'm%20interested%20in%201%20Hotel%20%26%20Homes%20South%20Beach) [Email BlueBay Brokers](mailto:steve@bluebaybrokers.com?subject=1%20Hotel%20%26%20Homes%20South%20Beach)