# Monaco Yacht Club condos: resale prices and rental rules

> Source: https://bluebaybrokers.com/buildings/monaco-yacht-club
> Publisher: BlueBay Brokers LLC, 1541 Brickell Ave #1201, Miami FL 33129 (Florida broker BK3411036)
> Figures read on: 2026-10-16
> 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.

## The bet

Monaco Yacht Club is a 39-residence bayfront building with its own marina on Indian Creek, delivered in 2022, and the number that decides it is $2,191: what its one listing, penthouse PH2, asks per foot, about where PH1 closed in 2024 ($2,245) and far over the $1,344 that 33141 closes at from $3 million to $6 million. You buy the water and the slip here, not a yield.

## Absorption and timing

How many homes close each year in this building's price band and postcode, against how many it is about to deliver. No brochure answers this, and it governs both the resale and the developer's willingness to discount.

Units delivering 39 all at once, to the same buyer pool

Closings per year 68 trailing 12 months, 33141, same band

Years of supply 0.6 this building alone

Band closes at $1,344/sf median of real closings, not asks

| Band, 33141 | Closed / 12 mo | Median price | Median $/sf |
|---|---|---|---|
| $3M – $6M | 25 | $4,100,000 | $1,344 |
| $1.5M – $3M | 43 | $2,000,000 | $1,021 |

**A small building that rarely trades**

33141 closes 68 homes a year from $1.5 million to $6 million, so all 39 residences are 0.6 years of that market. The building itself trades thinly: 13 MLS closings since 2022, one in the last twelve months (7B, a 1,299 sf two-bedroom, $1,750,000 in March 2026, 25.5 percent under its first price after 258 days). One residence is for sale. Scarcity cuts both ways: few competing listings, and few comparables to defend a price.

## The market it lands in

Everything for sale in 33141 today against everything that actually sold there this past year. This is the pool your resale competes in.

Active inventory 557 homes listed across 33141

Sold, trailing year 522 recorded closings, every price

Months of supply 12.8 under 6 favours sellers, over 12 favours buyers

Asking vs sold $498/sf asked, against $441/sf actually paid

How to read the gap

Asking is an opinion, sold is a fact, and months of supply is your leverage. Do not compare this building to the postcode median, which mixes in stock built decades ago: the comparison that counts is the band below.

## What recent deliveries resell for

The only read-across that means anything here: condominiums in 33141 built from 2023 onward, people who bought new and took delivery, and what their units resell for now.

New stock resells at $1,845/sf median of 11 closings this year

Movement since — across recently delivered buildings

This building asks $2,191/sf entry residences

Entry vs new stock +19% below zero means you buy new under resale

| Year of resale | Closings | Median $/sf |
|---|---|---|
| 2025 | 11 | $1,845 |
| 2026 | 2 | withheld, 2 sales |

Why a year can show no figure

Under 5 transactions a median is noise, so it is withheld. Recently delivered buildings are thin by nature, which is itself worth knowing before counting on a quick resale.

## The basis

What it asks per foot against what its band actually closes at. Comparing one preconstruction ask to another tells you nothing: both are price lists.

Asking

$2,191/sf

1 residence for sale today, PH2 at $4.99M on 2,278 sf ($2,191/sf) · 1 closing in the last 12 months · 13 MLS closings since 2022, $1.6M to $5.7M

Band closes at $1,344/sf $3M – $6M, trailing 12 months

Listed here today 1 median $2,191/sf

**Where it asks, and what clears**

PH2, a 2,278 sf three-bedroom penthouse, asks $4,990,000, $2,191 a foot, after 678 days on the market and a cut from $5,500,000. The building's best comparable is PH1, which closed in July 2024 at $5,700,000, $2,245 a foot. Below the penthouses the building has cleared $1,347 to $1,688 a foot since 2025, in line with the $1,344 for 33141 closings from $3 million to $6 million. The penthouse premium is real, but it rests on one sale.

## On the MLS today

1 listing at this address is Active right now, pulled 2026-10-16. Leases are excluded: a monthly rent sitting in the price column wrecks any comparison. This is what a buyer can actually transact on today, as opposed to what a price list says.

| Unit | Bd/Ba | Interior | Asking | $/sf | HOA / mo | Days |
|---|---|---|---|---|---|---|
| [PH2](https://bluebaybrokers.com/listing?mls=A11702987) | 3/4 | 2,278 sf | $4,990,000 | $2,191 | $5,121 | 678 |

How to read this table

On new construction the MLS area is routinely the total rather than the interior, and it runs larger than the County's recorded figure, by 10 to 30 percent on the units already tested in this pipeline. Treat the $/sf column as the seller's own arithmetic and re-divide by the recorded area before comparing it with anything delivered.

## Photographs

The 24 photographs carried on MLS listing A11702987 at this address. On a building still under construction these are the developer's renders and the sales-gallery material, not the finished product.

**Photographs** © SEFMLS, displayed from the MLS under the same licence that permits display of the listing itself. Renders are the developer's own and are subject to change.

## Carry at delivery

What it costs to own before any income, on the smallest residence of 2,278 sf.

| HOA at $2.25/sf/month | −$61,506 |
|---|---|
| Property tax at 2.02% of $4,990,000 | −$100,798 |
| Insurance (HO-6), $3.60/sf | −$8,201 |
| Annual carry, before any income | −$170,505 |

**Not a rental play**

One lease has closed on the MLS: 8D, a three-bedroom, at $14,000 a month in August 2025 after asking $19,000. At that rent PH2 grosses 3.4 percent and nets close to zero after the association ($5,121 a month) and tax at 2.02 percent. Two current rental asks of $25,000 and $30,000 a month read as furnished season rates. Buy it to live in.

## How it was built and sold

| Construction financing | Construction loan of $55M from Och-Ziff, January 2019, ahead of the sales launch (The Real Deal). Fortune International ran sales from about $1.1M (Florida YIMBY). |
|---|---|
| Presold | Not disclosed |
| Delivery | Delivered. Construction by Moss finished late 2021 and the temporary certificate of occupancy came in May 2022, with two residences then left unsold (Florida YIMBY). In 2023 buyers sued the developer entity alleging the marina had been misrepresented; the developer called the claim baseless (The Real Deal, March 2023). |
| Developer | Optimum Asset Management USA, through 6800 Indian Creek LLC, then led by Ricardo Tabet (The Real Deal, 2023). Arquitectonica designed the building and Piero Lissoni the interiors. |
| Rental policy | Rental terms not published. Three leases on the MLS since 2025, one closed at $14,000 a month (read 16 October 2026). The declaration decides. |

## Recommendation

BlueBay Brokers · Monaco Yacht Club

### Buy the slip, negotiate the penthouse

For an owner who wants the bay and a boat at the door, this is one of very few delivered buildings in 33141 that offer both, at 39 residences. Get the slip size and its rights in writing: the 2023 suit was about the marina.

PH2 has sat 678 days at PH1's 2024 price. The building's last sale closed 25.5 percent under its first ask: offer from the closings, not from the list.

## Want the rest of it?

I am Steve Gabison, a Florida broker, licence BK3411036. I wrote this page. New developments are Carolina Peña's desk at BlueBay Brokers, broker, licence BK3288753: she will send you what is behind it, in English or Spanish.

#### The full file

This page is the public read. The file adds the full closing record unit by unit, what resellers are asking against what they paid, the recorded rental language, and a rental underwriting on the specific line you are looking at. No charge.

#### On the purchase

You are buying a resale here, so the seller's side pays the co-broke and representation costs you nothing. I argue from the recorded closing prices above, including what the current owner actually paid and when.

#### Before anything else

The rental policy here is not published, so I will not sell you a management plan on it. I will get the recorded declaration language and tell you what is actually permitted. That has to be true before the rest matters.

## Read next

- [72 Park Miami Beach, Miami Beach, Delivered 2025](https://bluebaybrokers.com/buildings/72-park)
- [Five Park Miami Beach, Miami Beach, Delivered 2024](https://bluebaybrokers.com/buildings/five-park)
- [7200 Collins, North Beach, Delivering 2027](https://bluebaybrokers.com/buildings/7200-collins)
- [All the new-development studies](https://bluebaybrokers.com/new-developments)
- [Developer price vs resale on six delivered Miami condos](https://bluebaybrokers.com/developer-price-vs-resale-miami)
- [Buying preconstruction in Miami as a foreign buyer](https://bluebaybrokers.com/buy-preconstruction-miami-foreign-buyer)

## Sources

- [The Real Deal, Monaco Yacht Club & Residences scores construction loan, to launch sales later this month (January 2019)](https://therealdeal.com/miami/2019/01/10/monaco-yacht-club-residences-scores-construction-loan-to-launch-sales-later-this-month/)
- [Florida YIMBY, Monaco Yacht Club and Residences gets TCO, begins closings in Miami Beach (May 2022)](https://floridayimby.com/2022/05/european-styled-monaco-yacht-club-and-residences-gets-tco-begins-closings-in-miami-beach.html)
- [The Real Deal, Monaco Yacht Club buyers sue, alleging false advertising of luxury condo project (March 2023)](https://therealdeal.com/miami/2023/03/08/monaco-yacht-club-buyers-sue-alleging-false-advertising-of-luxury-condo-project/)

**Method, licence and disclaimers**

**Absorption and closed prices** © 2026 Miami Association of Realtors / SEFMLS via Bridge Data Output, pulled 2026-10-16. Deemed reliable, not guaranteed.

**Developer data.** Unit counts, sizes, pricing and delivery dates are the developer's own and are not verified by BlueBay Brokers LLC, which does not represent the developers named here and receives no compensation from them.

**Not investment advice.** A scenario built from stated assumptions. Deposit carry uses simple interest and ignores tax. The recorded condominium documents govern every legal question raised here. Consult your own tax and legal advisers.

**Rental policy** as published by the developer and routinely amended before closing.