1027 Pennsylvania Ave · Miami Beach, FL 33139 · South Beach

Penn Plaza

3-story low-rise, completed 1925, 18 residences in South Beach. 4 for sale on Nov 2, 2026.

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At a glance Penn Plaza (1027 Pennsylvania Ave, South Beach) is a 3-story, 18-unit building completed in 1925. As of Nov 2, 2026, 4 units are for sale and none for rent; the median closed price was $332 per square foot over 4 sales in the last 12 months. FEMA flood zone AE. Source: Miami Assoc. of REALTORS® MLS via Bridge IDX, Miami-Dade Property Appraiser records and the FEMA flood map.

Photo · MLS listing in this building

For sale
4
For rent
0
Median $/SF
$3324 sales · 12 mo
Sold
4last 12 months
Built
1925
Floors
3
Residences
18county
Flood zone
AEFEMA
Owner-occupied
22%
Avg. unit
698sq ft

MLS via Bridge IDX · as of Nov 2, 2026 · How these numbers are made

On the market at Penn Plaza.

The weekly MLS snapshot, newest asks first. Each unit opens its full listing: photos, taxes, history. Or check the live feed for today's inventory.

Snapshot as of Nov 2, 2026.

Listings matched to this building's recorded addresses. I don't have to be the listing agent to show you any unit or to negotiate for you. Search condos in 33139

Penn Plaza, floor by floor.

Every unit the MLS has recorded here, placed by its unit number: floors up, lines across, each column as wide as the units in it. Amber is for sale today (a unit listed both for sale and for rent is amber). Hover or tap a unit to read its record.

17 units seen · MLS via Bridge IDX · as of Nov 2, 2026
  • For sale 4
  • Sold or leased, last 12 months 9
  • Seen in the MLS before that 4
  • No MLS record seen 1
0102030405063101020304050631

Tap a unit to read its record here. Amber and white units open their listing page.

Units seen17of 18 residences on record
Floors with units3floors 1 to 3
Lines6stacks of units, by number

Closed $/SF figures use the 6 recorded sales of these units in the 24 months to Nov 2, 2026; a median needs three. Floor, line and size are the record's. Views and orientation are not in it and are not shown.

The largest typical unit is line 01, a median 930 sf over 3 units seen, recorded with 2 bedrooms.

The lines what the MLS record holds for each stack of units
LineUnits seenTypical sizeBedsOn the marketClosed $/SF · 24 mo
Line 013930 sf212 sales, too few
Line 023790 sf2–1 sale, too few
Line 033800 sf222 sales, too few
Line 043490 sf1––
Line 053550 sf1––
Line 062760 sf211 sale, too few

How this is drawn: a unit's floor and line come from its MLS unit number alone (5614 is floor 56, line 14). A cell exists only where the MLS has recorded a listing, a closing or a lease; a blank means no record was seen, not that no unit exists. Column widths follow each line's median recorded living area. Pre-construction towers and buildings with a thin record have no drawing.

Floor and line from the MLS unit number; a blank cell means no record was seen. How these numbers are made

The read on Penn Plaza.

Activity as of Nov 2, 2026
  • Resale -21%. The median closed price moved from $422/SF in 2022 (4 sales) to $332/SF in 2026 (4 sales), the first and last years with three or more recorded sales.
  • Gross rental yield 13.2%. A year of rent at the median $3.65/SF/mo (8 leases) against the median $332/SF sale (4 sales), both over 12 months, before HOA, taxes and vacancy.
  • Asks run +35% against closings. Sellers ask a median $448/SF (4 listings) against $332/SF closed (4 sales, 12 months). That gap is negotiation room. Bring the comps.
  • Sells in a median 195 days. Days on market across the 4 sales closed in the last 12 months.
  • A renters' building. Leases outnumbered sales 2 to 1 over the last 12 months (8 leases, 4 sales), at a median $2,700 a month.

Where it ranks citywide, condo buildings in 17 Miami neighborhoods

  • #9 of 584 · highest sales turnover27.8% of units sold in 24 months · n 5 · Oct 2024 to Sep 2026

See the full rankings · How rankings are made

Read the full record 4 paragraphs and 10 facts, every figure from the MLS and county record

Penn Plaza is a low-rise condominium of three floors at 1027 Pennsylvania Ave in South Beach, built in 1925. County folio records count 18 residences, averaging 698 SF of living area. It is one of two buildings recorded under the Penn Plaza name.

Four units were for sale on November 2, 2026, asking $329K to $425K (median ask $448/SF across 4 listings). Four sales closed between November 2, 2025 and November 2, 2026, from $205K to $350K, a median $332/SF, after a median 195 days on the market. The year before saw two closed sales. Across 15 recorded sales since 2021, the best year by median price per square foot was 2022, at $422 over 4 sales. That 12-month median is the lowest among the 83 South Beach buildings with at least three sales in the same window. Two-bedrooms made up five of the 6 sales in the last 24 months, at a median $288,000.

Eight leases were signed over the same 12 months, at a median $2,700 a month (range $1,700 to $3,000). Leases outnumbered sales 2 to 1 over that year, so renters are a large share of who lives here.

County records show 22% of residences as owner-occupied, which points to an investor-heavy ownership base.

Sources: Miami Assoc. of REALTORS® MLS via Bridge IDX (activity as of November 2, 2026), Miami-Dade Property Appraiser records. Blanks mean the record doesn't state it; nothing here is estimated.

The record

Address
1027 Pennsylvania Ave, Miami Beach 33139
Neighborhood
South Beach
Year built
1925
Floors
3
Residences (county-verified)
18
Owner-occupied
22% of residences
Avg. unit size
698 sq ft
Total living area
12,570 sq ft
County condo folios
18
Recorded MLS listings
49

The numbers at Penn Plaza.

Every sale and lease the MLS has recorded at this address, sales first.

MLS via Bridge IDX · as of Nov 2, 2026

Median $/SF by year closed

Every recorded sale at this address, 2021 to 2026. Count in the tooltip.

$211$422$3132021$4222022$3422024$3602025$3322026$211$422$3132021$4222022$3422024$3602025$3322026

Pale bars: fewer than three sales that year, so the bar is the sale itself or the average of two, too few for a median.

Year by year, every recorded closing
YearSalesMedian $/SFLeasesMedian rent
2026 (to date)4$3327$2,800/mo
20251$360*5$2,000/mo
20244$3423$2,450/mo
2023––3$2,700/mo
20224$4225$1,900/mo
20212$313*5$1,500/mo
2020––1$1,700/mo*

* Fewer than three closings that year: the figure is the closing itself or the average of two, too few for a median.

Show all closings 15 sales · 29 leases on record since 2021

Closed sales Nov 2, 2024 to Nov 2, 2026 · 6

UnitBDBASFAskedClosed$/SFClose dateDOM
30222790$359,000$350,000$443Oct 9, 2026213
30122930$299,000$288,000$310Jun 10, 2026120
10111580$215,000$205,000$353Jun 10, 2026202
30321800$287,500$246,500$308Mar 19, 2026188
10321800$325,000$288,000$360Jan 27, 202564
30622760$329,000$300,000$395Nov 27, 202429

Leases signed Nov 2, 2025 to Nov 2, 2026 · 8

UnitBDBASFAsked/moLeased/mo$/SF/moLease dateDOM
10322800$2,950/mo$2,950/mo$3.69Oct 22, 202615
30321800$2,650/mo$2,600/mo$3.25Sep 1, 202633
30622760$2,800/mo$2,800/mo$3.68Jul 8, 202666
20401490$1,700/mo$1,700/mo$3.47Jun 1, 202667
30401490$1,900/mo$1,850/mo$3.78May 13, 202640
10222790$2,950/mo$3,000/mo$3.80May 7, 202627
10322800$2,900/mo$2,900/mo$3.63Apr 2, 202617
10511550$1,750/mo$1,750/mo$3.18Dec 8, 2025159

Data: Miami Assoc. of REALTORS® MLS via Bridge IDX, as of Nov 2, 2026. Listings matched to this building's recorded addresses; pending includes under-contract. Closed listings shown as records only, no photos. Blanks mean the record doesn't state it. How these numbers are made

The file on Penn Plaza.

The rules on record, the documents in my files, the two Florida checks every buyer should run, and the buildings around it. Each card opens.

FEMA flood zone

AE

Inside FEMA's Special Flood Hazard Area. A federally backed mortgage requires flood insurance here.

What the zone means
  • The 1% annual chance ("100-year") flood area, with a base flood elevation set.
  • Base flood elevation 8 ft (NGVD29).
  • The zone is a map line, not a premium. Ask the association for its master flood policy, and get a flood quote for the specific unit before you commit.

FEMA National Flood Hazard Layer, checked at the building's mapped location on Oct 12, 2026. Open the official map ↗

Milestone structural inspection

Turned 30 in 1955

The statute's first deadline for a building this age was December 31, 2024, then every 10 years.

What the deadline means
  • Based on year built 1925 (county record). The statute counts from the certificate of occupancy date, which can differ.
  • The association must give every owner the inspector's summary. Ask for it, and for the structural integrity reserve study, before you commit.

Fla. Stat. § 553.899(3) ↗ and Miami-Dade recertification ↗, read Oct 9, 2026. What the deadline means for buyers

Nearby

Around Penn Plaza

5 more nearby

Smaller buildings close by: The Central (160 m) · The Anton (190 m) · The Windsor (260 m) · Park Square (270 m) · 929 (270 m) · Euclid Townhouses (300 m)

Compare with the two nearest →Every South Beach building →Distances are straight-line. Building data from Miami Assoc. of REALTORS® MLS records via Bridge IDX.

Own here, or looking here

Owners: tell me your unit and I'll prepare its value myself. Buyers and renters: I'll tell you when a unit here lists or sells. Either way it starts a conversation with me, not a mailing list.

Own here?

Get your unit's value

Tell me your unit and I'll prepare its value myself, from Penn Plaza's closed sales and what is listed now. Then we talk it through.

Phone or email. One is enough.

Thinking about

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Looking here?

Get alerts when a unit lists or sells

When a unit at Penn Plaza lists or sells, I'll let you know. I send these myself, not a robot.

Phone or email. One is enough.

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Enrique Ponte Ojeda on a balcony overlooking the water in Miami
I read the building before you buy or sell a unit in it.Closed history, the association's rules, what is really for sale and what it should trade at. Then we talk.
Enrique Ponte Ojeda
Licensed Florida Real Estate Agent · Carmona Realty Group

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