Five Park Miami Beach
By the Ivan & Mike Team: Miami’s #1 New Construction Real Estate Advisors
Where the Sky Meets the Sea
There is a moment, as you cross the MacArthur Causeway toward Miami Beach, when Five Park rises above the skyline with quiet confidence. Its elliptical silhouette shifts with the light, a warm glow at sunrise, a glassy mirror at noon, a luminous beacon at dusk, signaling that this is more than a building and a new way of living at the edge of the city and the sea.
For a certain kind of buyer, someone who has experienced penthouses in Manhattan and villas in St. Tropez, Five Park feels instantly different. It is the address that makes even the most seasoned global resident pause, with uninterrupted Biscayne Bay views, a private park at your doorstep, and the ability to walk to a Michelin caliber dinner without ever getting in a car.
What Is Five Park Miami Beach?
Five Park Miami Beach is the tallest luxury residential tower on Miami Beach, rising 48 stories at 500 Alton Road in the coveted South of Fifth neighborhood. Developed by Terra Group and GFO Investments, it is the first major luxury residential tower delivered to Miami Beach in more than a decade.
The tower was designed by Arquitectonica, with interiors by Gabellini Sheppard and design direction by Anda Andrei. French conceptual artist Daniel Buren created the iconic 158‑foot enclosed Canopy Bridge, which connects Five Park directly to the South of Fifth pedestrian experience.
Completed in late 2024, Five Park now offers 226 move‑in‑ready residences in one of the most undersupplied luxury markets in the world. The site was previously home to the abandoned South Shore Hospital, making its transformation a flagship story of Miami Beach renewal and design ambition.
The Neighborhood: South of Fifth, Miami Beach’s Most Exclusive Enclave
No look at Five Park is complete without understanding its setting. South of Fifth (SoFi) is the southern tip of Miami Beach, framed by the Atlantic Ocean, Government Cut, and Biscayne Bay, and is considered one of the most coveted micro‑markets in the United States.
Within minutes on foot from Five Park, residents can enjoy South Pointe Park, the Miami Beach Baywalk, the marina, and some of Miami’s most acclaimed, often Michelin‑recognized restaurants. The area has long commanded premium pricing because it is physically scarce, an island within an island with almost no opportunity for new supply.
Five Park’s Canopy Bridge further elevates the neighborhood by connecting a previously disconnected block across the MacArthur Causeway and tying the tower directly into the South of Fifth pedestrian experience, turning the building into a place to truly belong.
Lifestyle and Amenities: A World Unto Itself
With more than 50,000 square feet of amenities, Five Park was designed to function as a self-contained luxury ecosystem. The experience begins before you even reach the front door.
Canopy Park: Your Private Three-Acre Park
Adjacent to the building, the three-acre Canopy Park is a lush, publicly accessible green space featuring a MONSTRUM playground, an orchid garden, an outdoor gym, jogging paths, art installations, shaded gardens, and a dog park. Designed by ArquitetonicaGEO, the park was also conceived with long-term resilience in mind, a bioswale or “dry river” channels excess rainwater and high tides into a cistern used for irrigation, future-proofing the landscape against climate change.
The Park Club at Cafe Flora
At the heart of Five Park’s social programming is The Park Club, anchored by Cafe Flora and helmed by James Beard Award-winning chef Michelle Bernstein. This residents-only venue blurs the line between a luxury hotel club and a neighborhood living room, a space where mornings begin with café au lait and evenings unfold over elevated cuisine, all without leaving the building’s embrace.
Resort-Caliber Wellness and Recreation
The amenity deck offers breathtaking sunset views of the Miami skyline and bay, visible from both the adults-only and family-friendly pools, complete with shaded trellises, a sunset terrace, private cabanas, lounges, and a meditation deck. The fully outfitted gym, spa with treatment rooms, and co-working spaces with private offices and boardrooms ensure that Five Park residents never need to choose between productivity and well-being.
Exclusive Beach Access
Residents enjoy access to a private beach club in South of Fifth, reachable via a chauffeured Five Park Moke, the electric beach vehicle that has become one of the building’s most charming signatures.
Additional Signature Services
- 24-hour concierge and butler service
- Valet and electric vehicle charging stations
- Children’s learning lab and teen club
- Private screening room
- Luxury short-term guest suites for visiting family and friends
- State-of-the-art fiber-optic WiFi throughout all residences, amenities, garages, and elevator spaces
Residences and Design: Where Art Meets Architecture
Five Park’s residential program is divided into two distinct collections, each designed for a different lifestyle profile.
The Canopy Club Residences (Floors 27 to 48)
The 98 Canopy Club Residences occupy floors 27 to 48 with two to five bedroom layouts from about 1,434 to over 6,000 square feet. These flagship homes offer private elevator entry, 10 foot ceilings, floor to ceiling glass, and expansive terraces with sweeping 360 degree water views. Kitchens showcase custom Italian cabinetry and Gaggenau appliances, while primary baths feel like private spas with Italian vanities and select full wet rooms.
The Park Residences (Floors 8 to 25)
The Park Residences span floors 8 to 25 and offer 128 homes in one to three bedroom layouts from approximately 878 to 2,300 square feet. Designed around a warm, tropical modern aesthetic, these residences emphasize natural light and a more accessible entry point into the Five Park lifestyle. All homes feature smart floor plans, Hansgrohe fixtures, efficient washers and dryers, and a custom building app to manage services and amenities from a single platform.
Market Performance and Pricing: What the Numbers Reveal
Five Park’s market data tells a compelling story of consistent, multi-year demand that very few buildings in Miami Beach have matched. According to Miami real estate market data, the building currently carries an average list price of approximately $4,619,000 and an average sale price of $5,355,000 over the past six months, with a price-per-square-foot average of $2,386.
Current asking prices range from $1,199,000 for entry-level Park Residences to $16,000,000 for combined floor units, with the most competitive demand concentrated in the $3.5 million to $10 million range. This bracket aligns with the broader South Beach luxury condo market, which reported a 19% increase in annual sales in 2025 compared to 2024, the highest growth rate of any Miami neighborhood.
Five Park at a Glance: Key Market Metrics
| Metric | Data Point |
|---|---|
| Building Height | 48 stories, 519 feet |
| Total Residences | 226 (98 Canopy Club + 128 Park) |
| Residence Sizes | 878 to 6,000+ sq ft |
| Price Range | $1.2M to $16M+ |
| Avg. List Price | $4,619,000 |
| Avg. Sale Price (6 months) | $5,355,000 |
| Avg. Price per Sq Ft | $2,386 |
| Developer | Terra Group + CFO Investments |
| Architect | Arquitectonica |
| Interior Design | Gabellini Sheppard |
| Year Completed | 2024 |
The Ivan & Mike Team: Miami’s Dominant Force at Five Park
When a building of Five Park’s caliber opens its doors, it attracts the attention of every luxury real estate team in Miami. But dominance in a building is not claimed through proximity to it, it is earned through transaction volume, timing, and depth of knowledge. On every one of those dimensions, the Ivan & Mike Team stands apart.
Ivan Chorney and Michael Martirena have been the most active real estate team inside Five Park since the building’s earliest pre-construction phase, closing more transactions than any other team in the building. Their combined track record at Five Park, spanning verified sales and rentals across multiple years, totals over $69 million in closed volume, a record no other team in the building has come close to matching.
Five Park Sales Record: A Timeline of Market Leadership
Their presence began before most buyers even knew the building’s name:
2022, Pre-Construction Commitment
When most of the market was still deciding whether Five Park would live up to its ambition, Ivan & Mike were already closing. That year alone, they executed three landmark transactions:
- Unit 4201.05 sold for $13,250,000, establishing a pricing benchmark for the building’s flagship combined residences
- Unit 4003 closed at $6,900,000, demonstrating demand across multiple price tiers
- Unit 3503 transacted at $5,712,500, confirming mid-tower liquidity
- Unit 3104 sold for $2,625,000
By the end of 2022, Ivan & Mike had already transacted over $28.4 million in Five Park volume, before the building had even opened its doors.
2023, Continued Command of the Upper Floors
- Unit 4301 sold for $9,000,000, one of the building’s highest-floor transactions, reflecting the premium commanded by the Canopy Club Residences’ uppermost homes
2025, Building Delivery, Continued Leadership
- Unit 3601 closed at $6,650,000
- Rental of Unit 4104 at $240,000 per year, setting an early benchmark for the building’s premium rental tier
- Rental of Unit 2903 at $255,000 per year, confirming consistent demand from high-income tenants
2026, Closing the Loop
With two more closings completing imminently, Ivan & Mike’s Five Park story continues at the highest level:
- Unit 3903.04 closing at $10,950,000
- Unit 4201.05 (second sale) at $12,950,000, demonstrating not only the building’s appreciation trajectory but the team’s ability to transact the same premium asset twice
- Annual rental of Unit 3101 at $558,000, setting a compelling rental income benchmark
Total Sales Volume: $68,037,500+
Total Rental Volume: $1,053,000+
Combined Transaction Volume: $69,090,500+
This is not a coincidence. It is the result of an advisory relationship that begins long before a building opens, built on developer access, market intelligence, and the trust of buyers who understand that in a market like Five Park, the right representation is not optional , it is decisive.
Explore the team’s current Five Park Miami Beach listings or review luxury condo opportunities in South of Fifth to understand the full scope of what is available now.
Five Park as an Investment: The Case for Miami Beach’s Tallest Tower
The investment thesis for Five Park rests on three structural pillars: scarcity, demand, and yield.
Structural Scarcity
Miami Beach is a barrier island with no new land to develop. Five Park was the first new luxury residential tower delivered to South Beach in over a decade, and the odds of a comparable project emerging nearby are slim. In a market where Miami Beach luxury condos have consistently outperformed mainland properties, new construction scarcity functions as a permanent pricing floor.
Relentless Demand
The global migration of capital to Miami is not a trend, it is a structural realignment. According to Ivan & Mike’s 2026 market analysis, monthly residential dollar volume in Miami‑Dade surpassed $1.6 billion in late 2025, with transactions above $1 million growing close to 20% year over year. Cash buyers now represent roughly 43% of all Miami‑Dade deals, an even higher share in the ultra‑luxury segment.
Miami’s luxury condo market crossed the $1,000 per square foot mark for the first time in 2025, finishing the year at a median of about $1,030 per square foot and posting mid‑single‑digit annual appreciation. Five Park’s current average near $2,386 per square foot reflects the premium investors are willing to pay for best‑in‑class new construction. Over the past decade, Miami condo prices have more than doubled, with no clear catalyst suggesting a reversal.
Attractive Rental Yields
For buyers focused on income, Five Park’s rental history is particularly compelling. The verified leases at $240,000, $255,000, and $558,000 per year signal that high‑income tenants from hedge funds, family offices, and corporate relocations are willing to pay a premium for this building. In top Miami buildings, luxury rentals can generate gross yields near 7% or higher, and Five Park’s combination of height, design, and amenities places it firmly at the top of that range.
Florida’s tax advantages remain a powerful magnet. With no state income tax and no estate tax, the total cost of ownership in Five Park is structurally more attractive than comparable properties in New York, California, or London.
Who Buys at Five Park?
Five Park attracts globally minded, financially sophisticated buyers who see real estate as part of a larger wealth strategy rather than just housing. Its tower‑top views, design pedigree, South of Fifth location, and full‑service amenities resonate with several key profiles.
Wealth Migration Buyers: High‑net‑worth executives and families relocating from major U.S. and international cities who want a primary residence that matches their global standard of living.
International Investors: Latin American, European, and Middle Eastern investors who view Miami Beach as a dollar‑denominated, tax‑efficient store of wealth with strong liquidity.
Strategic Second-Home Buyers: Ultra‑high‑net‑worth individuals who keep primary homes elsewhere but want a Miami property that performs both as a lifestyle asset and as an income‑producing investment.
Design-Led End Users: Buyers drawn to Arquitectonica’s architecture, Gabellini Sheppard’s interiors, and the curated art and lifestyle program, for whom Five Park is simply the most compelling address on Miami Beach.
For buyers across all of these profiles, the critical variable is having access to the right intelligence at the right moment. That is precisely the role that Ivan & Mike play.
Why Work with Ivan & Mike for Five Park
The Ivan & Mike Team are not simply agents who know Five Park, they are the team that has defined the market inside the building. With more than $69 million in combined Five Park transactions from pre‑construction through 2026 closings, their presence and results are unmatched.
As Miami’s #1 New Construction Team at Compass, Ivan Chorney and Michael Martirena bring over $2 billion in career sales and direct relationships with developers, giving clients priority access, sharper pricing, and information that rarely reaches the open market.
Their approach is consultative, not transactional: they benchmark Five Park against comparable buildings, model projected rental yields and appreciation, and identify the specific residences that fit each client’s lifestyle and investment goals. Their work has been featured in outlets such as The Wall Street Journal, Mansion Global, The Real Deal, and Forbes, reinforcing their status as trusted authorities in Miami’s ultra‑luxury market.
Your Next Chapter Starts Here
Five Park is not merely a building to visit. It is a decision that changes the quality of your daily life, the caliber of your investment portfolio, and the status of your address for decades to come. There are very few moments in any market cycle when a building of this significance, in a location of this scarcity, with this depth of design and amenity, is available to acquire.
This is one of those moments.
Whether you are considering a primary residence, a second home that generates meaningful rental income, or a strategic long-term investment in one of the world’s most supply-constrained luxury markets, Ivan & Mike are uniquely positioned to guide every dimension of that decision.
Contact the Ivan & Mike Team for a private Five Park consultation and discover which residences align with your lifestyle, your investment goals, and your vision of what exceptional living can look like.
About Ivan & Mike
Ivan Chorney and Michael Martirena are the founders of The Ivan & Mike Team at Compass Florida, one of the most distinguished luxury real estate teams in the United States. With more than $2 billion in closed transactions, they are recognized among the Top 10 Medium Teams in the U.S. by RealTrends and #1 in New Construction Sales in Miami.
Ivan & Mike are celebrated for their deep market intelligence, developer partnerships, and discreet, relationship-driven approach. Their clients include UHNWIs, CEOs, athletes, and global investors seeking strategic acquisitions across South Florida.
Their mission is simple:
“We connect extraordinary people with extraordinary properties, delivering not just a transaction—but a lifestyle.”
Their insights have been featured in The Real Deal, Forbes México, Mansion Global, Inman, and The Wall Street Journal, positioning them as architects of Miami’s luxury lifestyle.
📍 Based in Coconut Grove, Miami, FL 📞 (305) 907-7948 📧 ivan.chorney@compass.com** | **mike.martirena@compass.com 🌐 www.ivanandmike.com
What are the current prices for Five Park Miami Beach condos for sale?
Prices generally start around $1,199,000 for Park Residences and can exceed $16,000,000 for prime combined Canopy Club homes. For exact, unit‑specific pricing, connect directly with the Ivan & Mike Team.
Is Five Park Miami Beach a good investment in 2025 and 2026?
Yes. It is the only new luxury tower in South Beach in over a decade, in a submarket that saw roughly 19% sales growth in 2025, with verified rentals from $240,000 to $558,000 per year and luxury pricing now above $1,000 per square foot.
Who developed Five Park Miami Beach and who designed it?
Five Park was developed by Terra Group with GFO Investments. Arquitectonica designed the tower, Gabellini Sheppard handled interiors, Anda Andrei led overall design direction, and Daniel Buren created the signature Canopy Bridge.
What makes Five Park different from other luxury condos in Miami Beach?
It is Miami Beach’s tallest tower at 519 feet with 360‑degree views, a private three‑acre Canopy Park and pedestrian bridge into South of Fifth, plus over 50,000 square feet of resort‑style amenities, from a James Beard Award‑winning chef’s restaurant to a private beach club and children’s learning lab.
How do I get access to off-market Five Park listings or early information on new inventory?
By working with a team embedded in the building. As the most active group in Five Park since pre‑construction, the Ivan & Mike Team often has early visibility on residences coming to market and owners open to discreet, off‑market discussions.
