Miami Art Week 2026Upcoming
3 exhibitions within 1 mile
Art Week Score 42 · #137 in South Beach
#137 in South Beach · #232 in Miami
Nearest: What Water Remembers, 0.7 mi away
For sale
6
0 pending · 18.0 mo supply
Median asking
$459K
from $400K
Median $/sqft
$483/sqft
$515/sqft sold, 12 mo
Days on market
97
66 to sell · 4 in 12 mo
4 of 6 are priced $450K+ and browsable on own.miami; the stats above cover every unit for sale.
Island Terrace is a waterfront building located on Belle Isle, positioned across from the Standard Hotel & Spa and near Sunset Harbour. The building was designed by Morris Lapidus and offers a boutique atmosphere with a focus on bayfront living.
The property features a bayfront pool, a state-of-the-art gym, a kayak launch, and a 24-hour front desk. It is situated in a location that provides proximity to the Venetian Islands and various local dining and shopping options.
Live near more of Miami
What surrounds Island Terrace: seasonal events, annual programs and lifestyle indexes, measured from the building.
Publix IndexLive now
60 / 100
Nearest Publix: Publix at Publix On The Bay, 0.5 mi
#70 in South Beach · #270 in Miami
A short stroll, and Miami strolls are a commitment.
2 Publix stores nearby
Distances are straight-line, not walking or driving.
Getting around
South Beach is a walkable urban neighborhood. Transit, parks, dining and landmarks within reach:
Ocean DriveLincoln RoadSouth Pointe ParkMiami Beach BoardwalkEspañola Way
56
/ 100
B
own.miami Score
A data-grounded score for Island Terrace from live market data — value, momentum, liquidity, building health, waterfront and age. Computed, not opinion.
Value60
$483/sqft — vs. South Beach condos, then all of Miami
Momentum16
-11.9% $/sqft over 6 months
Liquidity30
18.0 months of supply · 97 days on market
Health100
Public records checked — no liens, lawsuits or complaints on file
Waterfront90
Waterfront building
Age14
Built 1967 — vs. South Beach buildings
own.miami Condo Index
79Value100 = the median Miami condo building's price per sq ft; 200 = twice it.
Rank
#527 of 698 tracked Miami condos
Top 76% by price per sq ft
#114 of 121 in South Beach
Momentum
↓ Cooling
$483/sqft median ask
Liquidity
Balanced
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Inventory
$950,000$728/sqft
2 bd · 2 ba · 1,305 sqft
5 Island Ave #3C
Listing courtesy of Compass Florida, LLC, Luis Felipe Vieira De Souza (Lic. #3018695) · MLS #A12094547
$925,000$710/sqft
2 bd · 2 ba · 1,302 sqft
5 Island Ave #8H
Listing courtesy of Trust Group Realty LLC, Deanna Jurgens (Lic. #3085219) · MLS #A12048077
$458,000$482/sqft
1 bd · 1.5 ba · 950 sqft
5 Island Ave #2F
Listing courtesy of Douglas Elliman, Barbara Estela (Lic. #3162169) · MLS #A12025234
$459,000$483/sqft
1 bd · 1.5 ba · 950 sqft
5 Island Ave #LE
Listing courtesy of Brown Harris Stevens, Lance Butnick (Lic. #3326480) · [email protected] · MLS #A12006110
Sold $/sqft trend
3-month rolling median of closed sales in Island Terrace; bars are closings per month.
Location
Nearby buildings within half a mile.
Building facts
- Address
- 5 Island Ave
- Year built
- 1967
- Floors
- 16
- Residences
- 138
- Developer
- Umet Trust Suite 500
- Waterfront
- Yes
Amenities
- · 24-hour front desk
- · Bayfront pool
- · Kayak launch
- · Bike and additional storage
- · Gym
- · Concierge
Building rules
- Parking
- Assigned parking and covered parking in a garage.
Special assessments & recertification outlook
ElevatedPublic records checked Oct 30, 2026: no liens, lawsuits or regulatory complaints found for the association.
- Built 1967 — past its first structural milestone; next inspection around 2032
Estimated from Island Terrace’s age and signals in active listings — not an official inspection or reserve report. Always verify the building’s milestone-inspection status and reserves with the association before buying.
Financeability
What the banks say about Island Terrace: recorded purchase mortgages, the down payments they accepted, and the programmes in use.
- Mortgages recorded, 12 months
- 2
- 1 from banks and credit unions · purchases and refinances
- Sales bank-financed
- 25%
- 4 recorded sales, 12 months · Resales only
- Average down payment
- —
- Lowest down payment accepted
- —
Loan programmes, 24 months:Conventional 1Private lenders 1
Low confidence — few loans · As of 2026-10-31
Source: Miami-Dade County official records and the FHA/VA approval lists. Aggregates only; individual instruments are never shown. Compare with South Beach
Flooding and storm surge
Public flood data at this building’s location, read Oct 22, 2026.
- FEMA flood zone
- Zone AE: high-risk area. FEMA maps a 1% yearly chance of flooding here.
- Base flood elevation on the map: 9.0 ft.
- Hurricane evacuation zone
- Zone B
- Miami-Dade storm surge planning zones run from A (called first) to E. The county decides which zones evacuate in a storm.
- Ground at the building
- 1.5 ft
- Lowest nearby street
- 1.8 ft
- Highest predicted tide, 2026
- 1.0 ft
Elevations in feet above the NAVD88 datum.
The lowest street next to this building sits 0.8 ft above this year’s highest predicted tide (Oct 27, 2026). Tides that run higher than predicted can reach streets this low.
Estimated from public data, not a flood determination. Check the FEMA flood map and an elevation certificate for this building.
Legal & Regulatory
No material litigation foundCivil court cases involving the condominium association, classified by what they are about. Routine collections against individual owners are counted separately and do not affect the building’s standing.
- Active material lawsuits
- 0
- Owner / association disputes
- 0
- Routine collection cases
- 0
- DBPR complaints
- 1
- Open DBPR complaints
- 0
No civil cases involving the association were found on the Miami-Dade docket in the last five years.
DBPR registration PR1V009170 · Approved,Recorded. Public complaints on record with the Florida Division of Condominiums; investigations are confidential and not counted.
Court records are matched to the association by name and summarized by us; a case is a claim, not a finding. Ask the association for its litigation disclosure before buying.
Frequently asked
How much do condos at Island Terrace cost?+
There are 6 condos for sale at Island Terrace, from $400,000, with a median asking price of $458,500 ($483/sqft).
How much are the HOA fees at Island Terrace?+
HOA / maintenance fees at Island Terrace run around $1,491 per month among units currently for sale; the exact fee varies by unit size and line, so confirm the current amount with the listing or the condo association.
Is Island Terrace a waterfront building?+
Yes — Island Terrace is a waterfront building (South Beach).
When was Island Terrace built?+
Island Terrace was built in 1967, 16 stories, 138 residences.
Who developed Island Terrace?+
Island Terrace was developed by Umet Trust Suite 500.
Stay ahead
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If you like Island Terrace, compare
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