# The Terrace

As of 2026-09-01, The Terrace in South Beach has 1 units for sale at a median asking price of $599K ($614/sqft); 0 units sold in the last 12 months.

The Terrace is a boutique condominium building in Miami Beach constructed in 2007.

## Key facts

| | |
|---|---|
| Address | 945 Michigan Ave |
| Neighborhood | South Beach |
| Year built | 2007 |
| Floors | 4 |
| Units | 8 |
| Waterfront | no |
| Developer | Waterstone Capital |
| For sale | 1 |
| Pending | 0 |
| Median asking price | $599,000 |
| Median asking $/sqft | $614/sqft |
| Sold, last 12 months | 0 |
| Median HOA | $1,456/mo |
| Parking | The building offers assigned indoor, covered, and secured parking. |

## Own Miami measures

- Special-assessment outlook: watch (next structural milestone inspection due 2032)

## Building health (verified public records)

- Public records checked 2026-10-28: no liens, lawsuits or regulatory complaints found
- Legal & regulatory: 0 material cases active, 0 disputes active, 0 DBPR complaints (36 months)

## Frequently asked questions

**How much do condos at The Terrace cost?**

There are 1 condos for sale at The Terrace, from $599,000, with a median asking price of $599,000 ($614/sqft).

**How much are the HOA fees at The Terrace?**

HOA / maintenance fees at The Terrace run around $1,456 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.

**When was The Terrace built?**

The Terrace was built in 2007, 4 stories, 8 residences.

**Who developed The Terrace?**

The Terrace was developed by Waterstone Capital.

## Related pages

- [South Beach — neighborhood guide](https://own.miami/south-beach)
- [All units for sale at The Terrace](https://own.miami/buildings/the-terrace/for-sale)
- [The Waverly at South Beach](https://own.miami/buildings/the-waverly-at-south-beac)
- [The Meridian](https://own.miami/buildings/the-meridian)
- [2020 Lofts](https://own.miami/buildings/2020-lofts)
- [Bayview Plaza](https://own.miami/buildings/bayview-plaza)

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Source: Own.Miami — https://own.miami · data as of 2026-09-01
Canonical page: https://own.miami/buildings/the-terrace
License: CC BY 4.0 — https://creativecommons.org/licenses/by/4.0/
Methodology: https://own.miami/methodology · For AI assistants: https://own.miami/for-ai