1500 Ocean Drive Condos For Sale & Rent

1500 Ocean Drive Condo Overview

1500 Ocean Drive is a boutique-style condo building at 1500 Ocean Dr in South Beach, Miami Beach. Built in 1998, the 15-story building has 114 residences directly tied to Ocean Drive, the beach, Lummus Park, restaurants, and the Art Deco District.

1500 Ocean Drive Condos for Sale

1500 Ocean Drive condos for sale should be compared by ocean or park exposure, floor height, balcony position, interior condition, parking, and monthly fees. Buyers should look closely at the difference between lifestyle value and the specific view, privacy, and finish level of each unit.

1500 Ocean Drive Rentals and Rental Policy

Rental policy currently shows a long-term rental setup, a 90-day minimum rental term, and up to 2 rentals per year. Buyers should verify association rules, approval timing, fees, city requirements, and current restrictions before planning around rental income.

Amenities and Building Details

1500 Architectural and ownership notes point to Michael Graves, Constructa, Inc. The building is pet-friendly. Buyers should review building services, parking, security, reserves, insurance considerations, and monthly ownership costs alongside the individual unit. Home to 114 exclusive residential units, the building offers a diverse range of living spaces, including one-, two-, and three-bedroom floor plans, alongside sumptuous penthouses. His intricate designs infuse each space with elegance and sophistication, making 1500 Ocean Drive a coveted address in Miami Beach. The heated swimming pool, complete with a poolside lunch menu, offers a perfect escape within the urban oasis. Wellness and relaxation are at the forefront, with a massage therapy room, a state-of-the-art fitness facility offering yoga and pilates classes, and a replenishing spa that includes a sauna and steam rooms.

What to Compare Before Buying at 1500 Ocean Drive

Compare active condos for sale, active rentals, recent sales, view quality, unit condition, monthly fees, parking, rental rules, pet policy, beach access, and Ocean Drive walkability. It is also useful to compare 1500 Ocean Drive Miami Beach with nearby buildings and area pages such as Miami Beach and Il Villaggio.

Market Context

1500 Ocean Drive Miami Beach has completed-year closed-sale history from 2017 through 2025 in the market statistics, with 36 recorded condo sales, or about 4 sales per year. That is a thinner resale sample, so each closed sale should be reviewed closely for condition, view, size, and unusual terms before using it as a benchmark. The busiest year in the series was 2022 with 10 sales, while the quietest was 2017 with 1. Recent completed-year sales volume is below the long-term average. The gap between the busiest and quietest years also shows why buyers should separate building demand from broader market-cycle timing.

The completed-year price-per-square-foot history for 1500 Ocean Drive Miami Beach ranges from about $760/sqft to $1,414/sqft, with an average near $1,104/sqft across the years shown. That range gives buyers room to separate stronger lines and renovated units from more ordinary comparisons. The last completed year in the series is higher than the first, moving from $893/sqft in 2017 to $1,117/sqft in 2025. The recent completed-year price-per-square-foot average is close to the long-term average. Average closed price over the same completed-year period was about $1,835,212, but that number should be read by bedroom count, size, view, and renovation level.

Bedroom-level statistics also help explain value at 1500 Ocean Drive Miami Beach: 2 Beds and 1 Bed units have the broadest historical comparison set, while 4 Beds+ around $9,991,250 and 3 Beds around $2,992,917 represent the higher average closed-price tiers in the chart data. Because the higher-tier segment has limited observations, it should be treated as directional rather than a standalone pricing rule. Buyers should compare units within the same bedroom count before deciding whether a listing is expensive or well positioned. 1500 Ocean Drive Miami Beach also has long-term rental positioning with a 90-day minimum lease and up to 2 rentals per year, which should be read together with the long-term sales data. That points to a more traditional ownership profile, so long-term tenant quality, association approvals, and carrying costs matter more than short-stay turnover.