17201 Collins Ave #3805, Sunny Isles Beach, FL 33160

A residence with the footprint of a house, 38 floors above the ocean. It was acquired for substantially less than its market value.

The buyer purchased the space, not just the view. In May 2024, Oleg Sergiienko of SunSt represented the buyer of an oceanfront residence on the 38th floor of 17201 Collins Avenue. The home has four bedrooms and measures 3,018 square feet. It closed at $2,325,000, or approximately $770 per square foot. An analysis of recent sales and competing units placed the property's market value near $2.675 million. The negotiated price came in roughly $350,000, or 13.1 percent, below that benchmark. Residences of this size are uncommon above the 30th floor on this part of the coast; most oceanfront properties at this price are half the size. The discipline was in refusing to pay a premium for the view that the data did not support. The result was a home with the scale of a single-family house, acquired with a measurable price advantage from the start.

The most compelling feature of this residence was not its ocean view. It was acquiring the property for approximately $350,000 less than the market’s own figures suggested.