Penn Plaza
Condos for Sale in Miami Beach, FL

Penn Plaza Condo is trading at a median of $237,500 on a small closings sample, with pricing running higher per square foot than the median suggests once unit size is factored in — a market defined more by unit-by-unit variation than by a single consistent price point.

MIAMI REALTORS sales records identify 13 homes in PENN PLAZA Condo that have changed hands since 2013, built between 1925 and 1976 (median 1925), with a median living area of about 580 sq ft and a typical 1-bedroom, 1-bath layout; 100% are condominiums. Source: MIAMI REALTORS closed-sale history compiled by Momentum Research; counts reflect homes with a recorded MLS sale, not every home in the community.

Pre-construction details are compiled from public records, builder announcements and builder listings, and are subject to change without notice; figures are deemed reliable but not guaranteed. Momentum Research figures are our own analysis. This page describes homes, pricing and community attributes, not residents.

Penn Plaza Condo is too small for its own price trend, so here is the market around it.

In ZIP 33139, 950 homes are on the market and 11% are under contract — a slower corner of Miami Beach.

Across Miami-Dade County, 14,507 homes are active and 2,241 pending (13% under contract).

In ZIP 33139 (Miami Beach), 132 homes closed in the last 12 months at a median of $985K ($912/sq ft), with a median 84 days on market. Right now 240 active and 26 pending listings put supply at about 21.8 months — a soft market. See the live ZIP 33139 housing market and the Miami-Dade County market.

ZIP and county figures describe the wider market, not Penn Plaza Condo specifically. Momentum Research analysis of MLS records.

With only 5 closings in the current window, Penn Plaza doesn't offer the kind of deep comp set that larger condo markets do. That cuts both ways: a seller can't lean on a thick recent-sales history to justify a number, and a buyer can't assume the median is a stable benchmark. Each unit here needs to be underwritten largely on its own condition, floor, and layout rather than on a broad market trend.

The median days-on-market of 150 is the clearest signal in the file. That's a slow-moving building relative to what a healthy resale market looks like, and combined with a -17.5% year-over-year price move, it suggests demand has softened from where it was. That doesn't mean the building is unsellable — it means pricing has to be realistic from day one, and buyers willing to be patient through a longer negotiation and closing window are in a stronger position than they might be elsewhere.

In a market this thin on data, the difference between a good outcome and a mediocre one comes down to how carefully each comp is read. We treat every one of the handful of recent Penn Plaza closings as its own case study — unit size, condition, and true days-on-market — rather than leaning on a median that a single sale could move. That level of scrutiny is what pricing and negotiating correctly in a low-volume building requires.