Five Park, The New Tallest Tower In Miami Beach, Is Now Complete

Five Park, the first new residential tower South Beach has seen in over a decade, opened its’ doors during the 2024 holiday season. A joint venture between David Martin’s Terra Group and GFO Investments, the development has successfully revamped a once blighted area of the neighborhood while also tying it together with the South of Fifth sub-market.

Standing 519-feet tall, Five Park is the new tallest building in Miami Beach. This is a record once held by the Blue Diamond and Green Diamond at 47th and Collins, measuring 502 feet each.

Five Park Miami Beach Completed Tower

Canopy Park at Five Park Monstrum Playground

Impact On The South Beach Neighborhood

One of my favorite aspects of Five Park is the impact it has had on the section of South Beach around 500 Alton Road and West Avenue.

For decades, visitors were met at the gateway to South Beach by an eyesore that was an old building that had been gutted and abandoned surrounded by some vacant lots that were filled with overgrowth and trash. Not very welcoming. Going forward, the new residential tower is surrounded by a lush Canopy Park, activating the sprawling site with community-oriented amenities that include a MONSTROM playground, an orchid garden, art installations, outdoor gym, event lawn and a new dog park!

ArquitectonicaGEO, the landscape architecture arm of the iconic Miami design firm has also formed a bioswale or “dry river”. This will combat against flooding and keep the park beautiful into the foreseeable future by channeling excess runoff and high tides into a cistern for irrigation.

Five Park Miami Beach Pedestrian Bridge

Connecting South Beach And South Of Fifth Through Art

While most neighborhoods in Miami Beach flow together seamlessly, South of Fifth has traditionally been secluded by the busy intersection of the I-395 MacArthur Causeway and Alton Road.

With the addition of Five Park’s new pedestrian bridge, residents can stroll over the traffic and enjoy the amenities closer to South Pointe. This connects the Beachwalk, Baywalk and the public parks in between along with all of the restaurants.

For the drivers, they are able to enjoy a new permanent art installation at the same time. The Miami Beach Canopy, as it is called, was designed by artist Daniel Buren. His design concept was inspired by “Walking Under, Along and On the Colors”.

Rendering of Five Park Miami Beach Private Restaurant by Michelle Bernstein and Jeffrey Chodorow

Five Park Residences’ Private Amenities

Inside Five Park is just as well-thought-out as the public amenities. In addition to the luxury amenities we have come to expect in a new Miami Beach tower, the 26th floor of Five Park is reserved for an exclusive residents-only club called the “Canopy Club.”

The Canopy Club offers a club lounge, bar, billiards room, a jewel box bar, private dining room and a private restaurant by celebrity chefs Michelle Bernstein and Jeffery Chodorow.

Inside the wellness center, residents will enjoy private training areas, indoor and outdoor workout zones, a yoga deck with juice bar, spinning, as well as an in-house wellness coach and personal trainer. The spa offers lounges with separate saunas, a hammam and dedicated massage/treatment rooms with personalized concierge service.

Additional amenities include a lushly landscaped amenity deck, swimming pools with cabanas and water views from all around, a meditation deck, movie theater, a learning lab for the littles as well as a teen club. In the garage you will find a charging station for electric vehicles. If you prefer to not use your car, the 24-hour concierge and butler services can help you arrange the use of the house car.

At the private beach club on South of Fifth residents can enjoy lounge chairs, umbrellas and towel service. Transportation is provided by an electric Moke vehicle.

Rendering of Five Park Miami Beach Living Area

Inside The Residences

The designs of the residences at Five Park are meant to hone the natural light, making the space and natural materials stand out, creating a serene and thought-out space.

In the kitchens, residents will find Gaggenau appliances, including wine chillers. Italian cabinetry with integrated appliances complements the porcelain flooring and stone countertops. The residences have 10-foot ceilings with floor-to-ceiling impact glass on all outer walls.

Divided into two categories, the Park Residences are on levels 8-25. This is where you will find one- to three-bedroom layouts with a more action-oriented view. On floors 27-48 you will find the larger Canopy Residences. These are larger, with two- to five- bedroom layouts and unobstructed water views from each room.

Rendering of Five Park Miami Beach Downtown View at Sunset

Despite the soaring height, there are only 226 residences in total at Five Park. Some purchase opportunities do remain, with pricing starting at $1.2 million.

If you are interested in a presentation of the project, please contact Michael Light, Broker and Executive Director of Luxury Sales at Douglas Elliman. You may reach Michael directly at (786) 566-1700 or via email at michael@miamiluxuryhomes.com.

Photo Credit: Terra Group and GFO Investments