The South of Fifth neighborhood in South Beach is what SoHo is to Manhattan. It is a "V" shaped neighborhood bounded by three sides of water and the most expensive condo living, south of New York City, takes place on South Pointe Drive.
South Pointe Drive condo prices range from about $700-$1500 psf. In 2009, the average price of a unit in one of the high-rise condos in SoFi (South of Fifth), was just under $1.7M for 2009.

Nine condos line the shores of SoFi:
2009 Real Estate Reports for Miami Beach Luxury Condos

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