Terrace Towers at 3 Island Ave
1 / 30
1 / 30
REHUB Miami
Condos for Sale & for Rent in Venetian Islands
3 Island Ave, Miami Beach, FL 33139
1 / 30
UNITS144
STORIES15
YEAR BUILT1962
Building Amenities
About Terrace Towers at 3 Island Ave
Terrace Towers is a 15-story mid-century cooperative apartment building at 3 Island Avenue on Di Lido Island in the Venetian Islands of Miami Beach, completed in 1962 to designs by legendary Miami Modern architect Morris Lapidus. The CBS concrete-block tower holds 144 studio, one-bedroom, and two-bedroom residences from approximately 544 to 1,381 square feet, set on a bayfront parcel along Biscayne Bay with apartments opening to private balconies framed by Lapidus's signature MiMo language of neo-baroque curves, brise-soleil, decorative panels, and a theatrical lobby. Terrace Towers is operated as a cooperative rather than a condominium, with a sister Lapidus building, Island Terrace, immediately next door at 5 Island Avenue. The Di Lido Island address places Terrace Towers on the historic Venetian Causeway, the chain of man-made islands connecting Miami Beach to Edgewater and Downtown Miami. Belle Isle and Belle Isle Park sit just to the south at the foot of the causeway, with the Standard Spa Miami Beach (on Belle Isle), Sunset Harbour and the Sunset Harbour Yacht Club, Maurice Gibb Memorial Park, Lincoln Road Mall, and South Beach all within a short drive. The Lido Spa, another Lapidus design at 40 Island Avenue, also sits on the same block, anchoring a small but architecturally important Lapidus cluster on Di Lido. Terrace Towers apartments feature large windows, private balconies, and bay, island, causeway, and skyline views, with many homes opened up by current owners and renovated. The cooperative offers a full-service lifestyle with a heated bayfront pool and sundeck, a BBQ and picnic area, a fitness room, a community room, a common laundry, elevator service, a trash chute, and a renovated lobby. Service at Terrace Towers includes a front-desk attendant, concierge support, 24-hour security, and assigned garage parking, with pet-friendly rules for both owners and renters, making the building one of the few attainable entries into the Venetian Islands waterfront market and one of the rare Lapidus-designed cooperatives in Miami Beach.
Available & Pending Condos at Terrace Towers at 3 Island Ave
Sort by:
FOR SALE
21
$849,888
1 BD
1 BA
859 sq ft
Terrace Towers at 3 Island Ave · #PH-G
MLS-reported DOM: 229
FOR SALE
56
$619,000
1 BD
1 BA
790 sq ft
Terrace Towers at 3 Island Ave · #11B
MLS-reported DOM: 80
FOR SALE
43
$550,000
1 BD
1 BA
858 sq ft
Terrace Towers at 3 Island Ave · #14L
MLS-reported DOM: 0
PENDING SALE
19
$495,888
1 BD
1 BA
861 sq ft
Terrace Towers at 3 Island Ave · #06K
MLS Status: Active Under Contract
MLS-reported DOM: 238
FOR SALE
12
$459,888
1 BD
1 BA
858 sq ft
Terrace Towers at 3 Island Ave · #09L
MLS-reported DOM: 83
FOR SALE
35
$350,000
Studio
1 BA
544 sq ft
Terrace Towers at 3 Island Ave · #14A
MLS-reported DOM: 73
Interested in Terrace Towers at 3 Island Ave?
Tell us which residences interest you. We’ll confirm availability, access, and timing.
Data provided by Miami MLS
The Team
Documents
Location
3 Island Ave, Miami Beach, FL 33139
Terrace Towers at 3 Island Ave Floor Plans & Unit Mix
Building Market Overview
Median closed price per square foot — the cleanest apples-to-apples value trend.
Based on closed sales over a trailing 90-day window. Updated daily.
Location
3 Island Ave, Miami Beach, FL 33139
More in Venetian Islands
Frequently Asked Questions About Terrace Towers at 3 Island Ave
How much do condos at Terrace Towers at 3 Island Ave cost?
Condos currently listed for sale at Terrace Towers at 3 Island Ave range from $350K to $850K, per active MLS listings. Price within the building varies with floor, view, line, and condition.
What are rents at Terrace Towers at 3 Island Ave?
Rental units currently listed at Terrace Towers at 3 Island Ave run from $10,500 per month, per active MLS listings. Furnished units and shorter lease terms typically price at the upper end.
How many units are available at Terrace Towers at 3 Island Ave right now?
Terrace Towers at 3 Island Ave currently has 5 condos for sale and 1 rental available on the MLS. Inventory updates daily as listings go active, pending, and closed.
How many units does Terrace Towers at 3 Island Ave have?
Terrace Towers at 3 Island Ave has 144 residences across 15 floors in Venetian Islands.
What have condos at Terrace Towers at 3 Island Ave sold for recently?
14 recorded sales closed at Terrace Towers at 3 Island Ave in the last twelve months, with a median sale price of $642,500 and a median of $720 per square foot. Individual results vary with floor, view, and condition.
What are the HOA fees at Terrace Towers at 3 Island Ave?
Across 3 current listings at Terrace Towers at 3 Island Ave, the median association fee is $1,211 per month, or about $1.49 per square foot per month. Fees scale with unit size, and this figure excludes any special assessment — ask the association for its reserve study and assessment history.
Does Terrace Towers at 3 Island Ave allow short-term rentals?
No — annual leases only. Listing agents report a 13-month minimum lease at Terrace Towers at 3 Island Ave, according to 7 current MLS listings. Rental rules are set by the condominium declaration and can be amended by the board, so verify against the current documents before buying for rental income.
Is Terrace Towers at 3 Island Ave pet-friendly?
4 of 7 current listings at Terrace Towers at 3 Island Ave report the pet policy as "allowed", which reads as pet-friendly. Size, breed, and count limits are common — confirm the current rule with the association before you buy.
When was Terrace Towers at 3 Island Ave built?
Terrace Towers at 3 Island Ave was completed in 1962. Ask the association for its current milestone inspection reports, structural integrity reserve study, and any outstanding assessments. Inspection deadlines depend on the certificate of occupancy and local requirements; the year built alone does not confirm a report's completion or when an inspection is due.