Key Biscayne condo gains 48% in value in $11M deal

A condo in Oceana Key Biscayne sold for $11 million.

Oceana Key Biscayne Corp., managed by Morella Rincon, sold units LPH4N and LPH6N in the condo at 350 Ocean Drive to Hoceana LLC, managed by POA Management, which is based in Tortola, British Virgin Islands. The condo totals 3,969 square feet with two bedrooms and three bathrooms. 

The price equated to $2,771 per square foot.

The condo was purchased brand new for $7.45 million in 2014, so it gained 48 percent in value in three years.

Key Biscayne…