The Alexander is the investor's tower on Millionaire's Row — a 17-story, roughly 230-residence condominium at 5225 Collins Avenue, built in 1962, known for one of the most flexible rental policies on this stretch of Mid-Beach. Where neighboring buildings restrict leases to 90 days or longer, The Alexander has historically welcomed shorter stays, making it a magnet for buyers who want genuine rental income from a beachfront address. With ocean and Intracoastal views, a heated pool, fitness center, boat dock access, and a pet-friendly stance, it pairs old-Florida condo bones with unusually landlord-friendly rules.
The Alexander Frequently Asked Questions
❯ How flexible is the rental policy, really?
This is The Alexander's calling card: listings and building profiles indicate short-term rentals are permitted here, a rarity on Millionaire's Row where most towers require 30- to 90-day minimums. That flexibility is exactly why investors target the building — but always confirm the current rental rules with the association before buying, since policies are set by owner vote and can change.
❯ Are pets allowed?
Yes — the building is listed as pet-friendly, with dogs permitted, which sets it apart from no-pet towers nearby like Triton Tower. Verify current weight and breed restrictions with management, but pet owners get a beachfront Mid-Beach option here that many neighboring buildings simply don't offer.
❯ What unit sizes are available?
The mix runs from one to four bedrooms, roughly 730 to over 7,000 square feet at the penthouse level — a wider spread than most 1960s-era neighbors. Many two-bedroom units sit around 960 square feet, a classic layout that rents well both seasonally and annually. Larger combined units and penthouses trade at a premium for their wraparound terraces.
❯ What amenities does the building offer?
Residents get a heated swimming pool, fitness center, sauna and spa, cabanas, a boat dock, and 24-hour security with an attended lobby. It's a classic full-service 1960s package — generous on resort basics, lighter on the spa-and-coworking extras newer towers advertise. Valet and assigned parking are available.
❯ Which views do the residences capture?
As a waterfront tower, stacks face the Atlantic, the Intracoastal, or both, with higher floors adding Miami skyline depth. East-facing units get direct sunrise-over-the-ocean views; west-facing units trade that for Intracoastal sunsets. Balconies are common, and the building's position keeps the beach an easy walk.
❯ Is it a good investment compared with neighboring towers?
For income-focused buyers eyeing The Alexander, yes — the flexible rental policy is the edge. Purchase prices per square foot run below newer luxury product on the row, while nightly and short-term demand in Mid-Beach stays strong year-round. Underwrite conservatively: factor HOA fees, which run about $1 per square foot monthly, and confirm rental rules in writing before closing.
Key Facts
- Building: The Alexander
- Address: 5225 Collins Avenue, Miami Beach, FL 33140
- Neighborhood: Mid-Beach (Millionaire's Row), waterfront
- Stories: 17
- Residences: Approximately 230–260, 1–4 bedrooms
- Completed: 1962
- Rental policy: Flexible — short-term rentals permitted
- Pet policy: Pet-friendly
A Flexible Rental Policy
Most Millionaire's Row towers were written for full-time residents; The Alexander was not. Its permissive leasing stance makes it one of the few beachfront buildings where an owner can realistically run a short-term rental program. That single trait reshapes the buyer pool — expect more investors, more furnished units, and more turnover than at stricter neighbors — and it supports resale values because the income story is always part of the pitch.
Mid-Beach Living
At 52nd and Collins you're centered on the row: South Beach's dining and nightlife a short drive south, Bal Harbour's shopping north. The Alexander's location suits buyers who want the beach as a daily habit rather than a weekend trip. Stack it against Miami Beach's most expensive neighborhoods for price context, tour South Beach for contrast, and browse the wider Miami Beach market to compare rental policies building by building.
Explore our comprehensive list of New and Pre-Construction, A Class Office Space, and Most Expensive Neighborhoods.
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