1930 Bay Drive · Cosabella on the Bay · Miami Beach
Penthouse
One
Where sky meets water · An extraordinary life awaits
The Residence
Above it all.
Entirely yours.
Perched at the crown of Cosabella on the Bay, Penthouse One is a statement of absolute refinement. With sweeping panoramas of Biscayne Bay and the Miami skyline, this residence transcends the ordinary — a private world suspended between sky and water at 1930 Bay Drive, Miami Beach.
Grand entertaining spaces flow seamlessly to wraparound terraces where the horizon becomes your backdrop. Interior volumes are designed with an architect's restraint and an artist's sensibility — light, proportion, and materiality in perfect balance.
This is not merely a home. It is a legacy acquisition, offered with exceptional financial terms including an assumable mortgage and a rare cost segregation study delivering immediate, substantial tax advantages to the discerning investor.
- Panoramic Bay Views
- Private Wraparound Terrace
- Chef's Kitchen
- Floor-to-Ceiling Glass
- Private Elevator Entry
- Smart Home Integration
- Designer Finishes
- Premium Parking
Investment Structure
Compelling financial terms
for the astute buyer.
Understanding the Cost Segregation Advantage
Cost segregation is a tax strategy that allows real estate investors to accelerate depreciation deductions by reclassifying property components from 27.5-year (residential) or 39-year (commercial) schedules into 5, 7, or 15-year schedules. For Penthouse One, a study has identified $1,200,000 in eligible components — meaning significant tax deductions are available to the purchaser in the near term. Consult your CPA for your specific tax situation.
The Homestead Advantage — Property Tax Abolishment
Florida offers one of the most powerful property tax benefits in the nation: the Homestead Exemption. After maximizing rental income and cost segregation benefits, a buyer who converts Penthouse One into their primary residence may be eligible to effectively eliminate a significant portion of property taxes — and lock in their assessed value permanently.
Off Assessed Value
Value Increase (Save Our Homes)
Florida Residents
The Three-Phase Strategy: Phase 1 — Rental Income: Lease Penthouse One at premium bay-front rates, generating substantial cash flow while the property appreciates. Phase 2 — Cost Segregation: Apply the $1.2M accelerated depreciation to shelter rental income and other passive income from federal taxes. Phase 3 — Convert to Primary Residence: Establish Florida homestead status to secure the $50,000 exemption, activate the Save Our Homes 3% assessment cap, and benefit from Florida's zero state income tax — effectively abolishing a meaningful portion of your annual property tax burden for as long as you own the property.
* Homestead eligibility, exemption amounts, and tax treatment are subject to Florida law and individual circumstances. Consult a qualified Florida real estate attorney and CPA. Information provided for illustrative purposes only.
The Cosabella Experience
Every detail,
considered.
Private Showings Available
Seize this
singular opportunity.
Penthouse One at Cosabella on the Bay is offered exclusively.
Schedule your private showing to experience this incomparable residence.
COSABELLA ON THE BAY · 1930 BAY DRIVE · MIAMI BEACH, FLORIDA
1930 Bay Drive · Cosabella on the Bay · Miami Beach
Penthouse
One
Where sky meets water · An extraordinary life awaits
The Residence
Above it all.
Entirely yours.
Perched at the crown of Cosabella on the Bay, Penthouse One is a statement of absolute refinement. With sweeping panoramas of Biscayne Bay and the Miami skyline, this residence transcends the ordinary — a private world suspended between sky and water at 1930 Bay Drive, Miami Beach.
Grand entertaining spaces flow seamlessly to wraparound terraces where the horizon becomes your backdrop. Interior volumes are designed with an architect's restraint and an artist's sensibility — light, proportion, and materiality in perfect balance.
This is not merely a home. It is a legacy acquisition, offered with exceptional financial terms including an assumable mortgage and a rare cost segregation study delivering immediate, substantial tax advantages to the discerning investor.
- Panoramic Bay Views
- Private Wraparound Terrace
- Chef's Kitchen
- Floor-to-Ceiling Glass
- Private Elevator Entry
- Smart Home Integration
- Designer Finishes
- Premium Parking
Investment Structure
Compelling financial terms
for the astute buyer.
Understanding the Cost Segregation Advantage
Cost segregation is a tax strategy that allows real estate investors to accelerate depreciation deductions by reclassifying property components from 27.5-year (residential) or 39-year (commercial) schedules into 5, 7, or 15-year schedules. For Penthouse One, a study has identified $1,200,000 in eligible components — meaning significant tax deductions are available to the purchaser in the near term. Consult your CPA for your specific tax situation.
The Homestead Advantage — Property Tax Abolishment
Florida offers one of the most powerful property tax benefits in the nation: the Homestead Exemption. After maximizing rental income and cost segregation benefits, a buyer who converts Penthouse One into their primary residence may be eligible to effectively eliminate a significant portion of property taxes — and lock in their assessed value permanently.
Off Assessed Value
Value Increase (Save Our Homes)
Florida Residents
The Three-Phase Strategy: Phase 1 — Rental Income: Lease Penthouse One at premium bay-front rates, generating substantial cash flow while the property appreciates. Phase 2 — Cost Segregation: Apply the $1.2M accelerated depreciation to shelter rental income and other passive income from federal taxes. Phase 3 — Convert to Primary Residence: Establish Florida homestead status to secure the $50,000 exemption, activate the Save Our Homes 3% assessment cap, and benefit from Florida's zero state income tax — effectively abolishing a meaningful portion of your annual property tax burden for as long as you own the property.
* Homestead eligibility, exemption amounts, and tax treatment are subject to Florida law and individual circumstances. Consult a qualified Florida real estate attorney and CPA. Information provided for illustrative purposes only.
The Cosabella Experience
Every detail,
considered.
Private Showings Available
Seize this
singular opportunity.
Penthouse One at Cosabella on the Bay is offered exclusively.
Schedule your private showing to experience this incomparable residence.
COSABELLA ON THE BAY · 1930 BAY DRIVE · MIAMI BEACH, FLORIDA