This wasn't some cheap building in a poor neighborhood either, it was sheer neglect of an otherwise expensive beach-front property.
The listings I've found range from $400K up to $3M. Example:
https://www.miamirealestatetrends.co...10943507.html/
Looking at real estate listings, the building (although dated) looks more than decent (scroll to pictures at bottom)
https://www.miamiresidence.com/surfs...ain-towers.htm