The Real Deal Miami

CLOSED! Kevin Durant’s PH at 900 Biscayne sold for $3.15M

Sale is part of four-unit investment

May 08, 2015 05:00PM
By Sean Stewart-Muniz

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Kevin Durant's penthouse at 900 Biscayne

Kevin Durant’s penthouse at 900 Biscayne

Kevin Durant’s penthouse at 900 Biscayne has just closed for $3.15 million — $300,000 below its asking price, The Real Deal has learned.

Michael Light of Miami Luxury Homes, who brought the buyer, told TRD that he went through four rounds of negotiations before closing on the property Friday. Ben Moss of ONE Sotheby’s International Realty represented Durant in the sale.

The 3,800-square-foot residence was gutted and remodeled by Durant shortly before putting it up for sale, and it came furnished, Light said.

It went under contract in April to an unnamed Colombian buyer, who at the time was planning to pick up several South Florida condos as part of a long-term investment.

The buyer also spent roughly $4 million on three side-by-side units at the upcoming Paramount Miami Worldcenter, all of which sit next to each other on the building’s east face directly under the penthouse, Light told TRD.

His client was considering combining those units into a 5,500-square-foot mega condo, though he has three years to decide before Paramount opens, Light said.

All four of the buyer’s units will become rental properties, with Durant’s penthouse going for $22,000 a month, Light said. The buyer plans on keeping the properties for at least five years.

“He believes this is a really safe investment,” Light said.