The Real Deal Miami

Penthouse at Faena House sells for $29M

Billionaire Ken Griffin paid $60M for two penthouse units earlier this fall

October 27, 2015 10:30AM
By Katherine Kallergis

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Renderings of Faena House

Renderings of Faena House

A second penthouse unit has sold at the exclusive Faena House tower in Miami Beach.

Pomes Miami Beach Inc. paid $29.17 million for unit PH-A, according to a deed filed in Miami-Dade records on Monday. More information on the company is not available in state or county records.

Faena 10B LLC also closed on a unit in the 18-story tower this week. The LLC paid $10 million for the 5,466-square-foot unit, which includes at least four bedrooms and five bathrooms. Records link the buyer to Herman Kay Company, a New York-based apparel manufacturer. A third-generation, family-owned business, the firm holds the license to manufacture and market coats and outerwear for such brands as BCBG, DVF, London Fog, Michael Kors and Anne Klein. It sells the apparel to most large retailers, including Macy’s, JCPenney, Nordstrom, Lord & Taylor and Dillard’s.

A number of individuals in the financial world are also buying at the exclusive Mid-Miami Beach condominium, including: Ken Griffin, who paid $60 million for two penthouse units; British billionaire Alan Howard, who paid $14.5 million for unit 4A; and Goldman Sachs Chairman and CEO Lloyd Blankfein, who paid $9.5 million for unit 8A. Griffin’s purchase blew past Miami’s record price for a condo unit, which was set by a $27.5 million unit in Miami Beach’s Continuum in December. It even beat the record price for a single-family home that previously belonged to the $47 million home at 3 Indian Creek Island Road.

Faena House marks the first of four planned oceanfront condo towers in the ultra-luxury project, which stretches from 3200 to 3500 Collins Avenue. The 42-unit tower was designed by Foster + Partners and includes amenities such as a gym, spa, pools, underground garage and a beach club.