The Real Deal Miami

Faena House unit to close for $15M

Four-bedroom six-bathroom unit to sell for $3,171 psf

December 01, 2015 04:15PM
By Katherine Kallergis

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Faena House

Renderings of the newly completed Faena House

A unit on the 11th floor of Faena House will close this week for $15 million, a Coldwell Banker spokesperson told The Real Deal

Unit 11A, a 4,730-square-foot residence, will sell for $3,171 per square foot. It includes four bedrooms, six bathrooms and one half-bath, as well as a 1,516-square-foot wraparound balcony. Coldwell Banker’s Jon Corso represented the buyer, who is undisclosed. The sale will close by Friday, according to a spokesperson.

Last week, a company managed by Alex Blavatnik, brother of billionaire Len Blavatnik, spent $11.55 million, or $2,442 per square foot, on a fifth-floor unit at Faena House.

Buyers at the elite Mid-Miami Beach tower include billionaire 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.

In October, a third Faena penthouse closed for $29 million.

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, 18-story tower was designed by Foster + Partners.