The Real Deal Miami

Continuum investor to list unit for $4,260 per square foot

Listing includes a two-story, 600-square-foot loft-style cabana

January 04, 2016 01:35PM
By Katherine Kallergis

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Continuum unit 3501 and cabana

Continuum unit 3501 and cabana

A unit and cabana owned by Continuum investor Stuart Eichner will hit the market for $12.9 million, or $4,257 per square foot. 

Samantha Elenson

Listing agent Samantha Elenson

The 3,030-square-foot unit includes four balconies, three bedrooms and floor-to-ceiling windows, listing agent Samantha Elenson told The Real Deal. Eichner, a private investor in the Continuum, is the brother of developer Ian Bruce Eichner, whose Continuum Company built the $440 million, two-tower condominium.

“They had not seriously considered selling prior, but the husband [Stuart Eichner] is passionate about catamarans and they decided at this time in their lives to build a custom catamaran to sail around the world together,” Elenson, of ONE Sotheby’s International Realty, said. She’s marketing the unit to domestic buyers and foreign nationals, and has received interest from Saudi buyers. If sold at listing price, it would set a record for the South-of-Fifth development.

The listing also includes the poolside two-story, 600-square-foot loft-style cabana – as well as five parking spaces. “You couldn’t buy five prime parking spots even if you wanted to,” Elenson said.

Unit 3501 and cabana 4, at 50 South Pointe Drive, was recently renovated and includes views of the ocean, bay and city. The corner unit was designed by Eichner’s wife, a former set designer and stylist and include details such as custom-made wood cabinets, which were lacquered at a local body shop, Elenson said.

Eichner paid $4.1 million for the condominium, according to Miami-Dade County property records. Elenson said the unit has never been listed before.

The Continuum includes the 317-unit south tower, completed in 2002, and the 213-unit north tower, which was completed in 2008. The north tower, which is where Eichner’s unit is located, also includes 12,000 square feet of commercial space and 12,000 square feet of restaurant space. The development sits on a 12-acre property and features two lagoon pools, a spa and gym, and 1,000 feet of beach frontage.

Last year, Ian Bruce Eichner listed his four-story penthouse at the Continuum for $50 million, or $4,519 per square foot.