The Real Deal Miami

Basketball star Kevin Durant’s former Miami penthouse rented out for $18K — again

Next-most expensive rental sits at $17,500 a month

May 17, 2016 04:30PM
By Sean Stewart-Muniz

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The condo at 900 Biscayne and listing agent Michael Light of Miami Luxury Homes

The condo at 900 Biscayne and listing agent Michael Light of Miami Luxury Homes

It looks like basketball star Kevin Durant had good taste in choosing a Miami penthouse during his time in the city.

The Oklahoma City Thunder player’s former pad at 900 Biscayne was just rented for $18,000 per month, again matching a record it set for downtown area leases 10 months ago.

According to listing agent Michael Light of Miami Luxury Homes, a local businessman signed a year-long lease for the three-bedroom, four-bathroom unit last week. The lessee, whom Light declined to name, plans on staying in the unit for up to three years.

At its $18,000 monthly price tag, unit 6307 is still downtown Miami’s most expensive condo rental, according to MLS data from the 33132 area code. The next-most expensive rental was a tie between another unit at 900 Biscayne, No. 6207, and penthouse 4403 at the 10 Museum Park condominium. Both fetched $17,500.

Originally asking $20,000 per month, Light told The Real Deal that he showed the unit to a lot of interested parties but was repeatedly low-balled.

“I would get these ridiculous offers like $14,000 or $15,000, and each would come up with some ridiculous explanation like the market is going bad,” he said.

Light’s frustration ended when the above-mentioned renter, who was represented by Wilfredo Daniel of Avatar Real Estate Services, came to see the unit and signed a lease within one day after negotiating the price to $18,000.

Kevin Durant first bought the penthouse for $1.83 million in 2011 and then put it up for sale in April 2015. After several months, listing agent Ben Moss of One Sotheby’s International Realty closed the deal at $3.15 million. Light represented the buyer for that deal as well.

The unit is owned by a limited liability company named 900 Biscayne 6307. Corporate records show it’s managed by Mark Meland, a real estate attorney with Meland Russin & Budwick. The true owner is unknown.