The Real Deal Miami

First PH at Faena Hotel sells to New Yorkers for $5.5M

Unit is one of 13 fully furnished penthouses on the hotel's upper two floors

June 28, 2016 04:30PM
By Ina Cordle

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Faena Hotel’s gilded mammoth outside, near the beachfront

The first penthouse at the new Faena Hotel in Mid-Miami Beach just sold to New Yorkers for $5.5 million.

Records show unit 1304 sold to My Family Valentina LLC, an entity linked to Angelo Gordon & Co., a privately held New York investment advisor. Judith Angelo is the manager of the entity.

The unit is one of 13 fully furnished penthouses on the upper two floors of the luxe hotel at 3201 Collins Avenue, which opened in late December. No other sales of units have yet been recorded.

Four other penthouses hit the market during the past week, with prices from $2.575 million for PH7 to $10.8 million for UPH3, according to the listings on Also for sale: PH3 for $2.99 million and UPH2 for $7.2 million.

The penthouses are joined by 169 rooms at suites at Faena Hotel, developed by partners Alan Faena and Len Blavatnik.

Faena Hotel 3201 Collins Avenue

Faena Hotel

Inside the hotel, the walls of the lobby are decorated with colorful murals and the floors are inlaid with an intricate mosaic pattern. Outdoors, a huge, gilded mammoth greets visitors at the entrance to the oceanfront pool and beach.

The penthouses and rooms are all decorated with hardwood floors, red velvet and turquoise furniture and blue tiled bathrooms.

The hotel is part of the Faena District, which runs on both sides of Collins Avenue, from 32nd Street to 35th Street in Mid-Miami Beach. Other components include the Faena House condominium tower; Faena Forum, an arts complex; two Faena Versailles condominium towers; Faena Bazaar, a retail building; and a parking garage, much of which is yet to be completed.


Alan Faena

For Faena Hotel, Faena and Blavatnik completely gutted and renovated the former Saxony Hotel, originally built in 1947 by George Sax and designed by Roy F. France. Faena hired film director and producer Baz Luhrmann and costume designer Catherine Martin to help create an old-world ambiance with Art Deco decor, designed to recall the property’s former glamour of the 1950s.

“This was really an incredible joy for the past three or four years,” Faena said in December during a tour, recalling how Blavatnik invited him to Miami to see the Saxony Hotel and told him “See what you can do.”