The Real Deal Miami

Sunset Harbour penthouse sale sets neighborhood record at $7.5M

Tower suite includes five bedrooms, a rooftop deck, 4,000 sf terrace

July 05, 2016 10:30AM
By Katherine Kallergis

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The Italian buyer of a penthouse at Sunset Harbour South just set a record for the neighborhood.

Unit TS2/3 at 1800 Sunset Harbour Drive sold for $7.5 million, listing agents Oren Alexander and Lauren Fitzpatrick told The Real Deal. The sale closed on Thursday. The buyer’s agent was Martina Borgomanero of Miami Blue Real Estate.

Alexander, who declined to name the buyer, said he will use the unit as a secondary home, “possibly a primary home depending on the situation in Europe.”

“I think we are going to start to see this more, Europeans moving down to Miami,” Alexander told TRD.

Alexander and Fitzpatrick, of Douglas Elliman’s the Alexander Team, said the buyer found the listing on the group’s Instagram account. It was on the market for $7.7 million.

The 7,500-square-foot tower suite includes two master suites, a total of five bedrooms, a rooftop deck, 4,000 square feet of terrace space and water and city views of Miami Beach. “The unit was renovated but the buyer is definitely going to be doing work to it,” he told TRD.

The same unit holds the previous record sale for the neighborhood, when it traded for $3.1 million in 2013, Fitzpatrick said. The seller is TS2 Sunset LLC, a company led by Claudio Bagliani and Marco Magli, Florida records show.

The area’s walkability was a big factor for the new owner, the agents said. It’s near the Sunset Harbour Shops, which includes restaurants, retail and grocery stores, as well as the site of Deco Capital Group’s mixed-use project, Sunset Harbor Residences. And Palau at Sunset Harbour, with prices ranging from about $500,000 to $2 million, is nearly completed.

“We understand the neighborhood, we live the neighborhood. That’s really why the buyer purchased there,” Alexander said. “It’s more about the lifestyle that goes with living in Sunset Harbour.”