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Stuart Eichner sells Continuum unit for nearly 30% off original ask

Unit hit the market in 2016 for $12.9M or $4,300 psf

Unit 3501 at the Continuum
Unit 3501 at the Continuum

Continuum investor Stuart Eichner just sold his Continuum South Beach unit for $9.3 million, a 28 percent discount off the original ask.

Eichner, who invested in the Continuum project, is the brother of developer Ian Bruce Eichner, whose Continuum Company built the $440 million, two-tower condominium in 2002 and 2008.

He sold unit 3501 at 50 South Pointe Drive to Miami Sun Holdings V LLC. State records show John Marshall of Miami Beach controls the LLC.

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Samantha Elenson of One Sotheby’s International Realty represented Eichner and his wife. Douglas Elliman’s Eloy Carmenate and Mick Duchon brought the buyer.

The Eichners first listed the three-bedroom, 3,000-square-foot unit condo in 2016 for $12.9 million, or $4,300 per square foot, the took it off the market for a few months and relisted it the following year for $11.5 million, or $3,800 per square foot. It just sold for about $3,070 a foot.

The deal included a poolside two-story, 600-square-foot loft-style cabana, and five parking spaces. Property records show Eichner paid $4.1 million for unit 3501 and cabana 4 at 50 South Pointe Drive.

In 2015, his brother, Ian Bruce Eichner, listed his four-story penthouse at the Continuum for $50 million, or $4,519 per square foot. It is no longer on the market.

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