Art dealer Larry Gagosian spends $13M on Faena House pad in Miami Beach

Gagosian Gallery boss picks up four-bedroom penthouse

New York /
Mar.March 15, 2016 05:30 PM

From the South Florida website: Noted art dealer Laurence Gagosian paid nearly $13 million for a penthouse at Faena House in Miami Beach.

Miami-Dade County records show Gagosian purchased unit PH-C at the 18-story building. The Armenian American art collector owns the Gagosian Gallery art galleries in the United States, as well as London, Paris, Rome, Athens, Geneva and Hong Kong.

Gagosian’s new penthouse has four bedrooms, six bathrooms and one half-bath, according to the property appraiser. The unit spans 4,730 interior square feet, which means Gagosian paid about $2,747 per square foot. It also includes a 1,516-square-foot terrace, according to a Faena spokesperson.

The 42-unit tower has attracted ultra wealthy buyers and Wall Street executives, including billionaire Ken Griffin, Goldman Sachs Chairman and CEO Lloyd Blankfein, hedge funder Craig Effron, Jose Fanjul Jr., Chuck Khubani, Alex Blavatnik and Mark Rachesky. Faena House, at 3315 Collins Avenue, is the first of four planned oceanfront condo towers for developer Alan Faena. It was designed by Foster + Partners.

Griffin paid a record $60 million for two penthouse units last year, but then put them both back on the market in January for a combined $73 million. Griffin never combined the duplex unit, which is also listed separately: $55 million for the upper floor unit and $18 million for the lower one.

Correction: An earlier version of this story incorrectly identified the square footage as 4,374. Unit PH-C has 4,730 square feet of interior space.


Related Articles

arrow_forward_ios
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
 Fredrik Eklund and the property (Getty, Steve Frankel)
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Gordon Ramsey and his Lucky Cat restaurant (Lucky Cat)
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Gordon Ramsay to open first South Florida restaurant in Miami Beach
781 Fifth Avenue and Howard Lorber
Full 17th floor at Sherry-Netherland asks $30 million
Full 17th floor at Sherry-Netherland asks $30 million
Governor Kathy Hochul, casino chips, film camera
How Hochul’s film tax credit, casino plan affect real estate
How Hochul’s film tax credit, casino plan affect real estate
Council member Pierina Sanchez and Public Advocate Jumaane Williams (Photo Illustration by Steven Dilakian for The Real Deal with Getty, New York City Council)
Bill targets co-op discrimination against buyers
Bill targets co-op discrimination against buyers
Kohler Interiors' Rachel Kohler with  21-05 51st Avenue (Loopnet, Getty)
Tile retailer Ann Sacks inks 21K sf lease in Long Island City
Tile retailer Ann Sacks inks 21K sf lease in Long Island City
A photo illustration of The Agency’s Rainy Austin and Mauricio Umansky (Getty, The Agency)
Layoffs hit The Agency
Layoffs hit The Agency
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...