The Real Deal Miami

Setai South Beach penthouse unit closes for $21.5 million

December 09, 2011 09:22AM

Setai South Beach

A 5,803-square-foot penthouse unit at the Setai South Beach has closed a
$21.5 million sale. The home, which was first purchased by Netscape
founder Jim Clark in 2004 for $9 million, was sold to a private
businessperson. The previous high sale at the Setai was a lower
penthouse that sold for $15 million last year. The deal was brokered by
One Sotheby’s International Realty agent Eloy Carmenate. “Miami is emerging as a super luxury market,” said One Sotheby’s
President Beth Butler. “This marks the fourth sale this year in excess
of $20 million and is a new high for a condo sale.” [South
Beach Real Estate Blog]