The Real Deal Miami

Setai condo sells for $7.2 million, almost $3,000 per square foot

June 07, 2012 01:30PM

The Setai South Beach (TRD photo)

A 2,521-square-foot condominium at the Setai South Beach has sold for $7.2 million, according to Esslinger Wooten Maxwell. The sale worked out to an average price of $2,856 per square foot, one of the highest average prices yet for a Setai unit. Last year, the Setai saw one of the largest condo sales in Miami of all time, when a penthouse unit sold for $21.5 million. “Sales in the Setai have been outstanding — a reflection of what’s happening across South Florida in terms of high-end residential real estate transactions,” said EWM’s Lourdes Gutierrez, who represented the buyer in the deal. EWM is the exclusive affiliate of Christie’s International Real Estate in Miami-Dade and Broward counties. — Alexander Britell