The Real Deal Miami

Icon South Beach’s Penthouse 2 under contract for over $20 million

By Alexander Britell | June 26, 2012 06:30PM

Icon South Beach Penthouse 2

Icon South Beach’s Penthouse 2 is under contract for more than $20 million, The Real Deal has learned. If the sale goes through near that number, it would be the third-highest price ever paid for a Miami-area condominium. The four-bedroom, 6.5-bathroom Miami Beach property, which has its own rooftop deck and pool, had been listed for $19 million.

Listing broker Dora Puig confirmed that the property is under contract, but could not disclose the price.

The deal comes after two penthouses in the nearby Continuum condo in Miami Beach’s South of Fifth neighborhood netted more than $16 million each in less than two months. (The first, a penthouse at Continuum, sold for a Miami-area-record $25 million. The second, as first reported by The Real Deal, sold for $16.5 million.)

The Continuum properties sold in April and May. Puig is also the listing broker on Penthouse 2 at Continuum, which she said had recently raised its listing price to $39 million from $35 million.

Sources told The Real Deal that the sale was still pending, although the closing had been pushed back.

The owner of the property is Wayne Michael Boich, CEO of Ohio-based mining firm the Boich Group, according to Miami-Dade County property records.

Boich purchased the home in 2007 for $7 million.

The 7,993-square-foot unit has also been listed as “pending sale” on the Multiple Listing Service. It has since been removed from the MLS.

It had been on the market for nearly a year.