The Real Deal Miami

Canyon Ranch Miami Beach sells out eight penthouses — in two hours

August 16, 2012 09:45AM

Canyon Ranch

Miami Beach’s Canyon Ranch Living released eight penthouse units for sale this month — and they sold within two hours, according to Michael Sadov, real estate sales director at the project. “Buyers were asking about the residences even before we offered them,” he said. The buyers paid an average price exceeding $1,000 per square foot. The quick sale was a result of a preexisting waiting list, Sadov said. “When we formally notified them, they quickly signed contracts.” The sales totaled $7 million. — Alexander Britell