The Real Deal Miami

Ian Schrager talks $34M penthouse sale: VIDEO

March 12, 2013 02:00PM

Ian Schrager, chairman and CEO of Ian Schrager Company, sees demand in every tier of Miami’s luxury market, following last week’s record $34 million penthouse sale, he told Bloomberg TV.

Last week, Coldwell Banker’s William Pierce sold a combined-unit penthouse at the Residences at the Miami Beach EDITION for $34 million — a preconstruction record for Miami — and Schrager said he isn’t surprised that the buyer is an American, rather than a Latin American.

“There is no shortage of buyers looking for a good product in 24-hour international gateway cities,”  Schrager told Bloomberg. ” There are a lot of buyers in the $10 to $15 million area. I am very surprised by the depth of the market.” [Bloomberg]Christopher Cameron