Faena penthouse under contract for “record” price

Duplex condo was originally listed at $50 million in November 2013

TRD MIAMI /
Apr.April 25, 2014 09:45 AM

The Faena House condo listed for a record $50 million is now under contract.

A Faena Group executive and the broker representing the buyer told the Wall Street Journal a deal was reached for the sale of the duplex penthouse at Faena House. They did not disclose the buyer’s identity or sale price.

The unit was first listed in November 2013 with an asking price never seen before in Miami Beach. Zilbert International Realty broker Jeffrey Miller told the WSJ the penthouse sale would break the market’s pricing record once it closes. The current Miami Beach record is the $27 million sale of a Setai Resort and Residences unit in January 2013.

Faena’s five-bedroom, five-bathroom penthouse totals 8,273 square feet of interior space and about 10,000 square feet of exterior space. The unit includes a 70-foot-long rooftop pool with ocean views.

The condo component of Faena Miami Beach is now sold out, according to Faena Group executive vice president Alicia Goldstein.

Click here to read our profile of Alan Faena from our April 2014 South Florida Market Report. [WSJ]Eric Kalis


Related Articles

arrow_forward_ios
Z Ocean Hotel

Developers misrepresented Z Ocean Hotel’s dire finances: judge

Franco Bianchi and Eighty Seven Park  

Furniture exec moves into condo at Eighty Seven Park for $7M

4424 North Bay Road, and from right: Neil and Jennifer Sazant, Lindsay McMinn and Karen Stauber (Credit: Getty Images)

Waterfront lot on North Bay Road sells for $7M

Michael Comras and 1500 Washington Avenue (Credit: Google Maps)

Comras looks to sell Five Guys property on Washington Ave

Jeffrey Dagowitz, Ophir Sternberg and 100 21st Street (Credit: Getty Images, Google Maps)

Lionheart and Jeffrey Dagowitz sell Seagull Hotel Miami Beach for $120M

Multiplan launches sales of boutique luxury condo project on Ocean Drive

Multiplan launches sales of boutique luxury condo project on Ocean Drive

Continuum South Beach unit 606 and Dan Buettner (Credit: Douglas Elliman)

Is it the water? Longevity expert buys Continuum South Beach condo

Moshe Popack and his Flamingo Drive home

Private equity firm exec sells Miami Beach mansion to Moshe Popack

arrow_forward_ios
Loading...