Mario Garnero gets Beach House 8 unit for $14M

Brazilian entrepreneur helps luxury Miami Beach condo sell out in five months

TRD MIAMI /
Jun.June 12, 2014 10:30 AM

The developers of Beach House 8 say the luxury Miami Beach condo project is sold out, with Brazilian entrepreneur Mario Garnero plunking down $14 million for the duplex penthouse.

A spokesperson for Valerio Morabito’s New York-based development firm, which is partnering with Ugo Colombo’s CMC Group on Beach House 8, announced on Wednesday that the 10-story glass building’s eight units were presold within five months of launching sales. Four of the units – including Garnero’s penthouse – sold within a two-week span. Contractor Plaza Construction broke ground on the 3651 Collins Avenue project last week.

Morabito and CMC plan to finish Beach House in August 2015.

“Our buyers were looking for intimate living with a level of privacy and exclusivity only attainable in a boutique building,” Morabito said in a written statement. “Beach House 8 stands out as the only boutique residential building in the area offering luxury living.”

Residences at Beach House were priced from $5.9 million to $14 million and range from 3,783 to 5,200 square feet of interior space. Garnero’s duplex penthouse has more than 6,000 square feet of outdoor living space and a private pool. One Sotheby’s International Realty is handling sales for the project. — Eric Kalis


Related Articles

arrow_forward_ios
Icon unit tops list of most expensive condo sales in Miami-Dade (Google Maps; Icon Brickell)

Condo sales and dollar volume up from last week

Condo sales and dollar volume up from last week
Phil Collins, Orianne Collins, and 5800 North Bay Road (Credit: Tim Chapman/Getty Images, and John Parra/Getty Images)

Phil Collins wants to sell his Miami Beach mansion for $40M, but his ex-wife won’t leave

Phil Collins wants to sell his Miami Beach mansion for $40M, but his ex-wife won’t leave
6493 Allison Road (Credit: Douglas Elliman)

One Thousand Museum developer sells Allison Island home

One Thousand Museum developer sells Allison Island home
Greg Mirmelli with 2120 Bay Avenue (Credit: John Parra/Getty Images)

Miami Beach investor sells waterfront home for $18M, following bidding war

Miami Beach investor sells waterfront home for $18M, following bidding war
Floyd Mayweather & 5501 Pine Tree Drive, Miami Beach (Credit: Google Maps and Jun Sato/Getty Images)

Taking it on the chin: Floyd Mayweather Jr. sells Miami Beach home at a loss

Taking it on the chin: Floyd Mayweather Jr. sells Miami Beach home at a loss
1500 West 21st Street and Todd Glaser (Glaser by Mary Beth Koeth, Todd Michael Glaser)

Todd Glaser buys waterfront Sunset Islands home with plans to list it for $10M

Todd Glaser buys waterfront Sunset Islands home with plans to list it for $10M
A rendering of the monorail

Miami-Dade approves interim contract for monorail to Miami Beach

Miami-Dade approves interim contract for monorail to Miami Beach
Lord Balfour Hotel

Mezz lender forecloses on Ocean Drive hotel in South Beach

Mezz lender forecloses on Ocean Drive hotel in South Beach
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...