Developer Don Peebles is setting out to establish a new pricing peak for the Miami luxury condo market with his Bath Club Estates project.
Peebles is asking $50 million for a 9,200 square foot triplex penthouse, which has another 9,000 square feet of outdoor space, at the Miami Beach development. The five-bedroom unit is the second in the city to be listed at $50 million. A duplex penthouse at Faena House was listed for the same amount in November 2013 and is under contract now for an undisclosed price.
The buyer of the Bath Club penthouse would have the ability to work with the developer to customize the unit’s layout, Douglas Elliman Real Estate broker Chris Leavitt told the Wall Street Journal. Leavitt and the firm’s Oren Alexander are the listing agents.
Unit features include a wraparound terrace with views of the ocean, downtown Miami and Biscayne Bay, an elevator, home theater and private rooftop terrace with an infinity-edge pool.
“There’s a very high demand for these types of properties,” Leavitt said. [WSJ] — Eric Kalis