The Real Deal Miami

Setai penthouse listed for $13.75M

Asking price is 60 percent above last sale in May 2013
By Ina Cordle | March 16, 2015 01:30PM

setai penhouse and jennifer restrepo

Setai Penthouse B and Jennifer Restrepo

A penthouse at the Setai in South Beach has just hit the market for $13.75 million, The Real Deal has learned.

Jennifer Restrepo, with Luxury Living Realty, has the listing for Setai Penthouse Suite B at 101 20th Street in Miami Beach.

The three-bedroom, three-bathroom unit has 2,521 square feet, which translates to a staggering asking price of $5,454.

According to Miami-Dade property records, the owner is Andrew Rosen, who has an address in New York. He is the owner of Theory, an upscale apparel brand for women and men. Rosen bought the condo for $8.6 million in May 2013.

At the current asking price, that translates to a 60 percent increase in less than two years.

In late December, the Nakash family, founders of the Jordache Jeans empire and owners of the Versace mansion in South Beach, paid nearly $90 million to buy the adjoining Setai Hotel.