Penthouse at the Miami Beach EDITION listed for sale

Miami /
Apr.April 14, 2015 09:45 AM

A two-story penthouse at the EDITION Residences is on the market roughly two months after its preconstruction buyer closed on the unit.

Penthouse 1405, a 2,268-square-foot residence, sold in February for $6 million to a company tied to investment firm Fairholme Capital Management, headed by Bruce Berkowitz.

Listing agent Toni Schrager of Avatar Real Estate Services told The Real Deal that the unit was under contract in January 2013. After the buyer closed, he realized he would be spending all of his time in New York, so he put it back on the market, she said.

Now, the unit is listed for $7.8 million.

The penthouse has bleached teak-wood floors, floor-to-ceiling glass windows and a rooftop terrace.

Toni Schrager is the sister-in-law of Ian Schrager, hotelier and development partner of the Miami Beach EDITION hotel and condo project.

The unit is one of 25 luxury condos adjacent to the 293-room hotel. A wide variety of high-powered individuals have bought condos at the EDITION, ranging from investment groups to executives and Bollywood actress Poonam Khubani.

Located at 2901 Collins Avenue, the hotel was built at the site of the former Seville Beach Hotel and opened in late 2014. Marriott International partnered with Schrager to develop the project, and later sold the hotel for $230 million in cash to the Abu Dhabi Investment Authority.


Related Articles

arrow_forward_ios
Inset: Jay Philip Parker, Alicia Cervera Lamadrid, Edgardo Defortuna
Real estate developers, brokers court Art Basel Miami Beach attendees
Real estate developers, brokers court Art Basel Miami Beach attendees
South Florida by the numbers: Winter sports heat up market
South Florida by the numbers: Winter sports heat up market
South Florida by the numbers: Winter sports heat up market
Michael Huffington and the condo building (Getty, Eighty Seven Park)
Michael Huffington sells Eighty Seven Park condo for $11M a year after purchase
Michael Huffington sells Eighty Seven Park condo for $11M a year after purchase
Vineyard owner sells Venetian Islands home to investment firm founder for $15M
Vineyard owner sells Venetian Islands home to investment firm founder for $15M
Vineyard owner sells Venetian Islands home to investment firm founder for $15M
Corcoran’s Julian Johnston, Luxe Living Realty’s Dora Puig, One Sotheby’s’ Jeff Miller, Douglas Elliman’s Dina Goldentayer and Douglas Elliman’s Oren Alexander
WATCH: Top luxury brokers go head to head at TRD’s Miami event
WATCH: Top luxury brokers go head to head at TRD’s Miami event
David and Celia Centner with the Palm Island mansion (Getty, Compass)
Controversial Centner Academy owners revealed as buyers of $28M Palm Island mansion
Controversial Centner Academy owners revealed as buyers of $28M Palm Island mansion
Miami Beach state of mind: Hotelier buys Billy Joel’s former waterfront North Bay Road home
Miami Beach state of mind: Hotelier buys Billy Joel’s former waterfront North Bay Road home
Miami Beach state of mind: Hotelier buys Billy Joel’s former waterfront North Bay Road home
Government watchdog memo reveals reasons for clearing Dan Gelber of unlawful campaign fundraising
Government watchdog memo reveals reasons for clearing Dan Gelber of unlawful campaign fundraising
Government watchdog memo reveals reasons for clearing Dan Gelber of unlawful campaign fundraising
arrow_forward_ios

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

Loading...