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
Myles Chefetz and 5780 LaGorce Drive (Douglas Elliman, Facebook)
Prime 112 owner Myles Chefetz pays $5M for non-waterfront Miami Beach spec home
Prime 112 owner Myles Chefetz pays $5M for non-waterfront Miami Beach spec home
Kevin Flaherty and 1337 North Venetian Way in Miami Beach (Google Maps, Morgan Stanley)
Morgan Stanley portfolio manager sells waterfront Venetian Islands home
Morgan Stanley portfolio manager sells waterfront Venetian Islands home
Miami-Dade condo sales map and Oceana Key Biscayne (Google Maps)
$18M Key Biscayne penthouse leads weekly condo sales
$18M Key Biscayne penthouse leads weekly condo sales
Jonathan Newhouse and Eighty Seven Park at 8701 Collins Avenue, Miami Beach (Getty, Eighty Seven Park Condo)
Condé Nast chairman sells Eighty Seven Park condo for $6M
Condé Nast chairman sells Eighty Seven Park condo for $6M
Major Food Group partners Rich Torrisi, Jeff Zalaznick and Mario Carbone over Miami/Miami Beach (Getty, iStock)
Major plans: Major Food Group to open four more restaurants in Miami, Miami Beach
Major plans: Major Food Group to open four more restaurants in Miami, Miami Beach
Russell Galbut and a rendering of the project (Studio MCG Architecture)
Russell Galbut wants to turn South Beach hotel and adjacent building into offices and restaurants
Russell Galbut wants to turn South Beach hotel and adjacent building into offices and restaurants
David Reiser and 5061 North Bay Road, Miami Beach (Google Maps)
JP Morgan managing director pays $7M for non-waterfront North Bay Road home
JP Morgan managing director pays $7M for non-waterfront North Bay Road home
Guess CEO Carlos Alberini (Getty, Google Maps)
Guess it didn’t work out: Guess loses suit seeking rent break at Lincoln Road store in Miami Beach
Guess it didn’t work out: Guess loses suit seeking rent break at Lincoln Road store in Miami 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...