CLOSED! Kevin Durant’s PH at 900 Biscayne sold for $3.15M

Sale is part of four-unit investment

TRD MIAMI /
May.May 08, 2015 05:00 PM

Kevin Durant’s penthouse at 900 Biscayne has just closed for $3.15 million — $300,000 below its asking price, The Real Deal has learned.

Michael Light of Miami Luxury Homes, who brought the buyer, told TRD that he went through four rounds of negotiations before closing on the property Friday. Ben Moss of ONE Sotheby’s International Realty represented Durant in the sale.

The 3,800-square-foot residence was gutted and remodeled by Durant shortly before putting it up for sale, and it came furnished, Light said.

It went under contract in April to an unnamed Colombian buyer, who at the time was planning to pick up several South Florida condos as part of a long-term investment.

The buyer also spent roughly $4 million on three side-by-side units at the upcoming Paramount Miami Worldcenter, all of which sit next to each other on the building’s east face directly under the penthouse, Light told TRD.

His client was considering combining those units into a 5,500-square-foot mega condo, though he has three years to decide before Paramount opens, Light said.

All four of the buyer’s units will become rental properties, with Durant’s penthouse going for $22,000 a month, Light said. The buyer plans on keeping the properties for at least five years.

“He believes this is a really safe investment,” Light said.


Related Articles

arrow_forward_ios
Former Mexican president’s son sells Coconut Grove home for non-waterfront record of $5M

Former Mexican president’s son sells Coconut Grove home for non-waterfront record of $5M

Developer launches sales for luxury homes in the West Grove

Developer launches sales for luxury homes in the West Grove

Neighboring condo association files appeal against Miami Worldcenter’s redesign

Neighboring condo association files appeal against Miami Worldcenter’s redesign

Basketball star Kevin Durant’s former Miami penthouse rented out for $18K — again

Basketball star Kevin Durant’s former Miami penthouse rented out for $18K — again

New York ad execs pay $2.9M for Wynwood warehouse

New York ad execs pay $2.9M for Wynwood warehouse

Elliman taps Michael Light to lead luxury sales at Grove office

Elliman taps Michael Light to lead luxury sales at Grove office

Retail space at 900 Biscayne hits market for $10.4M

Retail space at 900 Biscayne hits market for $10.4M

Canadian interest in Miami high despite strength of US dollar

Canadian interest in Miami high despite strength of US dollar

arrow_forward_ios