The Real Deal Miami

Continuum condo sells for $3.3M in off-market deal

Off-market cash sale comes out to $2,054 per square foot
By Sean Stewart-Muniz | July 28, 2015 11:15AM

One of the Continuum towers on South Beach

A unit in the Continuum condominium complex on South Beach just sold for $3.3 million, The Real Deal has learned.

The condo in question is a West-facing residence on the building’s 16th floor. Unit No. 1605 measures 1,606 square feet and has two bedrooms, two full bathrooms and one half-bath.

The off-market cash sale comes out to $2,054 per square foot, listing agent Carlo Dipasquale of Cervera Real Estate told TRD. Dipasquale would not disclose the buyer’s identity. The buyer was represented by Stefano Santoro of Beachfront Realty

Carlo Dipasquale of Cervera Real Estate

The seller purchased the property in April of last year for $2.5 million, according to Miami-Dade County property records. Bruma Holdings, a company managed by local law firm DiFalco & Fernandez, is listed as the owner.

Dipasquale said his client, an Italian who he declined to name, originally had no intention of selling the unit.

Unit 1605 has no upgrades or furnishings and was sold with the original finishings that were installed when the Continuum was first built in 2007.

“My client had never lived in it,” Dipasquale said. “They (sic) didn’t even have time to furnish it because they bought it a year ago.”

The Continuum has a line of westward facing units that are all the same size (1,606 square feet) up to the 20th floor. Dipasquale said that of all of these particular units, his sale was the highest priced. The second highest was the $2.8 million sale of unit 1705 last year.