A five-bedroom unit in Miami Beach’s Setai condo tower changed hands for $11.2 million, marking its second sale within 18 months.
Unit 3601, which takes up the entire western side of the Setai’s 36th floor, was sold to an international company in a deal that closed Wednesday, according to Miami-Dade property records.
Its previous owner, a company titled 3601 Setai, paid $10.75 million for the unit in March 2014. The company is managed by Coral Gables lawyer Michael J. Freeman.
(Click to enlarge) A floor plan for unit 3601
A year-and-a-half later, the unit has been sold for a $450,000 premium. The buyer is a company named Inter Oil Management. The company shares a name with several energy corporations that deal in oil and gas, though its address leads back to a financial consultancy named PMA, which is headquartered in Cyprus.
The unit measures 3,552 square feet, and its listing with Kendall Gables Realty Corp. describes it as the largest five-bedroom unit in the building.
A floor plan for the unit shows that it could be a triplex — its size is comparable to three units on the floor combined. Sales records indicate that the unit was always sold as a single residence.