The Real Deal Miami

European businessman buys at Beach House 8: $7.5M

Sixth-floor unit includes four bedrooms, four baths and cabana
By Katherine Kallergis | July 01, 2016 11:15AM

Rendering of Beach House 8 in Miami Beach

Rendering of Beach House 8 in Miami Beach

A European businessman paid $7.5 million for a full-floor condo at the newly completed Beach House 8 building in Mid-Beach. 

Douglas Elliman’s Chris Leavitt brought the buyer, who Leavitt said will use the unit as a pied-à-terre. The sixth-floor residence spans 3,783 square feet with an additional 1,172-square-foot terrace, and comes with four bedrooms, four baths and a cabana. “It was delivered decorator-ready; the only thing it doesn’t have is [finished] floors,” he told The Real Deal.

Records show SAGA S.A., a New York-based company, bought the unit. Leavitt declined to disclose the new owner’s identity. Leavitt, a “grand ambassador of sales” for the Bristol in West Palm Beach, said power broker Fredrik Eklund referred him the buyer.

Other buyers in the eight-unit building at 3651 Collins Avenue include Brazilian entrepreneur Mario Garnero, who paid $14 million for a penthouse, and a Cayman Islands-based LLC, which paid $13 million for the fourth and fifth floors. ONE Sotheby’s International Realty handled preconstruction sales, with prices starting at $5.9 million.

Ugo Colombo and Valerio Morabito delivered the 10-story building about a month ago after breaking ground in 2014. Units feature Boffi kitchens, marble countertops, Lutron lighting systems and custom home automation systems.

Beach House 8, designed by Arquitectonica, is in the same Miami Beach neighborhood as the Faena District, which runs on both sides of Collins Avenue, from 32nd Street to 35th Street. Leavitt called the enclave between the Edition and Faena “the platinum corridor.”