The Real Deal Miami

Health care entrepreneurs list Continuum condo for $17M

Combined unit is asking $3,357 per square foot
By Katherine Kallergis | April 10, 2017 03:00PM

Continuum South unit 3803. Inset: Paul and Teresa Klaassen

A pair of health care entrepreneurs want to sell their Continuum South Beach unit for $16.95 million.

Property records show Paul and Teresa Klaassen own unit 3803 at the south tower, at 100 South Pointe Drive, which hit the market on Friday. Coldwell Banker’s Jill Hertzberg of the Jills is the listing agent. She could not immediately be reached for comment.

The Klaassens founded Sunrise Senior Living, a senior living company that sold to Ohio-based Health Care REIT in 2012 for $845 million, the Washington Post reported at the time.

Records show Paul Klaassen bought the South Beach condo from the developer in 2003 for about $1.78 million, which means it’s now listed for nearly 10 times the preconstruction price. The current asking price breaks down to about $3,357 per square foot.

The 5,049-square-foot combined unit is on the 38th floor of the Continuum South, and features views of the ocean, Government Cut, Fisher Island, downtown Miami and Miami Beach. It has smart home technology, a gourmet kitchen and custom finishes, according to the listing.

The Continuum, at 50 and 100 South Pointe Drive, was developed by Ian Bruce Eichner’s Continuum Company in the early 2000s. Amenities include two lagoon pools, a spa and gym, and 1,000 feet of beach frontage.

Units at the Continuum towers trade for high per-square-foot prices. In March, a New York hedge funder sold two units on the 34th floor of the south tower for $10 million, or an average of $2,107 per foot.

In recent months, Brazilian TV star Roberto Justus sold his Continuum condo for $15.3 million, or $2,115 per square foot; and Argentinian media moguls Daniel Hadad and Viviana Zocco sold their double unit for $10.5 million, or nearly $2,400 per square foot.