The Real Deal Miami

Marlins’ Giancarlo Stanton to buy $6.6M penthouse at Aria on the Bay

Stanton inked $325M deal with the Marlins in 2014, largest sports contract in history
By Katherine Kallergis | May 24, 2017 11:15AM

Renderings of Aria on the Bay. Inset: Giancarlo Stanton (Credit: Getty Images)

Miami Marlins outfielder Giancarlo Stanton is under contract to purchase a penthouse at the Melo Group’s Aria on the Bay building.

Stanton, who signed the largest sports contract with the Marlins in 2014 – a 13-year, $325 million deal – is buying a unit that was listed for $6.6 million, according to the Wall Street Journal. A spokesperson for the developer declined to disclose a closing price.

The three-story, five-bedroom condo spans roughly 4,800 square feet plus an additional 3,000 square feet of outdoor space. Ben Moss and Jon Fincher of Compass represented the baseball slugger. Cervera Real Estate represented the developer.

Stanton will be able to enjoy his unit as early as the beginning of next year. Melo expects to deliver the 53-story, 648-unit building at 1770 North Bayshore Drive in early 2018. It topped off less than a month ago.

His penthouse will feature a private pool, outdoor summer kitchen and views of the bay, Miami Beach and downtown Miami’s skyline. Stanton will also have access to Aria’s amenities, which will include two swimming pools, a spa, gym, yoga room, a bar and entertainment lounge, a screening room and a game room. The building was designed by Arquitectonica and will also have about 20,000 square feet of commercial space, including office, retail and restaurant space at the ground level.

Aria on the Bay is about 80 percent sold, according to the developer. Prices range from the $400,000s to about $6 million. Penthouses begin at $1.8 million, according to a spokesperson.

Melo recently lowered the deposit requirements from this cycle’s standard of 50 percent to 35 percent in an effort to sell out the building. For units priced at more than $1 million, deposit requirements now go as low as 20 percent.

The tower, which overlooks Margaret Pace Park, is near Miami’s Edgewater and Arts and Entertainment neighborhoods. In December, a neighboring apartment building settled a lawsuit with the developer over claims of “dangerous” construction debris falling from the Aria project site and crashing onto the entrance of Bay Parc Plaza.