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The Real Deal Miami

Louise Sunshine slashes ask of Miami Beach penthouse

Now listed at 45% discount off 2015 asking price
By Katherine Kallergis | October 24, 2017 06:00PM

It’s on to the next price for Louise Sunshine, who again has reduced the ask on her Miami Beach penthouse.

Sunshine, who recently hired Douglas Elliman’s Oren Alexander and Isaac Lustgarten to list the unit, first put the two-story, 6,400-square-foot condo at the Grand Venetian on the market in 2015 with Coldwell Banker’s Jill Hertzberg and Jill Eber for $11.75 million. Later that year, Sunshine replaced the Jills with Jeff Miller of Brown Harris Stevens Miami and reduced the price for unit 2502/2 at 10 Venetian Way to $9.9 million.

It’s now on the market with Alexander and Lustgarten for nearly $6.5 million, a 45 percent discount off the original asking price. Sunshine is under contract to purchase a smaller unit at the Four Seasons Private Residences at the Surf Club, where she wants to move in. “I’m in my 70s. I look forward to having Four Seasons services for the rest of my life,” Sunshine said.

Sunshine, who founded the Sunshine Group that later merged with New York-based Corcoran Group, paid more than $4 million for both units in 2013 and invested millions into renovating and combining them.

The six-bedroom home includes a glass staircase, Pilates studio, library, bar, three terraces and parking for five cars. Sunshine is also offering some of the furniture, designed by Vladimir Kagan. Sunshine said she spent more than $500 a square foot on finishes.

“I reduced the price to $6.5 million because I really want to sell it,” she said. “If this penthouse were on the ocean in South Beach, it would probably be $30 million.”