Zaha Hadid’s South Beach condo gets a big price reduction
Asking price of W South Beach unit reduced 35% to $6.5M
Even a Miami Beach condo designed and owned by the late starchitect Zaha Hadid is feeling the effects of Miami’s lackluster condo market.
The listing price for the Iraqi-British architect’s 2,300-square-foot condo at the W South Beach has been reduced to $6.5 million, down from the unit’s $10 million asking price in May, according to the Wall Street Journal.
The three-bedroom and four-bathroom condo combines two floor plans of units Hadid had bought in 2010 for a combined $2.79 million. It includes a guest apartment Hadid purchased for $1.38 million in 2015.
The starchitect renovated the space in her signature style with ocean views and “curvaceous lines and metallic surfaces,” listing agent Ivan Chorney of One Sotheby’s International Realty told the newspaper. Chorney and Angelica Garcia, also of One Sotheby’s, have the listing. They took it over from Rex Hamilton of Rex Hamilton Corporation.
Hadid was the first woman to receive the Pritzker Architecture Prize. Her death last year from a sudden heart attack shook the architecture world. In Miami, she led the design of One Thousand Museum, a condo tower under construction in downtown Miami.
Industry veteran Louise Sunshine also recently slashed the asking price of her Miami Beach condo. The Grand Venetian unit hit the market in 2015 for $11.75 million. Two years later it’s now asking $6.5 million – that’s a 45 percent discount off the original asking price. [WSJ] – Amanda Rabines