Picasso’s grandson buys condo in
Miami Beach’s South-of-Fifth

Olivier Widmaier-Ruiz Picasso paid $3.6M for a unit at Icon South Beach

Miami /
Feb.February 15, 2018 05:00 PM

Olivier Widmaier-Ruiz Picasso and the unit (Credit: Getty Images, Redfin)

UPDATED Feb. 15, 6:15 p.m.: This is sure to be an art-filled abode.

Pablo Picasso’s grandson just bought a condo in Miami Beach’s South-of-Fifth neighborhood.

Olivier Widmaier-Ruiz Picasso paid $3.6 million for unit 3701 at Icon South Beach at 450 Alton Road, records show. The 2,145-square-foot unit traded for $1,686 per square foot. That’s the highest price per square foot for a non-penthouse unit, according to the brokers, Iconic Properties co-owners Arshan Borhan and Brian Kulju, who represented both the buyer and seller.

Picasso, an author, television and music producer, is the son of Maya Widmaier-Ruiz, who is one of Pablo Picasso’s five surviving heirs, according to a 2016 Vanity Fair article. Her mother, Marie-Thérèse Walter, met Picasso when she was leaving the Paris Métro, and he said, “You have an interesting face. I would like to do a portrait of you,” according to the article. They lived together for many years and she was his muse.

The custom-built condo was designed by architect Rene Gonzalez, using glass and geometric forms, which reminded Picasso of his grandfather’s Cubism art, according to the brokers.

Picasso, who lives in Paris, has friends at Icon South Beach, and wanted to buy a unit as a retreat for the winter months, Borhan said. “He’s excited to put his touch on it in terms of furnishings and art, which he will do,” added Kulju.

Records show the unit’s seller is Ion Varouxakis of Greece. It was listed in May for $4.1 million, which means it sold for 12 percent below the listing price.

Icon South Beach was completed in 2004 by the Related Group.


Related Articles

arrow_forward_ios
Jose Luis, Martin and Carlos Melo with renderings of Aria Reserve (Melo Group)
Seeing double: Melo joins Miami condo craze with two-tower Edgewater project
Seeing double: Melo joins Miami condo craze with two-tower Edgewater project
Jorge, Jon Paul and Nick Pérez (Photos by Studio Scrivo)
Related Group’s condo kings expand their realm
Related Group’s condo kings expand their realm
Greg Norman and Tommy Hilfiger (Getty, iStock)
Buy this, sell that: South Florida luxury homeowners reshuffle during resi boom
Buy this, sell that: South Florida luxury homeowners reshuffle during resi boom
Tommy and Dee Olceppo Hilfiger with 313 Dunbar Road (Getty, Google Maps)
Tommy Hilfiger drops $21M for waterfront Palm Beach home
Tommy Hilfiger drops $21M for waterfront Palm Beach home
Alex Sapir and Giovanni Fasciano with Arte by Antonio Citterio in Surfside (Photos via Arte by Antonio Citterio/PR Newswire)
Miami penthouse sets cryptocurrency sale record: $22.5M
Miami penthouse sets cryptocurrency sale record: $22.5M
Dwyane Wade and Gabrielle Union with 5980 North Bay Road. (Getty, Brett Harris Homes)
Dwyane Wade, Gabrielle Union sell waterfront Miami Beach estate for $22M
Dwyane Wade, Gabrielle Union sell waterfront Miami Beach estate for $22M
Lynda Carter and the Four Seasons Residences at The Surf Club (Getty, Four Season)
“Wonder Woman” Lynda Carter drops $15M on Surf Club Four Seasons condo
“Wonder Woman” Lynda Carter drops $15M on Surf Club Four Seasons condo
Jennifer Lopez, Ben Affleck and their Miami Beach property. (Getty, Corcoran)
Jennifer Lopez and Ben Affleck are renting a Miami Beach mansion
Jennifer Lopez and Ben Affleck are renting a Miami Beach mansion
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...