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
From left: Stephen Macricostas and Andre Branch in front of 4535 Nautilus Court (Getty Images, Redfin)
Buyer of Andre Branch’s former Miami Beach house flips it for $7M
Buyer of Andre Branch’s former Miami Beach house flips it for $7M
Trippie Redd with 5600 Southwest 136th Avenue (Getty, iStock, Richard Lopez of Lopez Productions, Illustration by Shea Monahan for the Real Deal)
Rapper Trippie Redd buys Southwest Ranches estate
Rapper Trippie Redd buys Southwest Ranches estate
Black Lion Investments' Robert Rivani and the Ritz-Carlton Residences at 4701 North Meridian Avenue in Miami Beach (Ritz-Carlton Residences, Black Lion Investments)
Black Lion’s den: Robert Rivani pays $8M for waterfront Miami Beach penthouse
Black Lion’s den: Robert Rivani pays $8M for waterfront Miami Beach penthouse
Emilio and Gloria Estefan with 444 West Rivo Alto Drive (Getty, Redfin)
Gloria and Emilio Estefan sell waterfront Venetian Islands home
Gloria and Emilio Estefan sell waterfront Venetian Islands home
The property at 102 Jungle Road with Ivana Trump and Tomas Maier (Google Maps, Getty, Wikipedia)
Ivana Trump’s former Palm Beach mansion sells for $73M
Ivana Trump’s former Palm Beach mansion sells for $73M
Unit 6A at 3315 Collins Avenue with Arvind Sanger (Redfin, PrathamUSA)
Hedge funders make a deal: Faena House condo trades for $15.5M
Hedge funders make a deal: Faena House condo trades for $15.5M
Sarah and Shaya Boymelgreen with a rendering of 42 Pine (Getty, 42 Pine)
Boymelgreens launch sales of boutique Miami Beach condos on Pine Tree Drive
Boymelgreens launch sales of boutique Miami Beach condos on Pine Tree Drive
Todd Michael Glaser and Tim Hardaway Jr. with 6015 North Bay Road (Getty, iStock, Illustration by Shea Monahan for the Real Deal)
Tim Hardaway Jr. buys non-waterfront spec home in Miami Beach
Tim Hardaway Jr. buys non-waterfront spec home in Miami Beach
arrow_forward_ios

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

Loading...