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

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 Article

Dwyane Wade, Gabrielle Union and the North Bay Road home (Credit: Getty Images, Lux Hunters)

One last sale? Dwyane Wade lists Miami Beach estate for $33M

Construction of downtown Hollywood high-rise may start soon

Jeffrey Epstein commits suicide by hanging himself in his Manhattan jail cell

Miami developer Dan Kodsi plans large St. Petersburg project that could cost $2B

South Florida firm buys Sunrise apartment complex for $20.2M

Home owned by late Miami Marlins pitcher Jose Fernandez is in foreclosure

Arnold Scaasi and his Palm Beach property (Credit: Getty Images, Realtor)

Trust of late fashion icon Arnold Scaasi sells Palm Beach estate

Nick Bosa and a rendering of 30 Thirty North Ocean (Credit: Getty Images)

NFL player buys Fort Lauderdale Beach condo