The Real Deal Miami

Former late night bandleader Paul Shaffer sells Continuum South Beach condo

Unit 1706 sold for about $2,550 psf
By Amanda Rabines | April 23, 2018 03:30PM

UPDATED April 23, 5:30 p.m.: Late night TV’s Paul Shaffer just sold his condo unit in South Beach for about $6.4 million, property records show.

David Letterman’s long-time bandleader and sidekick sold unit 1706 at the south tower at the Continuum to New York financier Kenneth Burns. The 2,500-square-foot unit at 100 South Pointe Drive in the South-of-Fifth neighborhood traded for about $2,550 per square foot.

Shaffer spent more than 30 years on the Late Show with David Letterman. Records show he bought the three-bedroom, three-bathroom unit in 2007 for $3.75 million.

Timothy Powers and Timothy Singer of Coldwell Banker Residential Real Estate had the listing. Powers said the unit hit the market in January for $6.8 million. Features include 10-foot ceilings and a 700-square-foot wraparound terrace with ocean views. Theresa Glorioso of Fathom Realty brought the buyer.

The $440 million, two-tower condominium project was developed by Ian Bruce Eichner’s Continuum Company in the early 2000s. The development sits on a 12-acre property and features two lagoon pools, a spa and gym, and 1,000 feet of beach frontage.

The sale is in line with recent deals at the Continuum towers, where units often trade for high per-square-foot prices. In August, the CEO of the major pasta sauce manufacturer LiDestri Food and Beverage, Giovanni “John” LiDestri, sold his 2,900-square-foot condo for about $2,170 per square foot. Last year, a New York hedge funder sold two units on the 34th floor of the south tower for $10 million, or $2,100 per foot.