Elysee PH under contract for nearly $13M, setting new record in Edgewater

Three-story, nearly 12K sf unit will be designed by Carlos Touzet

Jul.July 12, 2019 11:30 AM
Rendering of Elysee

Rendering of Elysee

UPDATED, July 13, 11:25 a.m.: A penthouse at the under-construction Elysee Miami tower is under contract for $12.8 million, a sale that would blow past the previous $4.1 million record in Edgewater, The Real Deal has learned.

Two Roads Development is developing the 57-story, 100-unit tower at 788 Northeast 23rd Street in Edgewater, a neighborhood where a number of new condo projects have recently been completed or are in the pipeline.

The previous record was for penthouse 5003 at Biscayne Beach, also a Two Roads project, that sold to a company controlled by Mark J. Seeling, founding partner of MSF in New York. Cervera Real Estate brokered both the Elysee deal and the $4.1 million record sale, the latter of which closed in April.

Sebastian Acosta of Engel & Volkers Miami represented the buyer of the Elysee penthouse.

The developer declined to comment on the buyer’s identity of the Elysee unit. The 11,625-square-foot penthouse will take up the top three floors of the building and feature a personal elevator, an additional 6,100 square feet of outdoor space, a rooftop terrace with a pool, jacuzzi and summer kitchen. Carlos Touzet of Touzet Studio is custom-designing the unit, according to a release.

In January, Douglas Elliman took over sales of the luxury condo tower from Cervera Real Estate at 50 percent sold. Construction is expected to top out at 649 feet tall by the end of this year, and be completed in 2020.

Prices at Elysee start at $1.8 million. The half-floor and full-floor units range from three to six bedrooms and from 2,200 square feet to 5,550 square feet – excluding penthouses.

Bernardo Fort-Brescia of Arquitectonica is the building architect, and Paris-based designer Jean-Louis Deniot is designing the interiors. The project’s seventh-floor amenity level will feature a lap pool and refreshment bar; outdoor summer kitchen and barbecue terrace among others. Elysee will also have an owners sky lounge spanning the 30th floor, with a lounge and bar area, library/private theater and wine room.

Two Roads is developing the tower in partnership with entities managed by the New York investment firm DW Partners.

Two Roads completed Biscayne Beach in Edgewater in 2017, and plans to convert Elysee’s new sales gallery into a restaurant when Elysee is sold out.

Related Group is the most active condo developer in Edgewater, recently completing the Paraiso District complex in 2018, as well as Icon Bay in 2015.

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