Mimi Sternlicht seems to have taken a page from her ex-husband Barry Sternlicht, the billionaire co-founder and CEO of Starwood Capital Group, at least when it comes to picking the location of her new digs.
She paid $7.2 million for unit 1000 at Glass, a condo building at 120 Ocean Drive in Miami Beach, property records show. The John Daniel Marshall Trust sold the 3,389-square-foot unit.
The trust bought the condo for $7.8 million in 2015, the year the building was completed. The three-bedroom, three-and-a-half bathroom unit sold at a nearly 8 percent loss compared to its price six years ago.
David Martin’s Terra, based in Coconut Grove, developed the 18-story, 10-unit Glass at 120 Ocean Drive. It was one of the last high-rises completed in the South of Fifth neighborhood. True to its moniker, Glass units feature floor-to-ceiling windows offering views of the ocean and South Beach. Each unit takes up at least an entire floor.
Among Mimi Sternlicht’s neighbors at Glass is James R. Craigie, former CEO of household and personal care product line Church & Dwight, who paid $7.5 million for a unit in 2019.
Barry and Mimi Sternlicht, who have three children, have been separated since 2016. Barry developed and lives in a waterfront mansion north of Glass, and he moved his Starwood Property Trust to South Beach in 2018.
He paid $17 million for the North Bay Road property in 2015 and completed the over 14,000-square-foot home three years later.
Starwood Property Trust, the publicly traded affiliate of Starwood Capital Group, had been in a temporary space while developing its six-story headquarters at 2340 Collins Avenue. That office building, where Starwood Property Trust will occupy over half of the space, topped off in December.