Barry Sternlicht’s ex-wife buys condo at Glass in South Beach

Her ex-husband lives farther north in a waterfront mansion in Miami Beach

Barry Sternlicht’s ex-wife buys condo at Glass in South Beach
Mimi Sternlicht with 120 Ocean Drive in Miami Beach (SHOFCO, Google Maps)

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.

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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.