A penthouse at the oceanfront Faena House is renting out for $135,000 a month, marking the most expensive condo rental in Miami-Dade County since 2021.
The lease for the six-bedroom, six-and-a-half-bathroom unit at 3315 Collins Avenue in Miami Beach is also tied for the second priciest annual condo rental deal ever inked in the county, according to the Multiple Listing Service. Douglas Elliman agent Darin Tansey, who represented the landlord, said the high-end market has been active.
Tansey previously had the 6,400-square-foot penthouse A on the market for sale, asking $33 million, or $5,156 per square foot. He declined to name the tenant or identify the owner. Records show a Delaware LLC paid $29 million for the Faena House penthouse in late 2015. It’s renting the condo out for $1.6 million per year.
The high rental cost did not seem to deter prospective tenants.
“I had regular calls from outside brokers asking if the owner would ever consider renting it out,” Tansey said. “While I had this deal going, two additional people contacted me asking if they could rent it.”
Tansey said he is working on two rentals at Ritz-Carlton Residences, Miami Beach. One would be for $55,000 a month and the other for $85,000 a month.
Waterfront single-family homes on the market for rent in Miami Beach ask as much as $300,000 a month, but condos are typically less pricey. Still, the highest-priced condo rental on the market in Miami Beach currently is the penthouse at Icon South Beach, at 450 Alton Road. The 9,039-square-foot, seven bedroom unit is asking $210,000 a month, according to the listing. The top 10 listings bottom out at $61,000 per month.
Here’s a look at the most expensive secured condo rentals in Miami-Dade County, according to the MLS.
Four Seasons Residences at the Surf Club | Rented for $150K a month
Penthouse 2 in the south tower of Four Seasons Residences at the Surf Club rented for $150,000 a month in December 2021. It’s the most expensive on-market condo rental ever in Miami-Dade. The five-bedroom, eight-bathroom and three half-bath unit at 9001 Collins Avenue in Surfside spans 5,675 square feet. Units at the Surf Club often trade for some of the highest prices per square foot in Miami-Dade County.
Faena House | Rented for $135K a month
The Delaware entity Pomes Miami Beach acquired penthouse A at Faena House in late 2015, the same year that the building was completed. It was recently rented for a period of two years for a total of more than $3.2 million. This penthouse is not one of the units that billionaire hedge fund manager Ken Griffin bought and sold at Faena House.
Four Seasons Residences at the Surf Club | Rented for $135K a month
Unit 413 in the north tower of Four Seasons Residences at the Surf Club rented for $135,000 a month in April 2021. The four-bedroom, four-bathroom and one half-bath condo at 9111 Collins Avenue spans 3,800 square feet.
Palazzo Del Mare on Fisher Island | Rented for $120K a month
The owner of 7143 Fisher Island Drive rented out their unit at Palazzo Del Mare for $120,000 a month in December 2022. The 7,025-square-foot, five-bedroom luxury condo last sold for $14.2 million in 2011. The Fisher Island unit is now on the market for sale asking $22.5 million with Tatyana Ionin of Coldwell Banker.
Read more
Residential
South Florida
Here’s a look at Palm Beach’s priciest offseason rentals
Residential
South Florida
Sticker shock: Ranking South Florida’s priciest residential rentals