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South Florida

Check out downtown Miami’s most expensive rental

The condo at 900 Biscayne and Michael Light of Miami Luxury Homes
The condo at 900 Biscayne and Michael Light of Miami Luxury Homes

A wealthy family just broke the record for downtown Miami’s most expensive rental unit, and the penthouse they’re staying in happens to be basketball star Kevin Durant’s former pad.

Listing agent Michael Light told The Real Deal that the unit is being rented by a well-off family that lives on Miami Beach’s Palm Island. Their home is in the midst of heavy remodeling, so they were looking for a short-term rental to escape the noisy construction.

Kevin Durant

Kevin Durant of the Oklahoma City Thunder

“They saw it and within five minutes made me an offer on the spot,” said Light, of Miami Luxury Homes. “I moved them in last week; they’re very happy.”

The lease is for unit 6307 in 900 Biscayne, a 63-story condo tower that was built in 2008. It was formerly owned by Oklahoma City basketball star Kevin Durant, who sold the unit for $3.15 million to an unnamed Colombian investor in May of this year.

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At the time, Light said that his buyer had plans to rent out the unit for $22,000 a month. So how much is the Palm Island family paying now?

The family signed a three-month lease for $18,000 a month. According to MLS data, that makes it the most expensive rental in the 33132 area code.

Light said he expects the unit to break its own record come November because it will hit the market again just in time for Art Basel.

“Art Basel brings in the wealthiest people from around the world,” he said. “All the northerners, all the Europeans are coming to Miami because it’s their winter. Everything goes up to a premium.”

Currently, the area’s next most expensive unit is in the same tower on the 62nd floor. At its peak in February 2012, unit 6207 was rented for $17,500 a month. It’s tied with a 44th floor unit in Ten Museum Park, which was rented out in June of last year.

Miami is no stranger to expensive rentals. In Sunny Isles Beach, a sizable unit at Acqualina is being listed for a whopping $60,000 a month — though it does come with a pool on its balcony. 

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Downtown MiamiMichael LightRental Market