British billionaire buys at Faena for $14.5M

Renderings of Faena House
Renderings of Faena House

A British billionaire joins a number of hedge fund and investment managers who have closed on units at Faena House, Miami-Dade County records show.

Alan Howard, the co-founder of Brevan Howard Asset Management LLP, paid $14.5 million for unit 4A, a four-bedroom, six-bathroom condo on the fourth floor of the 18-story tower. As of 2014, Howard’s net worth was $1.6 billion, according to Forbes.

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His 6,246-square-foot unit features 4,730 square feet of interior space and 1,516 square feet of exterior space. At Faena House, Howard joins billionaire hedge fund manager Kenneth Griffin, who reportedly paid a Miami-Dade record of $60 million for a penthouse at the tower.

Craig and Caryn Effron paid $9.2 million for unit 6B. Craig Effron co-founded Scoggin Capital Management, a multibillion-dollar hedge fund, and is currently a principal at S&E Partners. Other neighbors include Brian Kwait, founding member of Odyssey Investment Partners, a private equity company with offices in New York and Los Angeles. Kwait and his wife, Randye, paid $9.8 million for a unit on the ninth floor.

Faena House marks the first of four planned oceanfront condo towers in the ultra-luxury project, which stretches from 3200 to 3500 Collins Avenue in Miami Beach. The 42-unit tower was designed by Foster + Partners and includes amenities such as a gym, spa, pools, underground garage and a beach club.