Real Estate News | Featured Columnists
Miami Beach Penthouse Sells for Record Breaking $21.5 Million
By Michael Gerrity | December 15, 2011 2:49 PM ET
Miami-based luxury real estate brokerage firm Zilbert Realty Group has set a new Miami Beach sales record this week with its recent sale of the top-floor penthouse at Miami Beach's uber-luxe Setai Resort and Residences.
The $21.5 million sale of the penthouse is Miami's most-expensive condo ever sold, and has Miami's highest-ever condo selling price per-square-foot.
The Setai Penthouse is a 5803 square-foot, multi-story residence that sits at the top of luxury tower overlooking South Beach and the Atlantic Ocean. It also features a spacious, outdoor rooftop terrace with private pool, the only one of its kind.
The previous Miami real estate sales record was set in 2010 with the sale of a lower Setai penthouse, then selling at $15M. This recent Setai sale at $3704 per-square-foot beats previous sales of the lower Setai penthouse in 2010 and Apogee South Beach's sale of PH-04 in 2008. Each sold then for roughly $2400 per square foot.
Zilbert Realty Group sales manager Jeffrey M. Miller brokered the sale.
See recent related news story on WORLD PROPERTY CHANNEL:
Uber-Luxe Condos in South Beach Now Flirting With $3,000 a Square Foot Pricing Power