Image: Penthouse in Miami sold for 120 million dollars / official website, THE BOUNDARY |
Robert AM Stern Architects
A double record:
a huge and prestigious penthouse in the Shore Club Private Collection, the most prestigious and prestigious area in Miami Beach, is currently closing a contract that will not only break the sales records for apartments in the city for the spring parties - but also double the previous record for luxury apartments that are part of a building shared.
The penthouse, which covers about 975 square meters with about 695 square meters of terraces and a private roof pool with an ocean view, was sold for 120 million dollars (about NIS 436 million) - an amount that would make it, as mentioned, the most expensive residential apartment sold on Once in the Miami area.
Image: Penthouse in Miami sold for 120 million dollars / official website, THE BOUNDARY |
Robert AM Stern Architects
According to the Wall Street Journal, which reported on the ongoing deal in recent days, the previous record for apartments located in a condominium was set in 2015 and was half that price - when hedge fund billionaire Ken Griffin paid $60 million for another penthouse in the area.
The American news site states that he has since sold the property at a loss, for $46.2 million.
We emphasize that in 2022 Ken Griffin paid $106 million for a large private mansion on the waterfront in Coconut Grove in Miami, the first house in the area to cross the $100 million mark.
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Between a luxury hotel from the 1930s and a luxurious new tower
The impressive penthouse will be located in a prestigious residential project designed by Robert A. M. Stern Architects, and will include 49 private residential apartments, divided between the unique Cromwell Hotel building that was established in the 1930s, and between a new and adjacent tower that was built these days, at a height of approx. 61 meters.
In addition to the penthouse, the project will also offer a private estate with an area of approximately 557 square meters, and a five-star resort. Sales began at the beginning of last year, when prices at the time ranged from approximately $6 million to approximately $40 million, not including the penthouse of course. The project is expected to be completed in 2026.
Imagery: The residential tower where the penthouse/official website is located, THE BOUNDARY |
Robert AM Stern Architects
The price of real estate in Miami soared during the Corona period. Beyond the current record that is about to be broken, the next record aims to reach even further, when the redevelopment of the historic Raleigh Hotel asks for a price tag of 150 million dollars for a penthouse.
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real estate
Miami
U.S