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Blog Home » General » $60 Million Sale of Miami Beach Penthouse Sets New Record - Fox News September 2015

$60 Million Sale of Miami Beach Penthouse Sets New Record - Fox News September 2015

A luxury penthouse in the heart of Miami Beach was bought for $60 million, substantially exceeding the old record price of a mansion sold in 2012 for $47 million in the South Florida tourist city, local media reported Thursday.

The price for the penthouse, located in the new oceanfront Faena House condominium broke the previous sales record for any single family luxury home in Miami.

Besides having a private swimming pool on the rooftop and a spectacular view out over the Atlantic Ocean, the property of more than 3,000 square meters (32,000 square feet) had eight bedrooms, five bathrooms and an open-air kitchen.

Although official records do not yet list the name of the home's new owner, he or she will have Cuban sugar baron Alfonso Fanjul for a neighbor after he acquired a property in the same condo complex for $5.1 million, the daily Miami New Times reported.

The 18-story building was constructed by the Argentina firm Alan Faena on Collins Ave. as part of a cultural and business complex.

This week, the Miami Association of Realtors said that the averate sales price for condo apartments increased by 12.1 percent between August 2014 and last month, a hike in price from an average of $182,000 to $204,000.

Meanwhile, the average price for single family homes rose by 4.2 percent, from $250,000 in August 2014 to $260,500 last month.

According to the association, which has 38,000 real estate agents as members, there was a general increase over the past year of 3 percent in sales of single family homes and condos in Miami-Dade County.





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