In March of 2013, yet another record has been set for the most expensive condo in Miami. The space that was sold for $34 million at The Residences at The Miami Beach Edition is in fact two side-by-side penthouses. When combined, it is considered a triplex that features 8 bedrooms, eight bathrooms, three half baths, two pools and a total of 16,271 square feet.
Ian Schrager’s mansion in the sky is one of 13 units sold in a little over a month at the Residences at the Miami Beach Edition, which boasts 26 units overall, and will rise on top of a brand he created by the same name for the Marriott on Collins Ave and 29th St. Prices for Schrager’s condos have doubed the top prices in Miami selling at more than $3,000 per square foot.
Miami real estate sources reveal that a bidding war transpired between a Wall Street financier and a family from New Jersey. The family won and will be living in one of the luxurious homes designed by California-based architect John Pawson.
All 26 of Schrager’s condo units are breathtaking, featuring ocean views, double-height ceilings, dramatic entryways and indoor-outdoor living with private exterior spaces the size of a SoHo loft. Schrager says he is not surprised at the prices his condos are selling for, but he is astonished by the velocity of the sales. He also remarks that Miami has changed, and it is not a second-class beach city anymore; on the contrary, it is attracting a new kind of global citizens and becoming the only place that lives up to their standards.
MOST EXPENSIVE CONDO IN MIAMI
What makes Schrager’s the most expensive condo in Miami is meeting the standards of the most demanding clientele. The features that are especially enticing to buyers include wide entryways with remarkable views, clean lines, 21-foot ceilings, white walls and sliding glass doors that unveil the azure of the Atlantic and lead to tropical “gardens in the sky”.