A new record in the real estate market is always reassuring as it indicates that the economy is getting back on track. Florida has a new record with an entire floor penthouse located on the 40th floor finding a buyer for $27 million. It has broken the record of ‘Sky Mansion’, a South Beach penthouse that was sold in May for $25 million. According to Zilbert International Realty the penthouse on Miami Beach’s The Setai has created a new record for the most expensive condo ever sold in South Florida. The penthouse had gained in value as it was used frequently by celebrities like Simon Cowell, Madonna and Jim Carrey.
The Setai’s Previous Owners Bought it in 2010 for $15 Million
It was a very profitable deal for the owners who had bought the penthouse in June 2010, when the real estate market was very dull for barely $15 million. The property had given them good returns as they were renting it out to some A-list celebrities for as much as $30,000 a night. The buyer of the penthouse has chosen not to come upfront so far and no records are available as yet. The penthouse measuring 7,100 square feet occupies the entire 40th floor of The Setai located in the Miami Beach area. The features that make the penthouse exclusive are a private infinity pool, hot tub, and 3,000-square-foot terrace up on the roof.
The Floor to Ceiling Windows Provide Views of the Atlantic Ocean
The most expensive condo boasts of four bedrooms and six bathrooms. The bathrooms are outfitted with designer fixtures by Duravit and Dorenbracht. The kitchen also wears a very elegant and efficient look as it features SubZero and Gagenau appliances. The penthouse has floor to ceiling windows that enhance the views of the Atlantic Ocean. It is no doubt one of the prime properties in South Florida but at this price point one normally expects some ‘wow’ factor in terms of some extravagant features like a chromotherapy spa or some interior work done by Moroccan craftsmen flown in for the purpose. The high end real estate market is driven by excess and the trend seems to be ‘the more the merrier’.