Wall Street Journal | Jeff Miller Sells Faena Penthouse for $60M

Miami Beach Condo Sells for Record $60 Million The duplex penthouse at the Faena House condominium is about 12,500 square feet.

A duplex penthouse at the Faena House condominium in Miami Beach has sold for a record $60 million, the developer confirmed.

According to Faena Group the deal, which closed Monday, is the highest price ever paid for a single family home in the Miami area. The prior record was set in 2012 by the $47 million sale of a roughly 30,000-square-foot home in Indian Creek Village.

The penthouse listed in 2013 and went into contract in April of last year, before the building was completed. The developer customized the layout for the buyer, and the apartment now has eight bedrooms, over 12,500 square feet of interior space and nearly 10,000 square feet of exterior space. On the top floor, there is a 70-foot-long rooftop pool with views of the Atlantic Ocean and the Miami skyline.

The building originally had 47 homes, but there are now 42 because of combinations. Designed by Foster + Partners, the building has a fitness center, a spa, two pools, an underground garage and a beach club. Jeffrey Miller of Brown Harris Stevens represented the purchaser.

By CANDACE TAYLOR

Read the full article from the Wall Street Journal here.