A 7,100 square foot, four bedroom, six bathroom, penthouse was sold at Setai Resort and Residences for 27 million this week. This is the largest amount paid for a condominium in the Southeast region in the state and is more evidence of the luxury market rebound. The sale was made between two limited liability corporations, the buyers out of Delaware and the sellers of Europe. Numerous entertainers leased this stunning residence out for $30,000 per night and up including, Jim Carrey, U2, Simon Cowell, and Madonna. The home was purchased in 2010 for $15 million and the sellers made a substantial profit on the sale.
The penthouse boasts views of Downtown Miami, South Beach, and the Atlantic Ocean. These views are breathtaking and the home took up the entire 40th floor with floor to ceiling windows, and a grand terrace of over 3,000 square feet with infinity pool, outdoor kitchen, and Jacuzzi. Setai Resort and Residences was completed in 2004 and it remains one of the top buildings in South Beach for the real estate elite. The property is tranquil and modern and has a number of pools, workout facilities, spa, and a five star restaurant onsite. For more information on listings in this building or if you are looking to sell in the building, contact us today!