Now if you are looking for something a little nicer on the beach, here is one on Miami Beach that just set a record for South of Manhattan price per square foot at $3,704!!
James Clark, the tech entrepreneur that founded Netscape Communications, sold a Miami Beach penthouse for $21.5 million, according to the brokers who handled the transaction.
The sale price and $3,704 price per square foot for the Penthouse A unit at Setai Resort & Residences are records for the Miami Beach condo market, the brokers said. The 40-story Setai is located at 101 20th St.
The sale of the 5,803-square-foot unit has not been recorded by Miami-Dade County.
Clark was “a little saddened” to part with the two-story unit, according to Eloy Carmenate, executive vice president at ONE Sotheby’s International Realty. Carmenate represented Clark in the sale.
“He had mixed feelings,” Carmenate said. “The apartment was very personal to him. It’s a one-of-a-kind property that can’t be replaced.”
Clark, who launched several successful technology companies in Northern California, could not be immediately reached for comment.
He paid $9 million for the unfinished unit in 2004. The 2-bedroom, 3-and-a-half-bathroom penthouse was designed to resemble a “traditional Thai home,” according to ONE Sotheby’s. Penthouse A overlooks South Beach and the Atlantic Ocean. Amenities include a rooftop terrace and a private pool.
The Singapore management company GHH Hotels provides resort services for condo residents.
Clark sought $27 million when Carmenate listed the unit in February.
Carmenate declined to disclose the buyer, citing a confidentiality agreement.
Zilbert Realty Group sales manager Jeffrey Miller represented the buyer. Miller also declined to disclose the buyer.
The buyer “is very happy with the purchase,” Miller said.
The Setai Penthouse A sale is the fourth Miami Beach condo deal at or above $20 million in 2011. It easily surpassed last year’s $15 million sale of a lower penthouse unit at Setai as the most expensive in the market’s history, according to Zilbert and ONE Sotheby’s.
Miami Beach broker Kevin Tomlinson, who authors the “South Beach Condo Blog,” also said the Penthouse A deal broke sales price and price per square foot records in Miami Beach. Tomlinson wrote on Friday that the buyer “is not a celebrity and said to be a private businessperson.”
The sale price also is a record for a condo “south of New York,” according to Carmenate.
“This is going to redefine pricing in South Beach and certainly Miami,” he said.
Overall, the Miami Beach luxury residential market “has been unaffected by what’s going on in the economy the last couple of years,” Miller said. “It continues to grow and strengthen.”
