MIAMI BEACH (CBSMiami) – Remember the real estate disaster that has throttled Miami-Dade’s economic recovery? We may be seeing the end, at least when it comes to properties for the super rich. The sale of a 3 story South Beach penthouse hit$25 million, the most expensive condo ever sold in Miami-Dade county.
The record breaking sale was for a 5 bedroom, 7 and a half bath penthouse with three floors, 25 foot ceilings (a foot for every million), and views of both the ocean and the city, depending on your mood.
The condo covers the 40, 41, and 42 story of The Continuum at 100 South Pointe Drive.
The buyer is an Italian who is staying hush-hush, but who has been to Miami a number of times. The broker who represented the buyer, Julian Johnston of Sterling Equity Realty, said the buyer plans to gut the condo and make it over with his own vision, according to CBS4 news partner The Miami Herald.
The condo as not even for sale when the buyer sought it out, attracted by the high ceilings.
The previous record for condo sale prices in Miami-Dade was the $21.5 million reached in January for a penthouse at the Setai.