321 Ocean penthouse reduced $18 million
Miami Beach property is second-priciest condo
MIAMI BEACH – The penthouse at 321 Ocean in Miami Beach is back on the market, but at $18 million less than the original asking price.
Financier Boris Jordan and his wife, Elizabeth, purchased the home for $20 million in 2015, according to Miami-Dade property records.
Boris Jordan is the CEO of the Sputnik Group. According to its website, Sputnik is a private equity and venture capital firm that invests in companies involving financial services, media, insurance, software and technology. A Russian-American, he is credited with helping to jump-start Russia's economic transition to capitalism in the early 1990s and assisting in the creation of the Russian stock market.
The Jordans tried to score a quick profit on 321 Ocean, putting the home back on the market months after their purchase for $53 million. It was the most expensive residence in the area at the time.
The price tag wasn't unfathomable, as it was just below the record-setting $60 million sale of the Faena House penthouse — located a few miles north on Collins Avenue. The Faena deal had been finalized three months earlier.
The new 321 Ocean price tag, now a dollar less than $35 million, makes it the second-priciest condo for sale in Miami Beach. Once again, it trails the Faena House penthouse, which is back on the market and relisted for $55 million.
Douglas Elliman’s Bill Hernandez and Bryan Sereny, of the Bill and Bryan Team, now hold the 321 Ocean listing.
The two-story penthouse features five bedrooms, five full bathrooms and two half bathrooms. It also has a large family room and office/library.
Boasting 6,807 square feet of interior space, the penthouse has more than 6,400 square feet of exterior space, which includes a 36-foot infinity pool, outdoor kitchen and fireplace.
321 Ocean has 21 luxury residences, including two penthouses and two beach villas. It’s nestled inside South Beach’s South of Fifth neighborhood, known to locals as SOFI.
The area encompasses everything south of Fifth Street and ends at South Pointe Park. It’s become home to some of South Florida’s most luxurious condo buildings, including Apogee South Beach, Portofino Tower, Icon and Ocean House.
jboehm@sun-sentinel.com, 954-356-4527 or Twitter @SSPrimeProperty