174 // TOP DOL­LAR

The most ex­pen­sive con­do­minium on Mi­ami Beach gets listed for a cool $65 mil­lion.

Ocean Drive - - Contents March 2017 - By ROBYN A. FRIED­MAN

The most ex­pen­sive condo on Mi­ami Beach gets listed for a cool $65 mil­lion.

WEL­COME HOME! Carlo Gam­bino, ex­ec­u­tive vice pres­i­dent of Dou­glas El­li­man Flor­ida, re­cently listed a tri-level pent­house in Mi­ami Beach’s ex­clu­sive Apogee build­ing that he calls the “best apart­ment south of New York City.”

The 8,271-square-foot unit, de­signed by Mi­ami’s PH De­sign Stu­dio Group—known for their work on the Gianni Ver­sace man­sion—has five bed­rooms, seven full baths, one half bath, and a 7,000-square­foot pri­vate rooftop ter­race com­plete with a pool, Jacuzzi, ca­bana, out­door kitchen, and movie the­ater. The price for all this op­u­lence? An as­tound­ing $65 mil­lion, which would break the Mi­ami record pre­vi­ously set by Dou­glas El­li­man when it sold the $60 mil­lion pent­house at Faena House in late 2015.

“It’s the largest and nicest pent­house in the build­ing,” says Gam­bino. “I’ve been sell­ing real es­tate for over 22 years in Mi­ami Beach, and it’s the best unit I have ever seen.”

The for­mal liv­ing room area with its 20-foot-high ceil­ings is an­chored by a mag­nif­i­cent glass spi­ral stair­case that cost close to $1 mil­lion. ƨʃʃƨƭƣƭƞ Ʃƚơƞ: Con­nect­ing two of the three floors of the $65 mil­lion pent­house in the sky, the sculptural stair­case is truly a feat RIBHQJLQHHULQJ

Lo­cated at 800 South Pointe Drive in Mi­ami Beach’s posh South of Fifth neigh­bor­hood, Unit 2204 is a con­tem­po­rary pent­house that was pur­chased new in 2008 for $16.5 mil­lion by en­tre­pre­neur Wil­liam Duker, who then spent the next five years com­plet­ing it to per­fec­tion. The stone used for the floors and walls cost more than $1 mil­lion alone, with­out in­stal­la­tion.

“It took six months to de­sign and then a year to get through the per­mit­ting process,” Gam­bino says. “The owner also re­moved some of the struc­tural con­crete slabs to cre­ate a mag­nif­i­cent glass stair­case and cor­ri­dor. He re­placed ce­ment with glass, and that process took an ex­tremely long time.”

The re­sult is a stun­ning, two-story glass stair­case—the fo­cal point of the liv­ing room. De­signed by Faour Glass Tech­nolo­gies, that fea­ture cost close to $1 mil­lion, says Gam­bino, who notes that “the en­tire unit was done with the most ex­quis­ite taste and at­ten­tion to de­tail—and the most ex­pen­sive ma­te­ri­als.”

Span­ning the 22nd, 23rd, and 24th floors, the unit ac­tu­ally has more ex­te­rior space than in­te­rior, with a to­tal of 13,149 square feet of out­side ter­races.

Though tech­ni­cally lived in, the apart­ment is more like new; ac­cord­ing to Gam­bino, Duker re­sides in up­state New York and did not use the home as his pri­mary res­i­dence. Now he’s sell­ing the unit, Gam­bino says, to spend time sail­ing the Caribbean and the Mediter­ranean on his new 270-foot sail­ing yacht, Sy­baris.

So what is the buyer pool for a record-break­ing unit like this? “Most of the sales of sim­i­lar prop­er­ties have been to the North­east mar­ket—hedge fund man­agers from New York City,” Gam­bino says. “That’s the big­gest mar­ket, but I just had a well-known gen­tle­man from Dubai who came to see it, so the Mid­dle East would be an­other source of this type of clien­tele, as would Rus­sia. It’s not a Hol­ly­wood buyer. Hol­ly­wood can’t af­ford a $65 mil­lion unit.” el­li­man.com


Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.