A $50 million duplex penthouse condo at the Faena Residence, a part of the Faena District in Miami Beach, has gone under contract. The listing was the most expensive home of the area.
The Wall Street Journal broke news of the sale citing Alicia Goldstein, an executive vice president at the Faena Group. Goldstein confirmed to the publication that the residence had gone under contract but did not reveal the price or the buyer's identity.
Jeffrey M. Miller of Zilbert International Realty represented the buyer in the deal. The buyer liked the privacy that the 8,273-square-foot, five bedroom, five and two half bathroom apartment offered. The fact that the building is small and the penthouse has a rooftop pool also impressed the buyer, Miller told the Journal.
The Faena Residences have been gracing property headlines since it started development. More recently, Larry Gagosian, one of the greatest art dealers, purchased a condo in the under-construction building for an unknown price.
The Faena Residence Miami Beach development is an 18-story beachfront apartment building designed by starchitects Norman + Foster. It is the first element of the Faena District Project, an upcoming luxury residential, cultural and commercial space at Miami Beach. It is being developed by Alan Faena and businessman partner Len Blavatnik.
"It is Alan Faena's 21st Century vision of true indoor/outdoor living-ingeniously designed and engineered, and meticulously constructed to exist in perfect harmony with its ocean front setting. Breakthrough architectural advances allow panoramic views from ocean to bay with glass walls that open extraordinarily wide to virtually eliminate a division between indoors and out making Faena House the perfect condo," the official website states.
Also called the Faena House, this under-construction condominium building offers one to five bedroom-units, fully furnished and laden with the most modern amenities. There are a total of 47 condo apartments in the residential structure with interiors ranging from 1,307 to 4,730 square feet.
What makes these residences unique is their luxurious open floor plan that allows for free outdoor-indoor living. Each condo has a terrace wrapping around itself. Interiors feature floor-to-ceiling glass windows, 10 to 6-feet-high ceilings and either "white Venetian Terrazzo or 8″ Light White Oak" flooring.
Check out more features of the penthouse at the Faena House here. Also take a look at the Faena District project in a video below:
