Daily Mail/Mail Online
December 10, 2011
'Mack Daddy' Penthouse: World's Most Expensive Beach Apt. Sells For $21.5M
By Rachel Quigley
Described as the 'mack daddy' of all penthouses, it lived up to its name yesterday by selling for a record-setting $21.5 million.
Penthouse A at the Setai South Beach Resort in Miami was originally listed for $27 million but is still the most expensive single condo unit ever sold, with the highest selling price per square foot - $3,704 - of all time.
The Miami Beach condo property is a 5803 square-foot, multi-story residence that sits at the top of The Setai, overlooking South Beach and the Atlantic Ocean.
Record breaking: Penthouse A at the Setai South Beach Resort in Miami was sold for $21.5M - $3,704 per square foot
Even the closets have spectacular views of the ocean
The penthouse comes with a rooftop terrace and pool
As well as four bedrooms and four bathrooms, it also features a spacious, outdoor rooftop terrace with a private pool.
It sits on top of the world-famous 40-storey Setai Resort, which is serviced by Singapore-based, five-star hotel management company GHM Hotels.
The residence was previously owned by Netscape founder Jim Clark, who originally purchased the condo in 2004 'decorator ready' for $9 million.
The buyer has not yet been disclosed but it is said to be a businessperson rather than a celebrity.
No doubt the owners could afford to dine out, but the floor to ceiling windows in the massive kitchen could tempt anyone to cook
The master bathroom is larger than some people's entire apartments
The owner would sleep in this master bedroom, with spectacular views out over the Atlantic
The price tag defeats the previous sales price record in the area set in 2010 when the lower Setai penthouse was sold for $15 million.
Zilbert Realty Group's Jeffrey M. Miller, who brokered the sale said: 'The penthouse is unlike any other.'
'Miami Beach continues to introduce world-class, luxury residences to buyers seeking the absolute best in living.'
According to South Beach Condo Blog's Kevin Tomlinson, there has not been a single condo unit south of New York City that has been traded for more than $16.5 million.
The living room has double height ceilings and corner views
The residence was previously owned by Netscape founder Jim Clark, who originally purchased the condo in 2004 'decorator ready' for $9 million
The master bath has a tub big enough for guests and a separate shower
He added: 'I'm certain that no unit ever has obtained in excess of $3,700 per square foot.'
So far this year there have been four properties that have sold for around $20 million in Miami Beach.