Luxury Real Estate Market Ended 2012 With Two Huge Condo Sales in South Beach

January 5, 2013

The Miami Beach luxury real estate market closed out 2012 with a bang.  Two huge condo sales took place over the last four days of the year.

A bi-level penthouse at Icon South Beach sold on New Year’s Eve for slightly under $21M, or $2,623 per square foot.  The 4 bedroom/6.5 bath condo sold above asking price as it had been listed for $19M.  The lavish residence has roughly 8,000 interior square feet and has its own rooftop deck and pool.  The penthouse was previously purchased in 2007 for $7M.

On December 28th, a second two-story penthouse sold but this time over at Continuum South Beach North Tower.  The 5 bedroom/5.5 bath condo sold for $11M, or $1,580 per square foot.  The 6,963 square foot residence has a southeastern exposure with views of the Atlantic ocean and Government Cut.  The unit was sold “decorator-ready” straight from the developer.