Zilbert Sells Miami Beach Penthouse For Record $21.5M

December 13, 2011

Setai South Beach condosThe Massive Penthouse at South Beach’s Setai Resort and Residences Fetches a record $3704 per square foot

Miami-based Zilbert Realty Group, a leading real estate brokerage company, announced today that it has sold the top-floor penthouse at Miami Beach’s famed Setai Resort and Residences, a Miami Beach condo property, for $21.5M. Penthouse ‘A’ is a 5803 square-foot, multi-story residence that sits at the top of The Setai, overlooking South Beach and the Atlantic Ocean. It also features a spacious, outdoor rooftop terrace with private pool, the only one of its kind.

The sale of the penthouse sets two new condo sales records in Miami Beach. It becomes the most-expensive condo ever sold, and has the highest selling price per square foot of all time. The $21.5M sales price topples the previous sales price record which was set in 2010 with the sale of a lower Setai penthouse, a sale then worth $15M. Another record that is broken with this sale is the $3704 per-square-foot selling price. This upsets records set also with the lower Setai penthouse in 2010 and Apogee South Beach’s sale of PH-04 in 2008, each selling for roughly $2400 per square foot.

Zilbert Realty Group Sales Manager, Jeffrey M. Miller, brokered the sale. Miller describes the penthouse as being, “A residence unlike any other”. He adds that “Miami Beach continues to introduce world-class, luxury residences to buyers seeking the absolute best in living”. Zilbert’s Managing Broker, Mark Zilbert, further describes the Setai as “One of Miami Beach’s most luxurious condo residences”, and that “Part of the allure of The Setai is that residents are serviced throughout the condo resort by Singapore-based, five-star hotel management company GHM Hotels”.

Setai South Beach condos

Setai South Beach condos

Setai South Beach condosSetai South Beach condos

Setai South Beach condos

Setai South Beach condos

Setai South Beach condos

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