A contract has been announced on a penthouse at the Setai oceanfront condo-hotel in South Beach. This would be a record high in Miami for a condominium at $24 Million, furnished. This 6,000 sq ft apartment with 4,000 sq ft of terraces, a pool and hot tub and separate butler's quarters. Reportedly Andrew Barroway, an attorney in Philadephia, bought the unit unfurnished in 2004 for $9,500,000.
It's interesting that this record sale is in a condo-hotel. The trend is certainly toward condos in luxury resorts, a trend well established by both Ritz-Carlton and the Four Seasons.
My best-buy recommendation for a condo adjacent to a hotel or a condo-hotel here in Pinellas County is the new Sandpearl on Clearwater Beach. There are a few of each available.
Also watch the trends in fractional interests.