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. 

 

 

8 Comments on Setai condo-hotel in South Beach sets record

NOV
09
2007
2 Featured Posts
Oh that sounds like an incredible place and price :)
7:44pm • #1
299,071 Points 3 Featured Posts Localism Sponsor Outside Blog
That is just incredible, I would love to see some pictures. I just read a little about it, it has everything amenity imaginable.
7:57pm • #2
600,380 Points 45 Featured Posts Outside Blog

Moniks - incredible is right.

Elaine - here are some links:

 The hotel

 The condos

 The information on the condos is courtesy of our own Kevin Tomlinson.

Enjoy!
8:02pm • #3

Sharon - I can't even imagine what that agent must be feeling right now! Absolutely mind boggling!
8:07pm • #4
1 Featured Post
Sharon, you are so right to mention the fractional interests. It is a concept that will work very well on our beaches here in Pinellas. To do them properly, an agent had better be educated in them and not just fly by the seat of their pants. We have a group here on AR aptly titled Fractional Real Estate Group.
8:25pm • #5
221,087 Points 56 Featured Posts Outside Blog
The Setai is absolutely magnificent!  and the location is fantastic - the sales at the Setai have broken all kinds of records.
9:11pm • #6
NOV
10
2007
130,235 Points Outside Blog
I would love to see the inside!!!!
11:09am • #7
136,910 Points Outside Blog
Sharon they are currently building condo-hotel here in our area.  It will be the first of its kind.  I don't believe we will see the record setting numbers that you have but I'm still watching to see how it will go.
11:36am • #8


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Sharon Simms St Pete FL - CRS CIPS CLHMS RSPS

Saint Petersburg, FL

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