William P. D. Pierce of Coldwell Banker Residential Real Estate has successfuly sold the highest most expensive condominium in Miami’s History. The sales price of the Penthouse located at 1601 and 1602 The Residences at The Miami Beach EDITION has sold for $34 Million. Designed by famed architect John Pawson, the units boast a 360 degree view of the Ocean, the Bay and the City and the two units combined total 16,271 square feet.
With the sale of this luxury condominium and others setting a record high for the Miami condominium and luxury market, South Florida is poised to ride a great recovery wave in 2013. In fact, One Sothebys International Realty noted in February, 2013 that sales of property over $10,000.000.00 experienced a 115% increase from 2011 versus 2012. Source: One Sothebys International Realty – The Miami Herald – Business Monday Section February 18, 2013.
Coral Gables real estate lawyer Jacqueline A. Salcines, Esq. states “with all the new luxury projects and towers going up around Miami, the ultra-luxury home buying market is soaring once again.” “We are in the midst of a real recovery with new projects offering foreigners and investors amenities and services well beyond their wildest dreams”.
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