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News » St. Regis Bal Harbour penthouse sells for $22.75 million

St. Regis Bal Harbour penthouse sells for $22.75 million

May 21st, 2014

miami-herald
BY MARTHA BRANNIGAN

The penthouse at the exclusive St. Regis Bal Harbour south tower sold for $22.75 million.

The 14,129-square-foot condominium — unit 2501 at 9701 Collins Avenue, Bal Harbour — was previously owned by 9701 25th Floor Condo Inc., a Delaware corporation whose president and sole shareholder is Yuriy Kosyuk, a Ukrainian billionaire businessman with holdings in poultry and food products. The buyer was 9701 Collins LLC, a Delaware limited liability company.

According to the website of Coldwell Banker Realtor Tim Elmes, the listing agent, the penthouse comprises the entire top floor, offering 360-degree views. It was originally envisioned as five separate units. The sale sets a record for raw space, but it wasn’t the top dollar paid for a Miami condo.

“That’s a big number for Bal Harbour,’’ said Jeff Miller, an agent with Zilbert International Realty, whose January 2013 sale of The Setai penthouse for $27 million set the record for a Miami condo. Since then, two units being consolidated into one at The Edition Miami Beach went under contract for $34 million. That sale, handled by agent William P.D. Pierce of Coldwell Banker, is expected to close in September 2014.

Miller said he expects to set a new record when a deal closes for the penthouse at Faena House in Miami Beach, which recently went under contract. The price hasn’t been disclosed on that unit, which was listed for $50 million.

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