One buyer pays $34M for two condos at Ian Schrager’s Miami Beach Edition

March 6th, 2013

Kevin Gale
Editor in Chief
South Florida Business Journal

One buyer has reportedly bought two penthouse units at Ian Schrager’s residential project in South Beach.

An unnamed American buyer has paid $34 million for two penthouses in the Residences at the Miami Beach Edition being developed by Ian Schrager, according to WSJ.com.

Broker William P.D. Pierce said theresidences together would represent the largest condo sale ever in Florida.

The penthouses total 16,162 square feet, including outdoor terraces, with 9,847 square feet inside.

Lap pools, outdoor kitchens, fireplaces and pergolas are among the amenities being marketed on the project website.

Schrager is famous in Miami Beach for developing the Delano hotel about 17 years ago, when the city was starting to rebound.

The Residences at the Miami Beach Edition will have 26 units and be on the top floors of the existing Miami Beach Edition Hotel (formerly the Seville), as well as a new 18-story tower. Miami is one of four cities worldwide where Edition is already planning hotels, according to its website.

Schrager calls them “homes in the Sky,” and said each unit will be different.

The architect on the project is John Pawson. Schrager says his design studio and Pawson will provide fully furnished residences if clients want; they only need to bring a toothbrush.