Biscayne Beach Developers May Have Broken Edgewater Record With $8.6M Penthouse Sale

Biscayne Beach developer say that they have sold a penthouse unit for $8.6 million, which could be the most expensive unit ever sold in Edgewater.


Miami’s Biscayne Beach Condominium Sells $8.6 Million Penthouse Residence

MIAMI, FL – September 10, 2015 – Developers of Miami’s Biscayne Beach condominium are reporting one of the – if not the – most expensive preconstruction units sold in the East Edgewater neighborhood. A penthouse at the 52-story ultra-luxury waterfront tower, located at 711 NE 29th Street, just sold for $8.6 million. All told, more than 20% of the nearly sold-out project’s 399 units have sold for over $1 million. Construction of Biscayne Beach is currently underway, with completion slated for late 2016.

One of only three penthouses left for sale, the $8.6 million unit is two stories and spans 11,884 square feet. The expansive residence includes six bedrooms, a study, and 8.5 bathrooms. Standout features include a 4,577-square-foot private rooftop terrace complete with a swimming pool and outdoor summer kitchen, a wine cellar, 12- to 14-foot ceilings, a spacious master bedroom with a separate sitting area, oversized terraces with direct water views, upper and lower living rooms, formal and informal dining rooms, and a sauna in the master bathroom.

Kinga Konsorska of Cervera Real Estate represented the developer of Biscayne Beach, Eastview Development, in the sale, while Attila Yilriz of Keller Williams Miami Beach represented the buyer.

“To my knowledge, this is the largest preconstruction condo sold in East Edgewater,” said Biscayne Beach Sales Director Jerry Sanchez of Cervera Real Estate, the project’s exclusive sales and marketing brokerage. “Miami is still a value compared to the rest of the world’s top markets, and East Edgewater is rapidly emerging as a trendy urban location for young professionals and investors who see the long-term potential of the neighborhood.”

Boasting a premier, waterfront location along Biscayne Bay, Biscayne Beach’s resort-style amenities will include a private members-only Beach Club with an elevated sandy beach, private cabanas, zero-entry pool, daytime concierge services, as well as a renowned restaurant and bar. All of these features will be set against the backdrop of sweeping bay views and a public bay walk providing access to the water – complete with bay-side piers for swimming, kayaking, paddle boarding, and more.

World-renowned interior design star Thom Filicia – famously known for his role on the Emmy Award-winning show Queer Eye for the Straight Guy – is creating the sophisticated ‘beach chic’ designs for the project’s common area amenity spaces, Beach Club level, and select residences.

Biscayne Beach is being developed by a joint venture between South Florida-based real estate development firm Eastview Development and GTIS Partners, a global real estate investment firm headquartered in New York with approximately $3.1 billion in assets under management throughout the U.S. and Brazil.