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.

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Anonymous
5 years ago

Have a feeling that’s just the start of record breaking in Edgewater.

Edgwater Rise
5 years ago

I purchased a PH in Paraiso 2 months ago before they broke ground. I was in town only for a few days and my goal was to get a condo as an investment but also a place to stay because I love Miami so much. I went to see several locations and the best bang for the buck and the reality of growth was so evident in Edgewater.

Where are you going to be next to the bay, so close to downtown, 10 minutes from the airport, 15 minutes to Miami/Beach or South beach, the design district, and easy access to the freeways to go north or south. This PH is $1100 per square foot, I paid half this for my PH.

Don’t mock others, just look at what is happening in Edgewater, Miami is headed to become the most premiere destination in the world. Everyone wants a piece of it (Latin America, Europeans, Russians, Canadians, New Yorkers, the list goes on and on).. and that is only going to make this a world city, and I’m telling you invest if you have cash in Edgewater, it’s still not to late…..

Anonymous
5 years ago

But, but…there is a Burger King in the area, how can you reconcile that?!!!!

caspar
5 years ago

there goes the neighborhood. You may as well sell out or buy in before it’s as congested and unbearable as Brickell.

Anonymous
5 years ago

The burbs are calling. It’s for you

Anonymous
5 years ago

You will still need a car in Edgewater. There is nothing in this hood that you can walk to. Nothing. You might as well be in Kendall and pocket the other 8 million.

Danny
5 years ago

Give it a little time and this will be a deal with Mid-Town, Wynwood, and Design District near by.

Anonymous
5 years ago
Yet Another Anonymous
5 years ago

Walkscore is a pretty loose estimate for judging an area. It shouldn’t be taken too seriously but with a score in the upper quartile it’s usually a good sign.

Anonymous
5 years ago

Name three places anyone would need or want to visit from this address. And the three parks mentioned are def NOT within walking distance.

Anonymous
5 years ago

Rincon Escondido, limon & sabor and la providence. Things like salsa fiesta and Starbucks are chains, but would be gold in Kendall. And I have no idea how fat or lazy you are, but Margaret pace, along with things like city hall and the daily, are certainly walkable, as are Midtown and Wynwood. Design District is apparently out of heels range, but also walkable. Plus do you really believe this area won’t develop more? At the very least, the paraiso beach club and tutto ii giorno are pretty good options. So much sour grapes

Anonymous
5 years ago

Yeah yeah and Out of The Closet is only one block away where u can get free HIV testing and the Western Union store where u can send money to your relatives back in the old country and also cash your check and oh yea u gots a PAPa Johns pizza up the street and that liquor store around the block and a not one but two half way rehabilitation houses. But I hear they lock them up at night. All for $8.6 million………

Anonymous
5 years ago

Yeah yeah and I hear neighborhoods never change. Hey, let’s also mock anyone buying in Worldcenter or the idiots at Thousand Museum…

Anonymous
5 years ago

Half mile from sugarcane and restaurant row (with some backtracking). That’s roughly five blocks…

Ps enriquetas (two blocks away) seems pretty popular, and Morgan’s is four blocks.

Design district is roughly seven blocks away.

Wynwood walls are nine blocks.

Margaret pace is 11 blocks.

Not sure how you walk anywhere with no ground to stand on

Edgewater Local
5 years ago

I live at Platinum right behind this building and walk everywhere (don’t own a car, bike to work in Miami Shores). Plenty of good restaurants nearby, Walgreens is 2-3 mintues (super handy), Midtown is 5-10, Design/Wynwood is 10-15. Plus Car2Go everywhere, CitiBike, and trolley / multiple frequent buses on Biscayne and NE 2nd. No worse than Omni/Margaret Pace Park area, possibly better IMO. Oh, and a new 24/7 diner is opening at 30th and Biscayne…for the win!

PS> No one paying that much for a penthouse is going to walk anywhere anyway so really this entire conversation is irrelevant.

Anonymous
5 years ago

You are exactly correct….but be aware of this, that anonymous commenter who complained about still needing a car if you live in Edgewater, is probably one of those same naysayers about the views from the under construction Paramount tower. Everything has to be exactly the way they want it to be, RIGHT NOW!

Marc305
5 years ago

Your comment is very short sighted. Edgewater is one of the fastest growing areas in Miami and it is right between Midtown and Downtown. There are already a number of places you can walk to and many more to come. The best part of this location is that with a car you can be in Midtown, Brickell, and South Beach within minutes, which is probably one of the reasons why someone paid 8.6 million for this Penthouse.

Anonymous
5 years ago

I generally figure when someone can drop this kind of money, they might know a thing or two about a thing or two.

Anonymous
5 years ago

Real intelligent comment
Like the rest of Miami has transit
Edgewater is easy access to all good stuff in miami