Jorge Perez has listed his penthouse unit at the recently completed One Ocean for $20 million, or $5,669 per square foot, according to Curbed Miami.
A press release from the developer notes that Perez purchased the 3,528-square-foot unit for $4.23 million ($1,200 psf), and is now asking nearly five times that price. “We started selling One Ocean in 2012 at $1,100 psf, which seems crazy today,” Perez said.
The release hints that you too, can follow in Mr. Perez’s savvy investing footsteps. He is now buying an 1,800 sf condo unit at Auberge Fort Lauderdale for $2.4 million, or $1,333 per foot – close to the same price that he paid for the One Ocean unit several years ago.
A broker told The Real Deal that at $20 million, the price is “not aligned with the market.” Recent sales on the same floor at One Ocean have closed at about $2,000 per square foot.