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REAL ESTATE - COMPANY NEWS

Record sale per square foot in Miami Dade - SETAI Residences

Wednesday, June 20, 2018

Record sale at the Setai with a top music producer at Barnes Miami.

Record sale at the Setai with a top music producer at Barnes Miami.

REAL ESTATE - COMPANY NEWS

Source : Barnes International Realty

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A new record transaction (price per square foot) has been recorded on June 18th, 2018, showing once again how Miami continues to attract distinctive buyers from all over the world. The 3 bedrooms, 3 bathrooms 2,521 sq ft condo was sold for $9.5M, a $3,768 per sq ft sale the city has not seen since the Faena Penthouse in September 2015. Michael Wiesenfeld with Barnes International Realty represented the buyer: a French native widely known on the international music scene.

Located in the heart of Miami Beach, this 37th floor corner unit, facing the ocean, offers a unique panorama on the beach and skyline. It has been designed with no spared details by the previous billionaire owner. The SETAI Hotel & Residences is an iconic building, offering an unmatched level of luxury lifestyle through its 5 stars services and amenities.

The Setai allows for high-end short-term rental and extended-stays, hence attracting investor owners who can both rent and enjoy their property during the year. This dream home will be available for rental throughout the year for $10,000 to $28,000 per week, and $25,000 to $50,000 per month depending on the time of the year.

"I really showed my client everything that was on the market meeting most of his requirements… but we didn't find anything that was matching them all," says Michael Wiesenfeld, Realtor Associate at Barnes International Realty. "As a result, I had to be creative and look at off-market properties in order to meet my client needs. This one was love at first sight." Although the transaction is a record sale, it is in line with recent transactions for this type of trophy properties.