Condo Closes at Record $24.6 Million

A combination of condo units at the St. Regis Bal Harbour condominium development in Miami Beach, Florida has sold to set a record $24.6-million sales prices. It’s the largest St. Regis Bal Harbou transaction to close at the luxury development, which opened just this last January and the second largest deal in Miami history.

Considered as one-unit, the deal ranks only second to the $25-million condo purchase made by an Italian buyer in South Beach last May. The purchase was brokered by Senada Adzem, who is director of Douglas Elliman’s Luxury Division. Adzem was previously associated with the Corcoran Group, and the former vice president of Trump International.

“The record transaction is part of the region’s emerging trend of redefining the housing market through high end real estate,” said Jonathan Miller, CEO of Miller Samuel, a real estate consulting firm.

This sale is a combination of five units, with 16,430 square feet under air-conditioning and 21,176 total square feet. The St. Regis Bal Harbour Resort sits on 9.5 acres of beachfront property, opposite the world-renowned Bal Harbour Shops, and has established itself as one of South Florida’s premier residential addresses attracting high-net worth individuals.

Each luxury condo unit has been designed to give owners the most impressive modern space imaginable. First class amenities include concierge, around the clock in-room dining service, personal chef, housekeeping, childcare, pet care, shopping and transportation.