Another penthouse at One Thousand Museum sold for $11M
Tax flight drove several buyers from the northeast to South Florida prior to the pandemic. Now, the pandemic may be drawing new out-of-state residents.
An undisclosed buyer from New York City bought an 11,544-square-foot unit for $11 million at the 62-story One Thousand Museum on Friday, said Karen Elmir, luxury real estate adviser with the Brickell-based Elmir Group, a Cevera Group brokerage firm. The penthouse unit 5301, covers the entire floor, and offers five bedrooms and six-and-a-half bathrooms. The residential tower at 1000 Biscayne Blvd. will be the buyer’s primary residence, Elmir said.
Elmir represented the buyer and Harvey Daniels, a real estate agent with One Sotheby’s International Realty, represented the developer.
“The buyer realized that because of the quarantine they wanted to be in a warmer environment,” Elmir said.
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The buyer toured the home prior to the pandemic and again through a virtual tour. He closed on the unit for its location, space and appreciation for Zaha Hadid’s design. The late architect was the first woman to win the Pritzker prize.
The unit went under contract two weeks ago, Elmir said, after the buyer offered to pay in cash for the penthouse. The unit was listed for $16 million. but closed after a 31% price reduction.
“The luxury market is doing well. Wealthy buyers are taking advantage of the market for price negotiations,” she said.
The unit sold below a recent comparable sale. The New York buyer dropped about $952 per square foot — well below the $1,810 per square foot price soccer star David Beckham paid for his 11,046-square-foot penthouse in One Thousand Museum in late March.
The luxury condo market may see some price negotiations between sellers and buyers, but sales will continue to close in the coming months, Elmir said. The recent unit sales at residential towers Aston Martin Residences, Missoni Baia and Ritz-Carlton Residences in Sunny Isles Beach are a positive sign, she said.
Her sale and others, Elmir said, will have buyers, “thinking there are deals to be made.”
This story was originally published May 18, 2020 at 7:00 AM.
