Grammy award nominee’s Miami Beach condo sold for $4.3 million
The English rapper Craig David is trading Miami for London.
David, the two-time Grammy Award nominee who shot to fame in the late ‘90s, sold his rooftop penthouse at the Mondrian South Beach for $4.3 million on Monday, after listing the 1,895-square-foot unit in late July for $5.75 million. David bought the two-bedroom, two-bathroom condo — complete with a recording studio — during pre-sales in 2009 for $4.6 million, or about $2,427 per square foot, after the 1964 building was gutted.
The property’s downtown views and location at 1100 West Ave. were the primary selling points, said Alexander Goldstein, broker and owner of the Aventura-based luxury real estate firm Miles Goldstein Real Estate. Goldstein has represented other celebrity listings, including that of singer Jason Derulo in Fort Lauderdale and baseball player Sammy Sosa’s Golden Beach mansion. Goldstein represented David; the undisclosed buyer was represented by One Sotheby’s International Realty Realtor Ashton Coleman.
Though David took a hit, “in this market in square footage, regardless of what he paid 10 years ago, he felt that was a fair price,” said Goldstein.
David’s unit brought a higher price per square foot, $2,269, than the October sale of a 2,250-square-foot unit in the 2015 Faena House, which went for $2,044 per square foot. That proves buyers are still willing to spend millions on existing units, said Goldstein.
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“There are buyers willing to pay for unique condos,” Goldstein said.
The buyer loved the style of the unit, the views of downtown and the building’s location in Miami Beach, said Coleman — plus entertainment equipment and electrical upgrades worth almost $1 million.“It’s a trophy penthouse.”
As for David, he’s looking to live full time in his homeland, and plans on recording new music from his London pad, according to Goldstein.
