Setai condo sells for $7.2 million, almost $3,000 per square foot

A 2,521-square-foot condominium at the Setai South Beach has sold for $7.2 million, according to Esslinger Wooten Maxwell. The sale worked out to an average price of $2,856 per square foot, one of the highest average prices yet for a Setai unit. Last year, the Setai saw one of the largest condo sales in Miami of all time, when a penthouse unit sold for $21.5 million. “Sales in the Setai have been outstanding — a reflection of what’s happening across South Florida in terms of high-end residential real estate transactions,” said EWM’s Lourdes Gutierrez, who represented the buyer in the deal. EWM is the exclusive affiliate of Christie’s International Real Estate in Miami-Dade and Broward counties. — Alexander Britell

A 5,803-square-foot penthouse unit at the Setai South Beach has closed a
$21.5 million sale. The home, which was first purchased by Netscape
founder Jim Clark in 2004 for $9 million, was sold to a private
businessperson. The previous high sale at the Setai was a lower
penthouse that sold for $15 million last year. The deal was brokered by
One Sotheby’s International Realty agent Eloy Carmenate. “Miami is emerging as a super luxury market,” said One Sotheby’s
President Beth Butler. “This marks the fourth sale this year in excess
of $20 million and is a new high for a condo sale.”