Photo Credit: Craig Denis
In Market

Miami Condo Market Flourishes; New Orleans Condo Sets Record

Jan 22, 2021 | By: LX Collection

Miami Condo Market Starts 2021 With a Bang

Wealthy out-of-towners have turned their attention to South Florida’s luxury condo market as single-family home inventory dries up, The Real Deal reports. Condo sales in the fourth quarter of 2020 in Miami-Dade County were up by more than 30% compared to the same period last year, according to the Keyes Luxury South Florida market report, signaling a market ignited by pandemic-inspired lifestyle changes. Last week alone, 139 condos sold in the area.

Among the buildings reaping the benefits of the boom are Zaha Hadid’s One Thousand Museum in downtown Miami, where, in January, a penthouse sold for $16 million and a 47th-floor condo traded for $6.3 million. Another winner was Antonio Citterio’s Arte Surfside, which just announced the closing of $26 million in sales mere weeks after the $33 million cash sale of its penthouse to a New York private equity executive. Giovanni Fasciano, co-developer of Arte Surfside, told The Real Deal that buyers are “realizing the convenience of living in a luxe building.”

Formerly Asking $15 Million, Miami Four Seasons Penthouse Will Be Auctioned

The nearly 6,000-square-foot penthouse of the Four Seasons Private Residences in Miami will be auctioned off on Jan. 29 through Platinum Luxury Auctions. Formerly listed for $15 million, the property will be sold without reserve to the highest bidder. The residence is one of the highest penthouses in Miami, perched on the building’s 70th story, and boasts 270 degree city and ocean views. The three-bedroom, three-and-a-half-bathroom spread features two terraces, a deluxe Snaidero kitchen with Miele appliances, a handcrafted floating onyx bar, and a grand primary suite with a spa-like bathroom that highlights a central glass-enclosed shower. More than $1 million has been invested in custom millwork throughout the penthouse, including window frames that highlight the property’s views. The penthouse is also being sold with six passes to Equinox that are usable at the fitness studio nationwide, including the branch on the property. Prospective bidders can register for the auction through the Platinum Luxury Auctions website.

New Orleans Condo Market Reaches New Heights With $13 Million Penthouse Sale

The sale of the Four Seasons New Orleans Hotel and Private Residences penthouse for just under $13 million has created a new record for priciest condo in the city, Mansion Global reports. The buyer is Donald T. “Boysie” Bollinger, former CEO of Bollinger Shipyards. The penthouse sits atop the Central Business District’s famous cross-shaped tower designed by Edward Durrell Stone and constructed in 1967. The 4,000-square-foot residence occupies the building’s 30th floor, formerly home to the Plimsoll Club, and overlooks the Bollinger Shipyard across the river. The distinctive building, which has stood largely unoccupied along the New Orleans riverfront since Hurricane Katrina in 2005, is slated to open under the Four Seasons banner this spring. 

Sundance Film Festival Welcomes Streamers in 2021

The Sundance Film Festival, held annually in Park City, Utah, will welcome streamers this year alongside its in-person attendees as a response to the coronavirus pandemic. Viewers can participate in events virtually throughout the festival, which will take place from Jan. 28 to Feb. 3. In order to provide an immersive experience that includes discussions after viewings, screenings will have attendance caps and require advance reservations. Tickets for the virtual event start at $15 for a single film ticket and top out at $350 for an all-inclusive festival pass that includes interactive waiting rooms and Q&As with film crews and casts. Tickets can be purchased on the Sundance Film Festival website.

Music Mogul Buys at New York’s 108 Leonard

The New York Post reports that American record producer and music industry executive Clive Davis is the newest celebrity owner at 108 Leonard Street, the luxury Tribeca condo nestled inside the landmarked former New York Life Insurance building designed by McKim, Mead and White. Davis purchased a $4.59 million three-bedroom, three-and a-half-bathroom residence spanning nearly 2,500 square feet. Actress Nicole Kidman and country singer Keith Urban also own a residence in the building. The residences’ interiors were designed by Jeffrey Beers and feature wide-plank chevron oak floors and ceiling heights starting at 10 feet. The property also offers a subterranean motor court that allows for a more discreet entrance to the building.