Officials say $25 million condo sale sets record

Posted by www.miamiforrussian.com

Officials say $25 million condo sale sets record

MIAMI BEACH, Fla. (AP) – May 25, 2012 – The Miami Herald reports a three-story penthouse with views of the Atlantic Ocean and the city of Miami has sold for a record $25 million.

The newspaper reports the five-bedroom condo with a private pool at 100 South Pointe Drive in South Beach recently sold to a buyer who plans to “rip everything out” and spend $2 million to finish it.

Officials say the price breaks the previous record set in January when a Miami Beach penthouse sold for $21.5 million.

The South Beach condo last sold in May 2009 for $9.9 million.

Julian Johnston represented the owner and signed an agreement not to reveal the name. Johnston says the condo was not even listed when the buyer asked to see it.

Information from: The Miami Herald, http://www.herald.com
Copyright 2012 The Associated Press.