Real Estate
Miami ‘Condo King’ Scores $150 Million for Two Penthouses
- Wealthy residents moving to Miami are pushing up prices
- Related Group’s Jorge Perez sees scarcity issues at play
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Related Group has sold two penthouses on the exclusive Fisher Island enclave in Miami for more than $150 million, a sign that the eye-popping valuations driven by newcomers to the city are set to rage on.
The properties, which are under construction on the island just south of Miami Beach and east of downtown, won’t close until they’re handed over to the owners, but would represent two of the most expensive condos sold in the metro area. A spokesman for Related declined to provide details on how much each penthouse cost or who bought them.