The Penthouse at Continuum South Beach, located at 100 S. Pointe Drive, once listed for $25M has sold for $9.9M.
Penthouse 1 at Continuum was owned by Howard and Lillian Steinberg. The penthouse, purchased in 2003 for $7M, has five bedrooms, 7.5 bathrooms, 7,374 interior sf, double-height ceilings in living area, and a roof-top pool.
No word yet on the identity new owner. I can’t believe that I don’t know.
Check out the pics here
Miami Beach Real Estate: Is It That Bad?
Though the sale price seems shockingly low, this real estate should have NEVER been listed at $25M, I knew it, and the owner knew it, too. I’d guesstimate that at the peak of the market this property could have fetched between $13-$15M. All in all $1342 psf isn’t that bad.
UPDATE: Alex Birkenstock, an New York hedge fund guy, is the proud new owner.
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