South Beach exclusive is 5^th most expensive condo re-sale in Miami-Dade history

Miami Beach, FL (April 14, 2011) – EWM’s Esther Percal and Pablo Alfaro completed the $11.5 million sale of Apogee’s Penthouse A, the highest price paid for a condominium in Miami-Dade in almost a year. An undisclosed European concern closed on its purchase from seller, Moonlight LLC, on April 14^th.

Since tracking these types of sales, it is the 5^th highest price paid for a condo in Miami-Dade through the Multiple Listing Service (MLS).

Constructed in 2008, the 22-story, 67-residence Apogee has earned acclaim as one of South Florida’s most exclusive addresses. Located at 800 South Pointe Drive, alongside Government Cut on Miami Beach’s South Point, it features 360° panoramic views of the Atlantic Ocean, Miami’s skylines, and the Port of Miami.  There are only three Penthouse units at Apogee, all with myriad of amenities. This latest sale includes an 11,000 square foot outside terrace and rooftop pool offering awe-inspiring views of South Florida’s most spectacular landscape and architecture.

“Esther and Pablo are well-known members of the exclusive multi-million dollar property sales club in South Florida”, said Ron Shuffield, President of EWM.  “There have been only four other condominiums ever sold through our Miami-Dade MLS at prices greater than this one, and the first in almost a year.  The sale is not only a testament to the property, which is stunning, but to Esther and Pablo’s capabilities and understanding of ultra high-end buyers and sellers.”

“We have been seeing a great deal of activity in the high-end market, particularly from individuals who own multiple residences across the globe,” adds Esther Percal.  “In the big scheme of global residential real estate, Miami-Dade’s South Beach properties are still a relative bargain, even at the almost $1,700 per square foot price realized by this sale. Comparable properties in other areas of the world might cost three, four, maybe five times as much.”

“No doubt that this segment of the market has been very active of late,” says Pablo Alfaro. “The interesting thing has been the broad range of individuals we have been working with. They are coming from the U.S., Latin America, Asia, and of course, Europe, such as this particular buyer.  They recognize and appreciate that there is tremendous value in this market.”