Mario Garnero gets Beach House 8 unit for $14M
Brazilian entrepreneur helps luxury Miami Beach condo sell out in five months.
The developers of Beach House 8 say the luxury Miami Beach condo project is sold out, with Brazilian entrepreneur Mario Garnero plunking down $14 million for the duplex penthouse.
A spokesperson for Valerio Morabito’s New York-based development firm, which is partnering with Ugo Colombo’s CMC Group on Beach House 8, announced on Wednesday that the 10-story glass building’s eight units were presold within five months of launching sales. Four of the units – including Garnero’s penthouse – sold within a two-week span. Contractor Plaza Construction broke ground on the 3651 Collins Avenue project last week.
Morabito and CMC plan to finish Beach House in August 2015.
“Our buyers were looking for intimate living with a level of privacy and exclusivity only attainable in a boutique building,” Morabito said in a written statement. “Beach House 8 stands out as the only boutique residential building in the area offering luxury living.”
Residences at Beach House were priced from $5.9 million to $14 million and range from 3,783 to 5,200 square feet of interior space. Garnero’s duplex penthouse has more than 6,000 square feet of outdoor living space and a private pool. One Sotheby’s International Realty is handling sales for the project. — Eric Kalis