Apogee South Beach Penthouse News

International Herald Tribune
Raising the Roof
September 22, 2008, 4:51 pm
Posted by Kevin Brass


A new listing for a Miami Beach penthouse should provide an interesting benchmark for the state of the Miami market. Modestly billed as “one of the most prestigious south Florida penthouses ever,” the 6,853-square-foot (636 square meter) apartment is priced at $22 million, which is a bold number for these stock-market-crashing days.

The penthouse in the Apogee tower includes six bedrooms, a pool, private elevator, staff quarters and 11,000-square-feet of terrace space, including a rooftop “palazzo,” according to a press release. The listing calls it “arguably the greatest luxury condo residence to ever ascend on the Miami real estate landscape,” and they wouldn’t exaggerate, would they?

Despite reports that prices have fallen 20 percent or more in many Florida markets, agents say the high end of the Miami market has remained strong, in large part due to foreign buyers. A $22 million price tag should test that theory. (But, hey, only 14.9 million euro!)