Miami Condo Market and Lifestyle Updates
Five Condo Units Combined into One Mega Unit Sold for $16.1 Million at the Setai

Five Condo Units Combined into One Mega Unit Sold for $16.1 Million at the Setai

by Sep Niakan | May 20, 2015

Five condos that were combined into one at the Setai in Miami Beach traded hands for $16.1 million.

This unusual condo was created by slowly combining five smaller condos into one over eight years. The unit is now 5,400 square-feet and encompasses the east side of Setai’s 33rd floor, and most of the north and south sides as well. Each unit had one bedroom and one bathroom in their original form.

Becky Adkins, the listing agent for the unit, said that the seller is a Russian family that started their home-building project with only two condo units. As the family got bigger, they needed more space. The family asked about more units on the same floor, then began convincing the people next door to sell them their units.

Since the Setai did not allow for construction during winter, the project took longer than it normally would have. Each new unit needed to be built all over again in order to be connected to the others.

The last two additions, which were on the northern side of the Setai, became a recreation room, which included billiards, a wine cellar, a spa, a sauna, and a massage room.

 

Source: therealdeal.com

Photo credit: Setai - wikipedia.org

Recent posts

Opinions and Advice

Miami Pre-Construction Frequently Asked Questions

by Sep Niakan | May 22, 2017

How much is the fee to have a knowledgeable and licensed Miami real estate broker help me select the right property? How much of my money does developer use during construction? What are the penalties if I decide to cancel my pre-construction...

Opinions and Advice

Comprehensive Guide to Buying a Pre-construction Property or Condo in Miami

by Sep Niakan | May 22, 2017

Why You Need to Read This Miami Pre-construction Condo Guide Miami Pre-Construction Phases How to Negotiate the Best Miami Pre-Construction Deal How to Finance Pre-Construction Property Closing Costs for Pre-Construction...

Lifestyle

Save the Date for these Stellar June Events in Miami

by Sep Niakan | May 20, 2017

With summer here, Miami turns up the heat with the hottest events lining up for the month of June. You can find a new way to spend each day, whether it's catching up on international cinema, going on a food-eating spree, or peering over the...

Real Estate News

Luxury Miami Condo Report : April 2017

by Sep Niakan | May 18, 2017

Miami Luxury Condo Report Overall Market Summary   City and Neighborhood Luxury Condo Reports   Miami Beach Luxury Condo Report South Beach Luxury Condo Report Mid-Beach Luxury Condo Report   Surfside Luxury...