On The Market: Miami Beach, Florida

03/01/2006

LOCATION: On top of the Setai hotel in the heart of South Beach on Collins Avenue. The modern Art Deco–style building straddles the ocean to the east and Collins Avenue to the west, with access to sandy shores and some of the city’s hottest shopping and nightlife. Neighboring buildings include the Delano hotel and Casa Casuarina (the former Versace mansion).

HISTORY: The newly opened hotel features traditional hotel rooms, hotel/condo rooms, full-ownership condominiums, and Setai Club member rooms, which are by invitation only. Designed by interior designer and architect Jean-Michel Gathy and supervised by Adrian Zecha, it is the first GHM hotel in the United States. (Click images to enlarge)

STATS: On the 40th floor, with nearly 6,000 square feet of interior space and an additional 4,000 square feet of outdoor terraces that include an infinity pool, water wall, hot tub and a 360-degree view. The three-bedroom unit also has a butler’s quarters—the hotel butler was brought to the Setai from Buckingham Palace—and can be placed into the hotel’s rental pool, where the nightly rate starts at $25,000. (Click images to enlarge)
 
WHAT SETS IT APART: “It’s the only full-floor penthouse in existence in Miami, so the views are the best,” says estate agent Craig Hopen. “Also, the location along Millionaire’s Row is one of the most coveted.”

MARKET INQUIRIES: $29 million. Craig Hopen, 305.282.3700, www.dreampenthouse.com