5701 Biscayne LLC Acquires Penthouse In Downtown Miami For $13.8M

A penthouse located at 1000 Biscayne Blvd in Downtown Miami has been sold for $13,800,000. The property, spanning 9,910 square feet, was purchased by 5701 Biscayne LLC from ZH Holdings Group LLC. The sale was facilitated by the seller's representatives, Oren Alexander and Isaac Lustgarten from Douglas Elliman, and the buyer's representative, Dina Goldentayer, also from Douglas Elliman. This transaction took place on March 23, 2020.

Summary of transaction details

• Property Type: Penthouse
• Transaction Amount: $13,800,000
• Address: 1000 Biscayne Blvd
• Market: Downtown Miami
• Square Footage: 9,910
• Price Per Square Foot: $1,393
• Buyer: 5701 Biscayne LLC
• Seller: ZH Holdings Group LLC
• Seller's Representative: Oren Alexander and Isaac Lustgarten - Douglas Elliman
• Buyer's Representative: Dina Goldentayer - Douglas Elliman

"We reduced the price to what we felt was truly market price. Once we reduced it to market, we had a bidding war instantly. It shows you the issue in Miami is not demand but just unrealistic sellers and their brokers willing to take overpriced listings," shared Oren Alexander, one of the seller's representatives.