10A Faena LLC Acquires Condo At 3315 Collins Avenue Miami Beach From Ashok Khubani For $20M

A condo at Faena House located at 3315 Collins Avenue in Miami Beach has been sold for a price of $20 million. The property spans 4,381 square feet and is priced at $4,565 per square foot. This unit, known as Unit 10-A, previously sold for $18.5 million in 2015 and has been used primarily for rental purposes prior to this sale, highlighting the limited turnover in the ultra-luxury Miami Beach condo market.

Summary of transaction details:

• Property Type: Condo
• Transaction Amount: $20,000,000
• Buyer: 10A Faena LLC
• Seller: Ashok Khubani - Ontel Products
• Broker: Nicole Gary - Keller Williams Realty
• Square Footage: 4,381
• Price Per Square Foot: $4,565

This transaction was facilitated by Nicole Gary of Keller Williams Realty, representing the buyer, 10A Faena LLC. The seller, Ashok Khubani, is associated with Ontel Products, and the deal reflects a continuing interest in the ultra-luxury segment of the Miami Beach real estate market.