A very unique investment opportunity has just become available on the Miami real estate market, and it can be all yours for only $25 million. According to a recent article from The Real Deal, an entire floor at the St. Regis Bal Harbour is up for grabs, stretching over 13,000 square feet. Unit 1701 is the 17th floor of the south tower, and it’s about the same size as four of the building’s penthouses put together. And if that weren’t enough, the unit is being offered “raw,” or “developer ready,” meaning it’s completely untouched and waiting for a buyer to put their own spin on it.
The unit has sat untouched since the building was constructed in 2011. According to Miami-Dade County property records, the owner is listed as a Monaco-based company who paid $13.5 million for the unit in 2012. It is assumed that the owner likely had plans to break it up into several smaller units, but for some unknown reason, never developed the space.
During this cycle of Miami real estate, the concept of the mega-condo, or a unit that is the size of a traditional home, has really been trending. Investors are also seeking second or third homes that have a residential feel, but that feature five-star hotel services. That is exactly what is being offered here: a unique, personalized property that offers all the luxurious amenities one could wish for. It is truly a one-of-a-kind investment opportunity.