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Residential Architecture

ARTE SURFSIDE HAS OFFICIALLY SOLD OUT FOR NEARLY $225 MILLION

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Luxury Oceanfront Condominium Close on last remaining residence $17 million

MIAMI BEACH, Fla., January 25, 2023 /PRNewswire/ — Art Surfsidethe 12-story oceanfront luxury condominium at 8955 Collins Avenue, announces its near-$225 million sale following the closure of Residence 201, the last remaining listing, for $17 million in the current state. The six-bedroom home spans 6,975 square feet of interior space and 1,488 of patio space and was designed by the Italian master architect Antonio Citterio and sold unfurnished to a family, who were drawn to the water views and large living areas with two kitchens, a dedicated oceanfront entertainment level, and an ocean view master suite.

Arte succeeded in attracting the world’s most discerning luxury buyers, many from the northeastern US, and was recognized worldwide for setting impressive new sales records, including executing a cryptocurrency penthouse transaction. Approximately $3,000 per square foot, Arte achieved the highest mixed price per foot, in addition to the highest average cost per unit closed to date in any new development registered in Miami-Dade County and maybe Florida. Continue with almost $225 million in total turnover, Arte has the highest gross sales price for a new boutique project Miami.

“Arte represents a new level of ultra-luxury in miami beachsaid Alex Sapir, Chairman of Sapir Corp LTD, an Israel-and New York-based subsidiary, which developed the project. “This development has redefined all expectations for ocean life and showed the market that unprecedented prices per square meter are possible. We have set a new standard with Arte and I am proud to have such a great project led.”

“It’s exciting to see a project you’ve conceived from the beginning become a record breaker in so many categories,” said John Fasciano, co-developer of the project. “We envisioned the ultimate miami beach lifestyle with the perfect combination of just 16 residences, masterful architecture, all the amenities and services of a five-star resort, and a collection of blue-chip artwork that inspired the building’s name. Buyers have been drawn to this highly tailored, personal approach and they have now come to know us as developers who go far beyond expectations.”

Arte’s sales success is the result of the enormous demand for large homes by the sea in miami beach. Arte’s homes have expansive indoor and outdoor spaces, with square footage starting at 3,126. The two largest properties, the Penthouse and the Lower Penthouse, were both groundbreaking deals for the market, with the Penthouse being sold for $33 millionand the Lower Penthouse with selling price of $22.5 million set a record price per square meter $4,440. These two transactions serve as a benchmark for Surfside condo sales today. The achievements also underline the validity of the developers’ initial vision of Arte and prove that the building is capable of setting multiple records in real estate.

“We are delighted to be a part of this exciting project, which has brought world-class design and architecture to Surfside,” said Howard M Lorberexecutive chairman of Douglas Eliman.

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Arte’s appeal in the market was enhanced by the incredible architecture of Antonio Citterio, in collaboration with Kobi Karp Architecture and Interior Design. With a nod to the legacy of ancient landmarks like the Colosseum, the building features a memorable facade of Roman travertine, expansive sliding glass doors and a gridded bronze Schuco window system.

Owners of the 16 residences at Arte enjoy lavish lifestyles with expansive interiors and a wide array of top-notch amenities. The amenities package includes a 75-inch indoor pool, outdoor pool, rooftop tennis court, state-of-the-art fitness center and yoga studio, sauna and steam room, and a tranquil meditation pond. Additional facilities include a children’s playroom, residents’ lounge, catering kitchen for outdoor entertaining and private temperature-controlled parking.

Arte has become one of the most recognizable and celebrated residential projects in real estate. The building’s legacy has been cemented by the sale and will only strengthen and grow as buyers increasingly desire oceanfront boutique homes with a focus on privacy and exclusivity. Arte laid the groundwork for developers Alex Sapir and John Fasciano to expand globally.

Douglas Eliman had a real life partner who worked alongside Alex Sapir, John Fasciano and the entire Arte team who understood the needs of the most discerning buyers and helped us set a new bar for luxury in the miami beach and Surfside Markets,” said JayPhilip ParkerCEO of Douglas Elliman Florida and president of Douglas Elliman Development Marketing, Florida. “We look forward to future collaborations.”

Sales at Arte were handled exclusively by Douglas Elliman Development Marketing, with Miltiadis Kastanis and Dinah Goldentayer represents the seller in the Residence 201 deal. For more information, visit www.artesurfside.com.

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View original content: https://www.prnewswire.com/news-releases/arte-surfside-officially-sells-out-at-nearly-225-million-301730789.html

SOURCE Arte door Antonio Citterio