Pavilion from the Ocean

Pavilion from the Ocean

Welcome to

This forum, by owners for owners, provides useful information for owners to view and discuss.

This blog does not belong nor represents the views of the Pavilon Condo Association

You can subscribe to the blog by entering your email on the upper hand side on the blog. You will then receive an email with a link that you must click on to complete the subscription. Then every time the blog is updated you will receive an email message.

A London family just agreed to rent a Miami Beach condo for $70k a month

You could put a down payment on a house in Coral Gables with the $70,000 that a London family agreed to pay in monthly rent for a 4,730-square foot Miami Beach condo.

The family, whose names aren’t being revealed, signed a seven-month lease for the four-bedroom, six-bathroom unit on the tenth floor of Faena House in Mid Beach. The apartment comes fully furnished with private butler service, ocean views and walk-in closets.

“This rental ... is a testament to how strong the market still is,” said Tony Rodriguez-Tellaheche, a broker at Prestige Realty Group, which represented the renters. The eye-popping monthly rent is the highest for a condo in Miami-Dade County so far this year, according to Prestige.

Landlord Ashok Khubani, who owns a leading “As Seen on TV” gadget manufacturer called OnTel Products, paid $18.5 million for the condo last year, property records show. Kayce Driscoll of Douglas Elliman represented Khubani.

Faena House made headlines last year when a hedge fund billionaire paid $60 million for a duplex there, smashing the record for a residential real estate transaction in Miami-Dade.

No comments: