The New York Times
Richard
Meier has been an architect for half a century, and yet, thePritzker Prize winner has never
bought an apartment of his own design. Until now.
Mr. Meier, who is based in New York City,
was one of the first to buy a condominium at the Surf Club Four Seasons, his
latest project in Miami.
“I thought, well, you know,
everyone is going to Miami. This place is jumping,” said the 80-year-old
architect. “I probably should have done this before. But I designed the
building and it is great, and I figured I might as well enjoy it myself.”
Pamela Liebman, the chief
executive of the New York City-based brokerage the Corcoran Group, which is
marketing the project, also purchased a unit there. In fact, two-thirds of the
buyers are New Yorkers, said Nadim Ashi, the managing partner at Fort Capital,
the developer.
Over the years, Miami has been
referred to as the city’s sixth borough, and it would appear that in the
exclusive world of luxury real estate, this has never been truer. A wave of New
York City developers has washed onto the Florida shoreline in
recent months, bringing with them New York buyers, and increasingly, New York
City-type pricing.
Over
the past 18 months, prices have risen by 11.5 percent along the beachfront in Miami, with new
condominiums averaging $1,011 a square foot, up from $907 a square foot,
according to a December market report by the Miami brokerage firm ISG.
At the same
time, the number of units for sale has dropped by nearly 64 percent, to 623
units from 1,717 units, over the same period. There are also a number of
high-priced penthouses for sale, including several that surpass $3,000 a square
foot. The priciest is a $60 million home for sale at Faena, the development
where the Goldman Sachs chief executive Lloyd Blankfein and the Apollo Global
Management co-founder Leon Black, both New Yorkers, have reportedly bought
residences.
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