Faena House Penthouse Still For Sale Some 4 Years After Originally Listed In Miami Beach

Penthouse A is listed for $33 million, down from the original asking price of $37 million back in 2020.

Luxury condos are said to be in great demand in Miami Beach yet Penthouse A - also known as unit 15A - in the Faena House project is still for sale some four years after originally hitting the market.

The listing agents marketing this Faena House penthouse have changed over the years but the property still has not traded since it was first listed for resale in March 2020 for $37 million, according to an analysis of the Southeast Florida MLX Matrix.

The current asking price for this oceanfront unit is $33 million for the “six bedroom” unit with “6,400 square feet,” according to the listing posted on Zillow.com.

It is worth noting, the Miami-Dade Property Appraiser’s website states that the unit is actually smaller, featuring four bedrooms and 5,978 square feet of livable space, according to government records.

The CondoVultures.com policy is to rely exclusively on government records when there is a discrepancy with alternative websites that market condo information in South Florida.

When using the government’s 5,978 square feet of living space total, Penthouse A in the Faena House has an asking price of about $5,520 per square foot, according to the records.

Back in 2020 when Penthouse A was first listed, the original asking price of $37 million worked out to about $6,189 per square foot, according to the stats.

For context, 15 condo resales have traded in Miami Beach for at least $4,000 per square since 2013, according to a recent CondoVultures.com report.