Real Estate Blog

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Tags:  Miami Beach Condos, Il Villaggio, Penthouses



Miami Beach Condo Sold After 54% Price Cut

What does it take to sell a multimillion dollar condominium in Miami Beach today? A 54% drop from the 2006 listing price, a recent sale suggests.

Last week, Al Berg -- who recently sold the company he co-founded, eyewear manufacturer Marchon -- paid $8.6 million for an oceanfront penthouse originally listed for $18.5 million in 2006. Brands manufactured by Marchon, bought last year by VSP Vision Care, include Calvin Klein and Fendi. Former radio executive Scott K. Ginsburg sold the 5,700-square-foot condo, which he'd bought for $2.9 million pre-construction. (That excludes what he paid to finish it.)

There's a 4,600-square-foot rooftop terrace with a private pool, and an outdoor kitchen. The apartment is in the Il Villaggio building, where producer Jerry Bruckheimer also has a unit. Nelson Gonzalez, of Esslinger Wooten Maxwell, had the listing.

Mr. Berg lives in New York state with his wife, Gayle, a psychologist, and will use the condo as a second home.

WALL STREET JOURNAL / PRIVATE PROPERTIES / FEBRUARY 20, 2009



 

Tags:  Il Villaggio, Miami Beach Condos, Penthouses, Blog



Flowers Just Won’t Cut It This Year, one New Yorker is stepping it up with a Miami Beach penthouse. Founder and CEO of Marchon Eyewear, Alfred Berg is surprising his wife this Valentine’s Day by purchasing Penthouse 6/7 in South Beach’s luxurious oceanfront condominium, Il Villaggio, located at 1455 Ocean Drive.

Seller, Scott K. Ginsburg purchased the direct oceanfront luxury condo pre construction in 1999 for $2.9M. He spent three and half years building out the 5,700 SF of raw interior space as well as the 4,600 SF private roof top terrace. A longstanding figure in the media industry, Mr. Ginsburg was the founder of Evergreen Media Corporation in 1988, co-founder of Statewide Broadcasting, Inc. and former CEO of Chancellor Communications, now a part of Clear Channel Communications.

This elegant penthouse offers sweeping direct ocean views from all rooms, wrap around balcony and spacious roof top terrace. Elegant yet opulent appointments are found throughout the unit including a custom designed circular bed in the master suite, Lalique chandeliers, coffered ceilings, crystal sinks, surround sound and gourmet kitchen. And that’s just inside, the outdoor space takes entertaining to another level with a complete stainless steel summer kitchen, heated ozone pool, shower, spa, stereo system and king size bed.

Located on the northeast corner of the building, this extraordinary penthouse property was originally listed for sale in 2006 for $18.5M. I took the listing three and half months ago for $13.9M. Mr. Berg closed on the property today for $8.58M. This deal is indicative of today’s luxury real estate market, a buyer’s paradise.

Located in the heart of Miami Beach’s Art Deco District, Il Villaggio is one of South Beach’s premier luxury condos. This full service property offers 24-hour security and valet, concierge, pool and private beach lounges with attendants, two-story fitness center, sauna, oceanfront promenade and community room. Other residents in Miami Beach’s Il Villaggio include: Hollywood filmmaker, Jerry Bruckheimer; CSI: Miami star, David Caruso; Bill Roedy, President of MTV Networks International; and Victoria Secret’s, Ed Resnick.



 

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