Billionaire developer Richard LeFrak sold an investment property this month. The New York-based real-estate mogul found the right buyer for the Miami Beach condo: remixer and record producer David Guetta is apparently enthusiastic about the potential of the Setai with oceanfront exposure. Views of the Miami cityscape are also on display.
The unit extends to a bit more than 2,500 square feet, with three bedrooms and three baths. The design sensibility is contemporary, with an off-white treatment contrasting with the blue of the Atlantic; the feel is ethereal, sea-meets-sky stuff. The apartment is situated on the 37th floor of the 40-story building, and the top-floor location augments the illusion nicely; in addition, blue and green accents embellish and drive the point home. Pastels, glass, and eagle-eye views of the ocean. This is a luxury condo in the Miami Beach sky.
The unit’s layout is dual-suite, making it an ideal space for entertaining guests. The layout feature also makes it ideal as an upscale rental, and the unit is already offered for short-term lease options at $30K per month.
The Setai Residences building offers a long list of amenities, including three pools with cabanas and sundecks, a resort beach area with full restaurant and bar service, landscaped gardens and palms, and a matched set: a five-star restaurant and its corollary, a fitness center.
Richard LeFrak is Chairman and CEO of LeFrak, a privately held real estate firm. His net worth was estimated at $6.5 billion in 2015.
