In the spring of 2018, investor Cliff Asness purchased the crown jewel in the Miami Beach mid-rise development 321 Ocean. Asness signed on the line at $26 million for the penthouse unit before turning it back around and listing it about eighteen months later with a $29.5 million ask. The residence closed at $22 million at the tail end of last month.

The building was completed in 2015. It is located in the South of Fifth area, and contains 21 residences in its towers. Its amenities include an infinity-edge pool overlooking the beach, a lounge with a library, and a fitness center.

The penthouse unit measures 6,800 square feet. Features of this home’s interiors include wide-plank hardwood floors, built-in shelving, plentiful glass, back-lit ceilings, a muted color scheme, and a common area with a loft-like layout. The extended marble waterfall bar in the kitchen—in several sections—sets a socially active living style; this residence is set up for gatherings.

There are five bedrooms and seven baths in all in this unit. The master suite is an extravagantly large space with separate sitting room. Views of the beach are extraordinary and panoramic; this unit occupies the ninth floor of 321 Ocean, a good position for capturing the landscape and the life going on below.

Asness is co-founder of AQR Capital Management, an investment firm with some $140 billion in assets under management. His net worth is north of $2 billion.