Miami has many gorgeous, luxury homes that sell for millions of dollars, but some of the properties in the area are a cut above the others. They are highly sought after, but only those who have vast amounts of wealth can afford them. Take the wealthy tycoon from Paraguay who recently purchased a unit in Oceana Bal Harbour for a cool $14.8 million.
What Does $14.8 Million Buy
The building is located at 10201 Collins Avenue, making it one of the most ideally suited waterfront properties in the area. The building is 28 stories high and it features 240 condos. The available (2001/2002) has 7,460 square feet of space that includes staff quarters, as well as six and a half bathrooms and five bedrooms. Naturally, it also happens to have some impressive views.
The buyer’s representatives said that the buyer already owns a condo in the area, at the St. Regis in Bal Harbour, but he wanted to have a larger unit that was on the waterfront. He has put his St. Regis property onto the market for $8.75 million. The new unit will be close to three times the size of the old unit.
Oceana Bal Harbour Is a Popular Location
This luxury building is one of the most popular places to buy in the area right now. It is a relatively new building, and it has some impressive square footage for the units. The building has a $1.3 billion sellout. If all the units were to sell, it would be a record for South Florida. Things are on track to do very well for this building. They have already sold 137 units, and it only opened in November of 2016.
Oceana Bal Harbour features four upper penthouses, as well as the other units. Two of these were sold for $26 million. The interiors of the building are beautiful, and it offers a private restaurant, pool, and a host of other amenities. With all of the great features that the building offers, it is no wonder that it continues to attract so many wealthy buyers.
Who Is the Buyer?
Records show that the buyer is Jorge A. Riquelme, a business owner from Paraguay. He owns supermarkets, a pasta manufacturing company, a bottling business, a beer company, and more. When he bought the unit at the St. Regis in 2012, he paid $5 million for it. If it sells for his asking price, he will have made quite a profit. He is certainly not the only wealthy foreign buyer in the area. Many buyers from other parts of the world look at Miami as a perfect place to invest in property whether they want to live there or merely vacation there.
If you have the desire to live in absolute luxury, buildings in Miami have plenty to offer, including the Oceana Bal Harbour. They still have units available, as well, so you may want to start looking to see what your options might be.
Resource: provided by client https://therealdeal.com/miami/2017/02/27/paraguayan-tycoon-pays-14-8m-for-oceana-bal-harbour-unit/