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$12.9M Penthouse Foreclosure at Santa Maria Hits the Market

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Santa Maria Penthouse Foreclosure

Earlier this afternoon, a penthouse foreclosure at Santa Maria came onto the market with an asking price of $12.9M.  It’s a two story condo with 10,000 square feet of interior and has a rooftop terrace with a large hot tub.

Update: As I was writing this blog post, I received word that the penthouse has already gone under contract.  Word is that the accepted offer price was $11M.  Geez, that was fast!

9 thoughts on “$12.9M Penthouse Foreclosure at Santa Maria Hits the Market

  1. Smells fishy. I haven’t exactly noticed bidding wars for other penthouses around Miami. Others have been on the market for 2 or 3 years.

  2. Man I just don’t get it. For $11M I’d buy a sick house on the water. Shit, I’d spend half that and also buy a yacht to park outside of my sick house on the water. Then I’d save the rest to blow on fuel and high class escorts.

    I guess I should assume that whoever bought this place already has of the aforementioned already.

  3. wish i could live there! properties like these have absolutely no bearing on the condo market in south florida-they exist in their own little universe. 10,000 sq ft and rooftop terrace? you must be kidding. this is a one of a kind property. in this building you are competing with the nice sofi units.

  4. Florida unemployment falls for first time in four years
    South Florida Business Journal

    For the first time since February 2006, Florida’s seasonally adjusted unemployment rate has fallen. April unemployment slipped to 12 percent from March’s revised rate of 12.3 percent.

    This represents 1,113,000 jobless out of a labor force of 9,282,000, according to the Florida Agency for Workforce Innovation.

    “While we recognize that it will take time to emerge from this recession, this decrease in the unemployment rate for the first time in four years coupled with a significant increase in jobs nationally and growth here in Florida are very positive signs,” agency Director Cynthia R. Lorenzo said in a news release.
    In Palm Beach County the unemployment rate fell to 11.4 percent from 12.2 percent a month earlier. The rate in Broward County fell to 9.9 percent in April from 10.6 percent in March. In Miami-Dade, it fell to 11.3 percent from 12 percent.
    The county rates are not adjusted for seasonal changes.
    Statewide, nonagricultural employment gained 15,500 jobs, month-over-month, but still saw a year-over-year loss of 117,900 jobs.
    Nationwide, the April unemployment rate rose to 9.9 percent from 9.7 percent one year prior. Economists suggest the increase is typical as discouraged job seekers who stopped looking for work begin to re-enter the market.
    In April, 805,000 people without jobs entered the national labor force to search for work.

    In the meantime, Floridians’ consumer confidence is also showing signs of improvement, with a six-point increase – to 77 in April from 71 in March out of an index of 100, according to the University of Florida’s Bureau of Economic and Business Research.

    The largest increase was in Floridians’ perceptions of whether it is a good time to purchase big-ticket consumer items, which rose 14 points to 87. Consumers have a positive outlook on short- and long-term economic conditions, as well. Expectations of national economic conditions over the year rose 10 points to 80.

    Read more: Florida unemployment falls for first time in four years – South Florida Business Journal

  5. Alejando has it right…this is THE premier PH in Miami…if you haven’t been inside you wouldn’t know, but at $11M it’s pretty much at COST. From the 24′ high living room, to the 8′ slab yellow onyx flooring, the roodtop pool, etc, etc…it’s a dream PH and I wouldn’t doubt it if the original owner bought it back!

  6. “Shit, I’d spend half that and also buy a yacht to park outside of my sick house on the water” – – – DJ

    Now you’re talking! Money well spent!


  7. That was an ilegal action by the realtor who place it on the market for just 20 minutes. Who place it on the market was not a listing agent. Caixanova Bank never listed it with anyone.
    This is a legal action that RAMB should take care of. We don’t need unethical realtors doing this!

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