Anybody Want to Buy The $20M Penthouse Jorge Perez Said He Was Going to Retire In?
When the Related Group’s One Ocean was under development, company President Jorge Perez declared he would be moving out of his large family home (in Coconut Grove, if I remember correctly) into the premier penthouse of this building. The kids were all grown up, so he and the wife were doing what empty nesters do, looking forward to retirement, and moving into a $20 million condo by the beach.
Then he changed plans. The building was completed, and fully sold out, and for some reason Mr. Perez decided to swap the unit for a place one tenth of the price at another project he’s developing, Auberge, in Fort Lauderdale. Or at least that’s the official story, because as anybody who knows anything about anything knows, it could all be marketing, baby. And $20 million is $20 million, even for a billionaire workaholic who has built half the condo buildings in Miami, like Perez.
The unit, which has been officially on the market for about a month comes with 3,500 square feet of indoor living space, four bedrooms, five and a half baths, wrap around balconies, and a rooftop terrace with hot tub. Gorgeous views of South Beach, the ocean, and some of Perez’s South Pointe developments from past real estate booms are complimented by white marble in the kitchen and baths, and Dutch wood floors.
Is An Ultra Expensive Condo Project Coming to Terminal Island?
Previous project designed for the site, by Lord Norman Foster.
Back in 2014, developer Harvey Hernandez pitched a public-private partnership to the City of Miami Beach to build a luxury condo tower on Terminal Island that would be designed by Lord Norman Foster. The idea was rather fabulous of course – a ship-like form perched in the middle of Biscayne Bay, right next to the cruise ships – and even though Miami is the place where fabulous things come true, it didn’t.
But something like it might. According to The Next Miami, the Related Group has now likely gained control of a 3.71-acre piece of land on the property through a series of deals made last month. Meanwhile, in a Bloomberg article announcing condo king Jorge Perez’s desired departure from Related in a few years, and his plan to hand the reins over to his sons, also mentions that son Jon Paul Perez “recently brought in a deal in the Miami Beach area that he said would be the site of the company’s priciest-ever condo project on a per-square-foot basis, with units costing more than $2,500 a square foot.” Could this be that? If so, it would be right up there with his father’s most spectacular projects.
Jorge Perez Trading One Ocean Penthouse for Condo at Auberge FTL
Auberge FTL
Developer Jorge Perez has placed his $20 million One Ocean penthouse on the market, in South Beach, and at the same time gone into contract on a $2.4 million unit at Auberge Fort Lauderdale, according to a Related Group publicist. He is developing both buildings. When Mr. Perez announced he would be moving into the One Ocean unit he was ostensibly downsizing for retirement, and a $20 million unit in the most expensive part of South Beach made sense for a billionaire’s retirement pad. Has Jorge Perez, who isn’t exactly known for modest architecture, all of a sudden want a quiet, peaceful existence out of the hubbub of Miami, or could the Auberge ‘purchase’ just be another marketing push?
