Continuum South Beach Bulk Sale for $30 Million by Two Former Morgan Stanley Execs

June 21, 2021

In 2014, Karen Bechtel and her husband William McKinley Osborne III (former Morgan Stanley executives) purchased 3 total units at Continuum South Beach South Tower for $21 million. Records show that they purchased units 3602, 3603, and 3604 and combined it into one unit totaling 8,229 square feet on the 36th floor.

The full-floor condo was originally listed in March 2021 with an asking price of $36.5 million. The gorgeous combined units feature a total of 6 bedrooms, 5.1 bathrooms with a 2-story main suite. Two kitchens, a theater and 3,704 square feet of balconies make up the rest of the luxury apartment.

According to county records, the buyer was listed at MFTMA Holding LLC. The price per square foot totals $3,646, and is considered Miami Beach’s fourth most-expensive condo deal since 2005.

Continuum developer Ian Bruce Eichner also sold his penthouse in the building for $35 million in April 2021 that was originally listed for $48 million two year ago. Another sale for Continuum included CEO of a financial tech company purchased 2 combined units for $12.1 million.

Bechtel and Osborne were both Managing Directors at Morgan Stanley from 1980 to 1991. Bechtel is currently a senior adviser at Carlyle Group. During the pandemic, they established a non-profit organization called Meals for Heroes Miami that focused on partnering with local restaurants to provide food for health care workers and first responders. In April, the couple bought a mansion in Tahiti Beach for $28.9 million.

Continuum was built in two phases by developer by Bruce Eichner in 2002. Residents of Continuum South Beach enjoy arguably the best resort-style amenities.

BUILDING AMENITIES

• Stunning landmark architecture
• 1,000 ft of direct beach front access
• 24-hour welcome desk with concierge  
• 24-hour guest valet 
• Elegant resident club room
• Luxury Health spa with sauna, steam room
• Two lagoon-style pools
• State-of-the-Art gym
• Business Center 
• Lush and manicured landscape
• 3 Tennis Courts
• Outdoor restaurant
• Multi-story health club & spa

RESIDENCE AMENITIES

• Ten foot high ceilings
• Private balconies with glass railings
• Floor to ceiling sliding glass doors
• Imported marble countertops, backsplash, and whirlpool decks
• Imported marble flooring in wet areas and shower
• Designer fixtures
• Whirlpool tubs
• European bathroom vanity cabinets
• Seamless glass shower doors
• Custom European designed cabinetry
• Granite Countertops
• Under counter lighting
• Faber “Inca Smart” integrated hood vent
• Sub-zero built-in refrigerator-freezer
• Miele touch-control cook top
• Miele integrated dishwasher
• Miele microwave oven
• Single-lever faucet with pull out spray

If you or someone you know have interest in purchasing one of the units at Continuum South Beach, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.