Engel & Völkers Miami Represents Record-Breaking $33 Million Penthouse Sale in Brickell

Dec 20

MIAMI, Fla. November 6, 2024 - Engel & Völkers Florida today announced the record-breaking sale of a $33 million penthouse at Echo Brickell, located at 1451 Brickell Ave PH #56 in Miami. The sale marks the highest recorded condominium transaction in the City of Miami. A private client from the biopharmaceutical industry acquired the two-story, 11,000-square-foot penthouse with the assistance of Engel & Völkers Miami advisor Stephan Hermida.

“The Echo Penthouse 56 is exactly the type of trophy property that Miami's new elite pool of high-net-worth buyers are looking for: something that offers unparalleled luxury but also the utmost in livability, with easy access to the financial district, beaches, and the best in Miami's dining and nightlife,” said Vanessa Gomez, License Partner at Engel & Völkers Miami. “Our team is proud to match-make the most discerning global buyers with the most exclusive listings in South Florida.”

The exclusive five-bedroom, seven-and-a-half-bathroom residence offers 360-degree views, 28-foot ceilings, and private amenities, including an indoor sky pool, a Poliform kitchen, and a full wellness suite with a fitness studio, cardio room, and sauna. Situated on the 56th and 57th floors of Echo Brickell, the penthouse was listed by Greg Kiley, Chairman and CEO of Velocity, an Ohio-based managed solutions provider offering comprehensive IT solutions and support services, with representation from Compass agents Chad Carroll and Matthew Dugow.

“This transaction not only sets a new benchmark for Miami’s luxury market but also highlights the strength of Engel & Völkers’ clients we have access to across the globe,” said Peter Giese, CEO of Engel & Völkers Florida. “Our advisors consistently demonstrate their expertise in navigating high-value transactions, and we are proud of Stephan for his exceptional work in representing this transaction. Engel & Völkers Florida remains committed to being the leader in luxury real estate by providing unparalleled service to both clients and advisors.”

Echo Brickell, developed by Property Markets Group (PMG) and JDS Development Group in 2017, is recognized as one of Miami’s most prestigious residential towers. The recent sale sets a new benchmark for Miami’s condominium market, excluding ongoing presales or under-construction developments that may surpass this record.