An Italian Tycoon Just Bought Miami's New Most Expensive Home For $25 Million

continuum south beach miami

Photo: screenshot via Continuum promotional video

An Italian businessman just spent a record-breaking $25 million on a penthouse apartment on South Beach in Miami, the New York Times reports.The unnamed buyer controls an investment company, and the seller was Alex Birkenstock, whose family controls the eponymous German shoemaker, according to the NYT. He had reportedly paid $9.9 million for the home back in 2009.

The apartment was not listed on the market.

The triplex, at the Continuum, has 7,400 square feet of living space. It fetched a significantly higher price than the previous most expensive apartment in Miami; a penthouse at the Setai that Netscape founder Jim Clark recently sold for $21.5 million.

Now check out the penthouse that Jim Clark sold >

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