Recently, Miami Beach’s most expensive penthouse was sold for $22.5 million. The Surfside penthouse measures 5,067 square feet. It features four bedrooms and occupies the entire floor in the boutique condo building. In addition to breaking the record for price per square foot ($4,440.50.sf), this sale was notable because it didn’t close using American dollars. The penthouse was paid for entirely using cryptocurrency. In fact, this was the most expensive cryptocurrency real estate transaction in the U.S to date. In addition, the penthouse took less than 10 days to close, setting additional records.
Besides being an incredible record-breaking deal, this also sent a very loud message about the future of real estate. That is, cryptocurrency real estate deals are here to stay. In less than two weeks of announcing that Arte was going to take crypto as a form of payment, the project had half a dozen offers for the Lower Penthouse and a signed contract.
Arte is the first development in South Florida to take cryptocurrency as payment. The luxury project is making history. They were the first new development to offer this kind of cryptocurrency transaction, and sold the most expensive penthouse very quickly after the announcement.
Arte is a boutique, oceanfront development in Surfside. Located between Bal Harbour and Miami Beach, this luxurious development is close to everything Miami has to offer. In addition, it features a design by Italian architect Antonio Citterio, and offers beautiful interiors and finishes. Prices at this prestigious new development start at $10.3 million (or the equivalent cryptocurrency rate). Units range from 3150-7550 square feet.
