Luxury Edgewater Condo Sells for $6.8M in Miami's Elysee Tower

Douglas Elliman's Zachary Belil brokers $6.8M sale of 7,958 SF condo in Elysee Miami tower.

By on Jul 21, 2021
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Luxury Edgewater Condo Sells for $6.8M in Miami's Elysee Tower

A luxury condo in Miami’s Elysee tower has sold for $6.8 million, according to public records. The 7,958 square foot unit, located at 788 NE 23rd Street in the Edgewater neighborhood, was sold by Two Roads Development to an undisclosed buyer. The sale was brokered by Zachary Belil of Douglas Elliman.

The Elysee tower is a 57-story luxury high-rise that was completed in 2019. The building features 100 units, each with private elevator access and panoramic views of Biscayne Bay and the Miami skyline. Amenities include a fitness center, spa, pool, and 24-hour concierge service.

The sale of the Elysee condo represents a price per square foot of 858. This is in line with recent sales in the Edgewater neighborhood, which has seen a surge in demand for luxury condos in recent years. According to data from Zillow, the median home value in Edgewater is 548,000, up 9.5% from last year.

Two Roads Development is a Miami-based real estate development firm that specializes in luxury residential and hospitality projects. The company has developed several high-end properties in the Miami area, including the Biscayne Beach and Elysee towers.

Zachary Belil is a broker with Douglas Elliman, one of the largest real estate firms in the United States. Belil specializes in luxury residential properties in the Miami area and has been involved in several high-profile sales in recent years.

The buyer of the Elysee condo has not been disclosed, and it is unclear whether the unit will be used as a primary residence or as an investment property. However, the sale of the luxury condo is a sign of the strong demand for high-end real estate in Miami, particularly in the Edgewater neighborhood. With its stunning views and world-class amenities, the Elysee tower is likely to remain a top destination for luxury buyers in the years to come.