Two remarkable neighboring two-story penthouses at La Gorce Palace in Miami Beach connected by a massive and dynamic rooftop terrace exceeding 3,100 square feet are listed separately for a combined $5.9 million, but the seller is willing to take $5 million for both (totaling five bedrooms and eight bathrooms), per listing agent Justin Rubin of The Rubin Group (Douglas Elliman).
Penthouse 1-2, asking $3,695,000, is 3,825 square feet and a combination of two units while the residence next door, the 2,280-square-foot Penthouse 3, is seeking $2.25 million.
The rooftop terrace connects the two but a buyer of both can choose to knock down a wall to create one mammoth residence in the sky or leave the second penthouse as a private guest suite.
If you include half of the rooftop space in the total square footage, as agents typically do with terraces of this magnitude, that $5 million figure boils down to $650 a foot — absurd value for Miami Beach standards.
While the buyer will likely gut the residence, the value is pretty staggering considering the amount of rooftop space and the ocean views.
For perspective, a penthouse at W South Beach, which is about 40 blocks south, listed last month asking just under $5,000 a foot.