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Ian Schrager Buys Miami Beach Edition Residence

The famous hotelier buys in his own product

The man who led the development of Miami Beach Edition just put his money where his mouth is.

Ian Schrager ponied up $5.5 million for a 2,268-square-foot unit, one of 26 residences at The Residences at The Miami Beach Edition. The two-bedroom unit with two and a half bathrooms offers an expansive rooftop terrace facing south, prime for soaking in the gorgeous Miami sunsets.

The unit last sold for $6 million in February 2015, a few months after the luxury establishment came to life the previous winter.