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.