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Mark Cuban’s Miami neighbor seeks $20M for beachfront penthouse

Atop the Michael Graves Building

The penthouse atop 1500 Ocean Drive in Miami Beach
The penthouse atop 1500 Ocean Drive in Miami Beach
via Eloy Carmenate and Mick Duchon of Douglas Elliman

A stunning penthouse atop the “Michael Graves Building” in Miami Beach neighboring a unit owned by Mark Cuban is back on the market asking $19.5 million, a sizable reduction from its previous ask of $25 million back in 2012.

The 8,400-square-foot residence overlooks the ocean and is owned by billionaire Tim Headington, an oil magnate and movie producer who paid $12 million for the unit in 2007. The building was the only Miami Beach project of legendary architect Michael Graves, who passed away a few years ago.

The residence is a combination of several units and totals five bedrooms, eight bathrooms, a glass-enclosed wine room, smart home technology, and a movie theater. It also boasts a 7,000-square-foot rooftop terrace that’s currently under construction, per listing agent Eloy Carmenate, and 270-degree views of the ocean and beach.

Among Headington’s notable film credits are Argo, World War Z, and Hugo. Cuban’s unit was purchased for $2.4 million in 2007, according to public records.