Ian Schrager’s Miami condos are hottest thing going as his penthouse unit sells for $34 million

Schrager helped run famous discotheque Studio 54 and created the boutique hotel craze in New York in the 1980s. His Residences at the ­Miami Beach Edition offer an ocean view and indoor-outdoor living with private exterior spaces the size of a SoHo loft



Sleek interiors at Ian Schrager’s The Residences at the Miami Beach Edition.

Ian Schrager is on a roll, a roll that technically started in the mid-1970s, when he and partner Steve Rubell ran the greatest discotheque in modern times, Studio 54. These days, the man who created the boutique hotel craze at New York’s Royalton in the 1980s is in Miami, and it’s condominiums that are making the noise.

Schrager’s The Residences at the ­Miami Beach Edition will rise on top of a brand he created by the same name for Marriott on Collins Ave. and 29th St., just north of prime South Beach.

Already, it has sold 13 of 26 units in a little over a month, doubling the top prices in Miami selling at more than $3,000 per square foot. The penthouse set a record for the highest-priced condo sale in Miami history, bought for $34 million.

According to Miami real estate sources, a bidding war occurred between a Wall Street financier and a family from New Jersey. The family won, and will live in one of the Schrager-conceived homes designed by California-based architect John Pawson.

The 26 apartments, all of which feature ocean views, have double-height ceilings, dramatic front door entryways and indoor-outdoor living with private exterior spaces the size of a SoHo loft.



A stunning panoramic view of the interiors and exteriors of a home in The Residences at the Miami Beach Edition, a development by Ian Schrager.

“I’m not surprised at the prices we’re getting, but I am surprised by the velocity of sales,” said Schrager, whose 40 Bond condominium designed by architects Herzog & de Meuron in downtown New York changed the local design scene by creating a one-of-a-kind living experience even for New York. “Wherever we’ve gone, we’ve doubled the prices. Miami has changed. It’s not some second-class beach city anymore. It’s attracting a new kind of global citizen, and this is the only place that lives up to their standards.”

Those standards mean wide entryways with dramatic views. They mean clean lines, 21-foot ceilings, white walls and sliding glass doors that reflect the blue of the ocean and open to “gardens in the sky,” as the brochure calls the outdoor rooms.

Pawson, who designed the Calvin Klein flagship on Madison Ave., is known for creating ethereal spaces that put natural materials first. Schrager wanted something no one had ever seen before in a condominium residence.

‘Anyone can have money, but that doesn’t mean they have taste,” said Schrager. “You can’t buy taste, but if you can give people a property with taste, they’ll buy it. People call Pawson a minimalist. I don’t believe that. He’s a purist. The impact of light is maximized at Edition. The materials are the best we could find.”

Everything is custom-designed by Schrager and Pawson, right down to the closet doors.



Ian Schrager ran the famed New York disco Studio 54. Here, Schrager stands in front of his New York development 40 Bond, designed by Swiss architecture firm Herzog & de Meuron.

“Every single detail is a matter of life or death,” said Schrager. “I’m creating an elevated living experience. That’s something that has never been seen before — making the sum greater than the individual parts. Even the hardware on the sliding doors has to be perfect. When that happens, a sort of alchemy occurs where the place becomes magical. Who wouldn’t want to live like that?”

Read more: http://www.nydailynews.com/life-style/real-estate/ian-schrager-condos-sizzle-miami-article-1.1288714#ixzz2Nu8amw1Z

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