Alex Blavatnik buys at Faena House for $11.6M
His brother Len Blavatnik is Faena’s partner on the residential tower
November 25, 2015 11:15AMBy Katherine Kallergis
Renderings of Faena House
A company managed by Alex Blavatnik, brother of billionaire Len Blavatnik, dropped $11.55 million on fifth-floor unit at Faena House, Miami-Dade County records show.
Alex Blavatnik, who recently acquired a 7,500-square-foot site in North Beach, is executive vice president of Access Industries, the conglomerate that controls Warner Music Group. He’s listed as the manager on the LLC that purchased unit 5A this week, a 4,730-square-foot residence. Len Blavatnik, who is worth $21.3 billion, founded Access and is Alan Faena’s business partner on the exclusive 18-story tower in Miami Beach.
Alex Blavatnik’s unit has least four bedrooms and six bathrooms. It also features a 1,516-square-foot terrace, according to marketing materials.
Buyers at the elite Mid-Miami Beach tower include billionaire Ken Griffin, who paid $60 million for two penthouse units; British billionaire Alan Howard, who paid $14.5 million for unit 4A; and Goldman Sachs Chairman and CEO Lloyd Blankfein, who paid $9.5 million for unit 8A.
Griffin’s purchase set a new record for condos in Miami-Dade County, and even beat the record price for a single-family home that previously belonged to the $47 million home at 3 Indian Creek Island Road.
In October, a third Faena penthouse closed for $29 million.
Faena House marks the first of four planned oceanfront condo towers in the ultra-luxury project, which stretches from 3200 to 3500 Collins Avenue. The 42-unit, 18-story tower was designed by Foster + Partners.
Source: The Real Deal