A Miami Beach couple has cashed out of their Faena House condo for $16 million, according to the South Florida Business Journal. The oceanfront deal adds yet another high-end trade to the Collins Avenue tower, which has become a favorite landing spot for deep-pocketed buyers. The freshly reported closing underscores the continuing demand for turnkey coastal living in the city.
The South Florida Business Journal reports that public records identify the sellers as the Kringsteins and note that the residence had been claimed as their homestead. The paper also highlights the unit's wraparound balcony, one of the signature design features that has helped make Faena House a trophy address.
Public MLS and listing records reflect a mid-May closing at Faena House at a $16 million price, recorded as a sale last Friday and associated with a 10th-floor line in the building. Those listing pages also spell out the interior square footage, monthly HOA fees and the brokers who handled the transaction; see the MLS entry on Homes.com for the full breakdown.
Faena House remains a marquee address
Faena House has been a recurring headliner in Miami's luxury market, first grabbing national attention when billionaire buyers paid top dollar, as reported by The Real Deal. That sales history goes a long way toward explaining why resale units in the tower continue to attract affluent buyers willing to pay a premium.
What buyers pay for
Owners at Faena House are buying more than just a mailing address. The building offers panoramic ocean views, wraparound "alero" terraces, a private beach club and full-service amenities from developer Alan Faena, with architecture by Foster + Partners. The limited 47-residence footprint and hotel-style services are standard talking points in marketing materials; see the building overview at Brown Harris Stevens.
MLS records tied to the listing also identify the brokers involved and outline recent ownership history connecting the property to Christina Kringstein and related trusts. Those public listing details and deed traces appear in local MLS reporting and on property pages at Homes.com.
While big-ticket condo figures tend to grab headlines, market observers point out that these ultra-luxury tower trades make up only a thin slice of Miami's overall housing market and do not necessarily signal broader shifts. Analysts at Realtor.com and other outlets note that such sales are largely concentrated in a small cluster of buildings and among a relatively narrow pool of buyers.
