realtor.com
A South Beach condominium owned by Pritzker-winning architect Zaha Hadid, who died unexpectedly last year, is relisting for $6.5 million, or 35% below its initial asking price of $10 million nine months ago.
The new list price reflects the fact that “we are in a buyers’ market in Miami,” said Ivan Chorney of ONE Sotheby’s International Realty, who with colleague Angelica Garcia took over the listing from another agent. “There is currently a four-year supply of luxury condos over $1 million, so the right price point and design features are more important than ever.”
In W South Beach, the 2,541-square-foot property has two bedrooms and three bathrooms plus an adjacent studio apartment, which has a separate entrance. Ms. Hadid renovated the space in her signature style, with curvaceous lines and metallic surfaces that reflect the light from an expansive ocean view, the agents said.
Ms. Hadid bought the two units that make up the main apartment in 2010 for a total of $2.79 million and purchased the studio for $1.38 million in 2015, according to public records. She had many friends in Miami and used the property while working on the 1000 Museum condo building, which is currently under construction, said Christian Gibbon, general manager of Zaha Hadid Holdings in London.
Ms. Hadid was 65 when she died from a heart attack in March last year, Mr. Gibbon said. Born in Baghdad, she studied architecture in London and became known for commissions like the London Aquatics Center, built for the 2012 Olympics, the Guangzhou Opera House in China and the Maxxi National Museum of 21st Century Arts in Rome. She was the first woman to win the Pritzker Architecture Prize in 2004.
The post Zaha Hadid’s Miami Condo Price Slashed 35% appeared first on Real Estate News & Insights | realtor.com®.
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