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Faena Residences developers presell $30M penthouse for record price along Miami River
Summary by The Miami Editorial Desk Katherine Kallergis , as published by The Real Deal
· July 16, 2026
· 1 min read
Photo: The Real Deal · view original
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Summary created by The Miami Editorial Desk — automated, rule-governed Byline on source page Katherine Kallergis, as published by The Real Deal Original story Read at the source Source published Jul 16, 2026 AI assistance Automated summary drawn from the source’s own published text Prepublication human review No — editorial rules, flagged-item review, and published samples
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Key points The development is a joint venture between Shahab Karmely's KAR Properties and Edgardo Defortuna's Fortune International Group. A penthouse at the Faena Residences, a luxury condo development along the Miami River, has been presold for $30 million.
A penthouse at the Faena Residences, a luxury condo development along the Miami River, has been presold for $30 million. This sale sets a record for the area in terms of price and price per square foot. The development is a joint venture between Shahab Karmely's KAR Properties and Edgardo Defortuna's Fortune International Group.
The penthouse in question will have 8,200 square feet of interior space. A buyer is under contract to purchase the unit, although their identity has not been disclosed. The Faena Residences is a Rafael Viñoly-designed project that was launched last year.
Further details about the sale and the development are available from the original source.
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Category: arts Published: July 16, 2026 Source: The Real Deal Reading time: 1 min
Frequently asked about this story
What is this story about? A penthouse at the Faena Residences, a luxury condo development along the Miami River, has been presold for $30 million. This sale sets a record for the area in terms of price and price per square…
When was this published? This article was first published on July 16, 2026 by The Real Deal and curated for The Miami readers.
Who reported this story? This story was reported by Katherine Kallergis at The Real Deal. To learn more about how The Miami selects and reviews stories, see our editorial standards .
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