Enron short seller Jim Chanos lists Miami Beach ‘mega condo’ for $25M
After 20 years of calling a luxurious Miami Beach “mega condo” with spectacular ocean views home, investor Jim Chanos is moving on. Jim Chanos, the president and founder of Kynikos Associates, has listed a 4,776-square-foot Miami Beach ‘mega condo’ with spectacular ocean views for $25 million. The home is located on the 22nd floor of the swanky The Continuum brand-new in 2003 and is listed with Julian Johnston, Crystal Connors, Mick Duchon and Eloy Carmenate, all of the Corcoran Group. It is currently configured with three bedrooms and three full baths, plus a half bath off the large open-plan living, dining and kitchen area. The panoramic view of the Atlantic Ocean, Fisher Island and the Miami skyline via wraparound window walls is an instant selling point. The condo is located in Miami Beach’s desirable “South of Fifth” neighborhood and boasts expansive amenities, including multiple swimming pools, a state-of-the-art 20,000-square foot fitness and spa center, three clay tennis courts, valet parking and private beach access.
Published : 11 months ago by Wall Post Team in Finance World
After 20 years of calling a luxurious Miami Beach “mega condo” with spectacular ocean views home, investor Jim Chanos is moving on.
As reported in the Wall Street Journal, Chanos, the president and founder of Kynikos Associates, just put this property on the market for $25 million.
Not bad, especially considering Chanos bought the impressive 4,776-square-foot pad situated on the 22nd floor of the swanky The Continuum brand-new in 2003 for just over $3 million. Still, Chanos has a reputation as a sharp business analyst, specializing in short sales — notably predicting the fall of Enron before it filed for bankruptcy in 2001, and pocketing handsome proceedings for his foresight.
Located at 100 South Pointe Drive, the home is listed with Julian Johnston, Crystal Connors, Mick Duchon and Eloy Carmenate, all of the Corcoran Group, at $21 million. However, for that $25 million asking price, a separate studio apartment on the fourth floor of The Continuum, and a spacious bi-level cabana by the private beachfront pool are included — and Corcoran is marketing all three together as complementary assets.
“The studio is a perfect addition for a live-in maid or even to accommodate overnight guests,” co-listing agent Johnston told The Post. “The cabanas have a mezzanine and are useful to store your surf boards and beach gear. But some residents use them as an office — you get the nice cool breezes rolling in off the ocean.”
That comes in handy if the work-from-home mogul wants a change from the two interior offices.
The condo is currently configured with three bedrooms and three full baths, plus a half bath off the large open-plan living, dining and kitchen area. Unit 2203 is in original condition with top-line Poggenpohl-designed kitchens and bathrooms standard to The Continuum, but with the bespoke marble flooring that Chanos chose.
“It’s move-in ready or it’s a blank canvas for someone to create their own dream home,” said Johnston.
But it isn’t the swanky fixtures that immediately impress. The panoramic view of the Atlantic Ocean, Fisher Island and the Miami skyline via wraparound window walls is an instant selling point.
“It has 180-degree views, and because it faces south and west you get the sunrise in the morning and the sunset in the evening,” said Johnston. “And you don’t get the direct glaring afternoon sun. It really is the best of the best.”
Another wow factor is space. Not only is the almost 5,000-square-foot condo about twice the size of the average Miami home, but The Continuum building sits on a whopping 13.5 private acres.
“It’s the largest condominium footprint on Miami Beach,” said Johnston. Which means more room for expansive amenities, including multiple swimming pools, a state-of-the-art 20,000-square-foot fitness and spa center, three clay tennis courts, concierge services, valet parking and car washing, 24-hour security and private beach access.
“The amenities are superb. It has a private onsite restaurant by the pool and Catch just opened up by the building’s entrance,” Johnston noted of the New York City chain eatery’s new Miami branch.
Not that the neighborhood has a shortage of places to eat. The Continuum is located in Miami Beach’s desirable “South of Fifth” neighborhood, both tucked away from Miami’s tourism masses, but also within proximity to its top restaurants. Add in proximity to the beach and a good walkability factor, too.
“It’s right on the breakwater, near South Pointe Park, which just had a fantastic $15 million renovation,” said Johnston. “There’s a yoga pavilion, a dog park and a playground. You can walk to the park and then sit at Smith & Wollensky having drinks, overlooking the ocean,” he added.
South Florida’s residential charms have yet to wane after the pandemic influx — and Chanos intends keeping a residence there, opting for a single-family home in Coral Gables.
“Miami’s market has cooled a little,” said Johnston of the early 2020s boom. “But inventory is low. Given this property’s location and stunning oceanfront views, it is one of the hottest condos on the market. Even within The Continuum, it is in the more desirable South Tower, which is bigger than the North — the footprints are bigger, better.
“It’s about space, it’s about lifestyle — it’s about luxury, “ said Johnston. And that view? “That view can’t be beat,” he added.
Topics: Florida, Markets, Miami