Faena Condo Rents for $70,000 per Month, Highest Priced Condo Rental in Miami
Posted by Christine Martinez de Castro — November 7, 2016
MIAMI, FL— A 4,730-square-foot condominium in Faena House in Miami Beach has rented for $70,000 a month. Featuring four bedrooms and six and a half bathrooms, this is the highest condo rental this year in Miami-Dade County, according to the MLS*. Ashlea Gershfield-Evans from Prestige Realty Group (PRG) represented the renter, a family from London. The seven month lease became effective November 1st. The residence was listed by Douglas Elliman.
“Faena House was recently completed and the initial rentals were really testing the market to see what price it would bare,” said Tony Rodriguez-Tellaheche, broker and co-founder of Prestige Realty Group. “This rental, which sits on the 10th floor, is a testament to how strong the market still is. We continue to not only break records in real estate, but also receive interest from London buyers —and renters— despite the Brexit.”
PRG has a very direct connection to the UK market. Christopher Hodgson, a native of London, is co-founder/owner of Prestige Realty Group. He is also the son of the famous Roy Hodgson, former manager of the England National Football Team, who has enjoyed wide success as a football manager. Hodgson spends much of his time living and traveling between Miami and London, allowing him to keep his finger on the pulse of both markets. This has proved useful. In August of 2015, The Guardian put the number of millionaires living in Britain at 715,000, compared to 508,000 in 2010 — a 41 percent increase over the past five years. Hodgson’s expertise, network and knowledge of the UK is beneficial to Prestige Realty Group especially in navigating the impact of Brexit.
Miami-based Prestige Realty Group was founded in 2011 by Tony Rodriguez-Tellaheche, who is the broker of record, and his partner Christopher Hodgson. With associates in London, the boutique firm procures many European clients and has a keen knowledge of the interest in Miami real estate from both sides of the Atlantic. Prestige Realty Group is home to more than 25 agents and focuses on luxury residential homes in Miami Beach, Coconut Grove, Coral Gables, Brickell, South Miami and Pinecrest. Prestige Realty Group’s agents are fluent in several languages including English, Spanish, Italian, French, Swedish and Portuguese. These agents, most of whom are born and raised in Miami, are mostly millennial and use the latest technology, social media, apps, drone aerial photography and videos for all their listings to help clients achieve the highest price possible for their property. When you hire Prestige Realty Group you are not just hiring one agent, you are hiring a team of 25 competent agents focusing on servicing the client efficiently and professionally.
Disclaimer: Based on closed rentals in Miami-Dade in all price ranges as reported by the MLS on November 1st, 2016.