Enron short seller Jim Chanos demands $25 million for Miami Beach home
After 20 years of calling a luxurious Miami Beach “mega condo” with spectacular ocean views, investor Jim Chanos is moving on.
As The Wall Street Journal reports, Chanos, the chairman and founder of Kynikos Associates, has just put this property on the market for $25 million.
Not bad, especially considering Chanos bought the impressive 4,776-square-foot pad on the 22nd floor of the brand-new The Continuum in 2003 for just over $3 million. Still, Chanos has a reputation for being a sharp business analyst, specializing in short selling – 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 on the fourth floor of The Continuum and a spacious two-level cabana by the private oceanfront pool are included – and Corcoran is marketing all three together as add-on assets. .
“The studio is a perfect addition for a maid or even for hosting overnight guests,” co-listing agent Johnston told the Post. “The cabanas have a loft and are useful for storing your surfboards and beach gear. But some residents use them as an office – you get the nice cool breeze blowing in from the ocean.
This comes in handy if the work-from-home tycoon wants to switch from the two indoor offices.
The condo is currently configured with three bedrooms and three full bathrooms, plus a powder room next to the large open concept living room, dining room and kitchen. Unit 2203 is in its original condition with high-end kitchens and bathrooms designed by Poggenpohl, in accordance with the Continuum, but with the bespoke marble flooring chosen by Chanos.
“It’s move-in ready or it’s a blank canvas for someone to create their own dream home,” Johnston said.
But it’s not the chic light fixtures that immediately impress. Panoramic views of the Atlantic Ocean, Fisher Island, and the Miami skyline via wraparound glass walls are an instant selling point.
“It has 180 degree views, and because it faces south and west, you get sunrise in the morning and sunset in the evening,” Johnston said. “And you don’t get the glaring direct afternoon sun. It really is top notch. »
Another wow factor is space. Not only is the nearly 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,” Johnston said. Which means more room for expansive amenities, including multiple pools, a state-of-the-art 20,000 square foot fitness and spa center, three clay tennis courts, concierge services, valet parking, and car wash, 24 hour security and private beach access.
“The facilities are superb. It has a private on-site poolside restaurant and Catch just opened at the entrance of the building,” Johnston noted of the New York restaurant chain’s new Miami branch.
Not that the neighborhood lacks places to eat. The Continuum is located in Miami Beach’s sought-after “South of Fifth” neighborhood, both away from the tourist masses of Miami, but also close to its best restaurants. Also add the proximity to the beach and a good walking factor.
“It’s right on the Breakwater, near South Pointe Park, which just had a fantastic $15 million renovation,” Johnston said. “There is a yoga pavilion, a dog park and a playground. You can walk to the park and then sit at Smith & Wollensky having a drink, overlooking the ocean,” he added.
South Florida’s residential charms have yet to fade after the influx of the pandemic — and Chanos intends to maintain a residence there, opting for a single-family home in Coral Gables.
“The Miami market has cooled off a bit,” Johnston said of the early 2020s boom. “But stocks are low. Considering this property’s location and stunning ocean views, this is one of the hottest condos on the market. Even within the Continuum, it’s in the most wanted South Tower, which is bigger than the North Tower – bigger, better footprints.
“It’s about space, it’s about lifestyle — it’s about luxury,” Johnston said. And this view? “This point of view is unbeatable,” he added.