South Beach Condo Sells For Record $25 Million

The five-bedroom condo with a private pool is located at 100 South Pointe Drive in South Beach

Friday, May 25, 2012  |  Updated 8:48 PM EDT
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Officials say the price breaks the previous record set in January when a Miami Beach penthouse sold for $21.5 million.

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A three-story penthouse with views of the Atlantic Ocean and the city of Miami has sold for a record $25 million.

The five-bedroom condo with a private pool at 100 South Pointe Drive in South Beach recently sold to a buyer who plans to "rip everything out" and spend $2 million to finish it, The Miami Herald reported.

Officials say the price breaks the previous record set in January when a Miami Beach penthouse sold for $21.5 million.

The South Beach condo last sold in May 2009 for $9.9 million.

Julian Johnston represented the owner and signed an agreement not to reveal the name. Johnston says the condo was not even listed when the buyer asked to see it.

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