After 20 years of calling a luxury Miami Beach “mega condo” with spectacular ocean views home, investor Jim Chanos moves 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 on the 22nd floor of the posh The Continuum brand new in 2003 for just over $3 million. Still, Chanos has a reputation for being a sharp business analyst, specializing in short sales—particularly predicting Enron’s fall before it went bankrupt in 2001, and cashing in on fancy litigation 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, for $21 million. However, that $25 million asking price includes a separate studio apartment on the fourth floor of The Continuum and a spacious two-level cabana by the beachfront private pool — and Corcoran markets all three together as additional 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 for storing your surfboards and beach gear. But some residents use them as offices – you get a nice cool breeze blowing in from the ocean.
That comes in handy if the home-working mogul wants a change from the two indoor offices.
The condo is currently configured with three bedrooms and three full baths, plus a half bath adjacent to the large open living, dining and kitchen area. Unit 2203 is original condition with top of the line Poggenpohl designed kitchens and bathrooms as standard for The Continuum but with the custom marble floor chosen by Chanos.
“It’s move-in ready or it’s a blank canvas for someone to create their own dream home,” says Johnston.
But it’s not the chic fixtures that immediately impress. The panoramic view of the Atlantic Ocean, Fisher Island and the Miami skyline through wraparound window walls is an instant selling point.
“It has a 180-degree view and because it faces south and west, you have the sunrise in the morning and the sunset in the evening,” said Johnston. ‘And you don’t get the direct bright midday sun. It really is the best of the best.”
Another wow factor is the 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 in Miami Beach,” Johnston said. That means more room for expanded amenities, including multiple pools, a 20,000-square-foot state-of-the-art 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 its own poolside restaurant and Catch just opened at the entrance to the building,” Johnston noted of the eatery’s new Miami branch in New York City.
Not that the neighborhood is short on dining options. The Continuum is located in the desirable “South of Fifth” neighborhood of Miami Beach, both tucked away from Miami’s tourist crowds, but also close to the best restaurants. Add to that the proximity to the beach and a good walkability 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 down at Smith & Wollensky to have a drink, overlooking the ocean,” he added.
South Florida’s residential charms have yet to wane after the pandemic influx — and Chanos plans to keep a home there, opting for a single-family home in Coral Gables.
“The Miami market has cooled down a bit,” Johnston said of the early 2020 boom. “But inventory is low. Given this property’s location and breathtaking ocean views, it is one of the most popular condos on the market. Even within The Continuum, it’s in the more desirable South Tower, which is taller 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.
