ARTE by Antonio Citterio, the exclusive boutique condominium which recently opened in Miami’s Surfside neighborhood, has sold its lower penthouse for $22.5 million in cryptocurrency. The deal makes the first cryptocurrency real estate transaction for a new development in Miami. ARTE by Antonio Citterio was developed by Alex Sapir’s Sapir Organization and Giovanni Fasciano. The development became the first new residential development in Miami to accept cryptocurrency as a form of payment earlier this month. The deal was overseen by Tara West of Douglas Elliman, who represented the developer, and Ryan Farbstein and Max Farbstein of The Farbstein Team at Douglas Elliman, who represented the buyer.

The transaction for the 5,067 SF PHB has broken several records including the most expensive price per square foot ever sold in Surfside at $4,440.50 PSF, and the second highest penthouse sale in Miami Beach since 2017. The deal also is the highest price pre square foot sale for a condo in 2021.

For cryptocurrency transactions ARTE has a partnership with blockchain and securities trading platform SolidBlock, which provides custom solutions for buying and selling digital assets. SolidBlock ensures that buyers paying in cryptocurrencies such as Bitcoin and Ethereum enjoy an easy and straight-forward purchasing experience.

Nestled in Surfside, the seaside enclave between Bal Harbour and Miami Beach, ARTE is a boutique, oceanfront development at the center of the city’s most vibrant cultural, culinary and shopping destinations. Featuring a stunning design by Italian master architect Antonio Citterio, the building offers impeccable interiors and finishes, as well as ten-star amenities and service. The development was built to cater to an exclusive selection of buyers who have not found quality design, exclusive privacy or outstanding service anywhere else in Miami.

ARTE residents enjoy a robust suite of amenities not found in other Miami luxury condominiums. They include a 75-foot indoor swimming pool, an outdoor swimming pool and beachfront meditation pond, a rooftop tennis court, state-of-the-art fitness center and yoga studio and sauna and steam room. Additional facilities include a children’s playroom with space for remote learning, residents’ lounge, catering kitchen for out-of-home entertaining, and private temperature-controlled parking spaces.

Prices at ARTE by Antonio Citterio start at $10.3 million, or the equivalent cryptocurrency rate, and the spacious three- to five-bedroom plus residences range in size from approximately 3,150 to 7,550 square feet. Sales are exclusively handled by Douglas Elliman Development Marketing.

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