ML-Implode News - Blankfein Said to Buy Into $1 Billion Miami Condo Project

They came to celebrate the $1 billion Faena Miami Beach, an oceanfront development for the mega-rich whose advance buyers include Goldman Sachs Group Inc. (GS:US)Chief Executive Officer Lloyd Blankfein and Apollo Global Management LLC (APO:US) co-founder Leon Black, according to two people familiar with the matter, who asked for anonymity because the information isn't public.
The project will feature an 18-story tower with 47 residences priced at $3 million to $50 million, two luxury hotels and an arts center designed by Pritzker Architecture Prize winner Rem Koolhaas, said Alicia Goldstein, executive vice president of sales and marketing at Faena Group. The number of condominiums and single-family homes sold for $1 million or more in the Miami area rose 36 percent this year through October from the same period a year earlier, said Ron Shuffield, CEO of EWM Realty International/Christie's, citing data from the Miami Association of Realtors.

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Blankfein Said to Buy Into $1 Billion Miami Condo Project