After a lengthy tenure, Jay Schottenstein has decided to relinquish ownership of his South Florida home on the Miami-area barrier island of Key Biscayne. Records show the billionaire American Eagle Outfitters chairman and CEO is asking a speck under $34 million for his sprawling penthouse at the exclusive beachfront Grand Bay Tower development, with the listing jointly held by Brigitte Nachtigall of ONE Sotheby’s International Realty and Ohad Fisherman of the Fisherman Group.
Property records show Schottenstein and his wife Jeanie initially paid $5 million for a penthouse atop the 14-story structure in 2007 and subsequently picked up a neighboring penthouse for an undisclosed amount. They then spent the next five years combining the two units, which comprise the northeast and southeast corners of the building.
Art-friendly walls and built-in display cabinets are prominent in the Geoffrey Bradfield-designed aerie.
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Altogether, the four-bedroom, six-bath dwelling features a little more than 10,400 square feet of Geoffrey Bradfield-designed living space boasting sleek marble floors, high wood-paneled ceilings, gallery walls, and built-in cabinetry throughout. Floor-to-ceiling walls of glass and over 3,200 square feet of wraparound terraces also offer sweeping views of the Atlantic Ocean, Biscayne Bay, and Miami skyline.
Other highlights include two private elevator landings and a sprawling living area spotlighted by a mosaic mural. The formal dining room connects to a gourmet kitchen outfitted with dual islands, top-tier stainless appliances, and a breakfast nook, while an opulent primary suite features a luxe bath that comes with a floating spa tub nestled alongside a glass-encased shower.
An expansive network of wraparound terraces overlook stunning ocean, bay, and skyline views.
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Elsewhere are dual offices and an entertainment-ready family room equipped with a seated bar, as well as an outdoor gym, a wine storage room, and separate staff quarters. Topping it all off are plenty of community amenities courtesy of a substantial $10,632 monthly HOA fee, including 24-hour security via a guarded entrance shared with the neighboring Ritz-Carlton resort, plus five parking spaces and access to a secluded beach.
The recent World Retail Hall of Fame inductee—part of a wealthy Ohio-based family with a business empire that encompasses American Eagle Outfitters, American Signature Furniture, and DSW—owns a couple of other Miami-area residences and also maintains a large estate in his hometown of Columbus, Ohio.
Click here for more photos of the Key Biscayne penthouse.
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Source: Luxury - robbreport.com
