Miami, FL
Studio 54 icon Ian Schrager’s Miami Beach penthouse lists for $7.5M
A luxury Miami Beach home owned by nightlife guru and former Studio 54 co-owner Ian Schrager, is now up for grabs for $7.5 million.
Listed by Toni Schrager of Brown Harris Stevens Miami, the property is aptly located in the hotelier’s Miami Beach Edition hotel, a project he embarked on in partnership with Marriott in 2014.
Schrager’s acquisition of the unit post the project’s completion in 2016 makes him the first and only occupant.
The condo boasts a turnkey interior featuring his signature aesthetic.
This makes it the ideal spot for entertaining guests or indulging in a classic night in.
The main selling point of this unit is its expansive rooftop terrace. Complete with a hot tub and an outdoor kitchen, this outdoor perch offers picturesque views of both the beach and the city, the listing notes.
It is currently the only listing in the building with a rooftop terrace.
Plus, there’s plenty of room for personal customization, as the space is large enough to accommodate additional features such as a sauna or cold plunge, according to the listing.
The new owner will also have full access to the Edition’s exclusive amenities, including the beach, dining, spa and nightlife facilities.
Besides its luxury and contemporary appeal, the property carries a piece of Ian Schrager’s personal history.
Made up of two bedrooms and four bathrooms, the home occupies a little more than 2,000 square feet.
Other building amenities include Jean-Georges restaurants, a gym, a valet, a concierge, and room and laundry services.
The Cleveland Browns traded for an extended right tackle, former Houston Texan Tytus Howard, at the start of free agency as they began their rebuild of the offensive line that was awful in 2025. But Howard has played every position on the offensive line except for center, so if it’s all about getting your best five on the field, which it should be, there’s a chance Howard doesn’t play at right tackle in 2026.
While doing a mock draft on Peter Schrager’s podcast, former Tennessee Titans general manager Ran Carthon had the Browns drafting Miami (FL) right tackle sixth overall. He talked about the issue with Howard, but said Mauigoa could either take over the tackle spot or be a really good guard.
Carthon said he knows that Mauigoa would be one of their best five, whether it is at guard or tackle. Some will say that a guy who may be best at guard isn’t worth the sixth overall pick, and I have to disagree. You should draft the best football players, and Francis Mauigoa is my highest-rated offensive lineman and seventh overall. It might be at guard, but I have a good feeling that Mauigoa will find a home in the NFL as a high-quality offensive lineman.
Inventory of homes and condos across the coastal Miami mainland and Miami Beach and the barrier island markets fell in the first quarter, marking the first big inventory drops since 2023.
The Corcoran Group’s first quarter reports don’t cover all of Miami-Dade County, but they offer insight into how the coastal markets, which have a higher share of luxury properties, are performing.
In Miami Beach, Sunny Isles Beach, Bal Harbour, Bay Harbor Islands, Surfside, Miami Beach, Fisher Island and Key Biscayne, single-family home inventory dropped 15 percent annually to 398 listings, and condo inventory was down 13 percent to 3,919 listings.
On Miami’s coastal mainland markets, which include Aventura, Miami Shores, Upper East Side, Edgewater, downtown Miami, Brickell, Coral Gables and Coconut Grove, inventory slipped 4 percent to 4,584 condo listings and 555 single-family listings, down 6 percent year-over-year.
Here’s a closer look at the market:
Miami Beach and the barrier islands
Single-family sales rose 13 percent year-over-year to 85 closings, the first time they have increased since the second quarter of 2024. Condo closings rose 15 percent to 693 closings, the first increase since the last quarter of 2024.
Pricing dropped, with the median price of single-family homes down 4 percent to $3.5 million and the median condo price down 9 percent to $640,000. The average price per square foot was nearly flat at $1,119.
Still, buyers set records with their purchases. Billionaire Facebook founder Mark Zuckerberg paid $170 million for the waterfront mansion at 7 Indian Creek Island Road, and Starbucks billionaire Howard Schultz paid $44 million, or $7,949 per square foot, for a penthouse at the Four Seasons Residences at The Surf Club.
Coastal mainland
Sales of single-family homes on the coastal mainland rose 16 percent to 220 closings. While markets like Coral Gables experienced declines in condo and single-family home sales, Coconut Grove home sales surged — up over 100 percent for single-family homes to 47 closings and up 55 percent to 87 condo closings. Condo sales rose 13 percent to 759 closings.
The median price of single-family homes across the coastal mainland rose 11 percent to just over $2 million. The median price of condos increased slightly, up 1 percent, to $602,000.
The priciest deals in the first quarter were the $32 million trade of 12 Tahiti Beach Island Road in Coral Gables, and the $19.8 million sale of a penthouse at Vita at Grove Isle.
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