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Firm of Texas billionaire sells South Beach penthouse for $15M

The penthouse has a private rooftop pool.
Credit: Douglas Elliman
A terrace and private pool at 1500 Ocean, Penthouse T-1, Miami Beach.

A company controlled by Tim Headington, a billionaire oil and real estate executive from Dallas, sold a top-floor condo at 1500 Ocean in Miami Beach for $14.9 million.

Tango Fla LLC, affiliated with Headington, sold Penthouse T-1, which consists of three combined units, in the building at 1500 Ocean Drive to 25 Ocean LLC, a Delaware-registered company. It’s not clear who owns the LLC that bought it. The condo has 8,400 square feet of interior space and 7,300 square feet of terraces.

The deal was brokered by Eloy Carmenate and Mick Duchon of Douglas Elliman. Carmenate said this deal was part of the surge in luxury condo sales in Miami Beach since January, as many wealthy people from states like New York and California are buying here.

The penthouse at 1500 Ocean features five bedrooms, six bathrooms, two half-bathrooms, private plunge pool, movie room, summer kitchen, fire pit, outdoor shower, and Savant home technology with an iPad for every room.

The oceanfront condominium was built in 1998 and has about 100 units.

Headington’s company acquired four units in 1500 Ocean for $12 million in 2007. After selling three of them for $14.9 million, it still owns Unit T-8. Carmenate said that unit is currently listed for sale.

Through Tango Fla LLC, Headington also owns condo units at Ill Villagio, Capri South Beach and the Carrillon, plus a townhouse at Aqua on Allison Island. Carmenate said the townhouse is under contract to be sold.

To see photos of this mansion, click here.