Main Facts
In the competitive and often predictable landscape of South Florida luxury real estate, finding a property that genuinely breaks the mold is a rare occurrence. Standard iterations of coastal opulence frequently rely on minimalist white palettes, floor-to-ceiling glass, and understated, neutral furnishings designed to appeal to the widest possible demographic. However, a striking duplex penthouse on Miami Beach’s iconic Collins Avenue defies this cookie-cutter approach entirely, offering a masterclass in maximalist, art-forward design.
The residence, which spans 3,357 square feet of interior space across four bedrooms, is crowned by an astonishing 3,500-square-foot private rooftop terrace—a al fresco expanse that literally eclipses the footprint of the apartment below. Featuring sweeping, unobstructed vistas of the Atlantic Ocean, the rooftop is fully equipped as an entertainer’s paradise, complete with a pergola-shaded dining pavilion, a fully appointed outdoor kitchen, and a custom stone bar.
Originally listed in 2024 for $7.7 million, the property failed to secure a buyer during its initial turn on the market. Now, the owner is making a renewed push, returning to the market with a refreshed strategy and an adjusted asking price of $6.9 million. The listing is held by Carl Gambino and Andrew Kardonski of Compass.
The penthouse is the visionary creation of Argentine-born art curator and former Faena Group creative director and partner Ximena Caminos. By merging two neighboring units—which she acquired in 2022 for $4.25 million—Caminos transformed the combined space into a living canvas that reflects her deep roots in the global art and hospitality sectors. Rather than yielding to prevailing design trends, Caminos has infused every corner with an eccentric, highly personal aesthetic that feels less like a traditional beachfront condo and more like a private, miniature iteration of the famed Faena Hotel.
Chronology
To understand the unique architectural and cultural pedigree of this Collins Avenue penthouse, one must trace its journey through both historical milestones and recent real estate transactions.
- 1941: The building’s historical roots are planted when renowned architect L. Murray Dixon—a legendary figure instrumental in defining Miami Beach’s signature Art Deco visual identity—designs The Caribbean on Collins Avenue. The original hotel serves as a jewel of mid-century hospitality and architectural significance for decades.
- Decades Later: As the demographics and economic landscape of Miami Beach evolve, the historic hotel undergoes a major adaptive reuse project. The original structure is converted into private residential condominiums and integrated with a newer, contemporary tower to accommodate modern luxury buyers.
- 2022: Argentine art curator and hospitality powerhouse Ximena Caminos recognizes the potential within the building and purchases two adjacent units on the upper levels. She embarks on an ambitious architectural combination project, merging the two spaces to create a single, expansive penthouse layout totaling 3,357 square feet.
- 2024: Following a meticulous interior overhaul—characterized by bespoke artistic installations and vintage furnishings—Caminos officially lists the newly minted penthouse on the open market with an asking price of $7.7 million. Despite generating significant interest for its daring design, the property ultimately fails to find a buyer, leading to a temporary withdrawal.
- Present Day: Recognizing a shift in market conditions, Caminos initiates the property’s second act. Teaming up with elite luxury real estate advisors Carl Gambino and Andrew Kardonski of Compass, the penthouse returns to the market at a more compelling price point of $6.9 million, inviting a fresh wave of prospective buyers to experience its unique blend of history and high art.
Supporting Data
The value proposition of this Collins Avenue penthouse lies not merely in its square footage or its prestigious address, but in the intricate details of its architecture, material selection, and design pedigree.
Spatial Metrics & Layout
- Interior Living Space: 3,357 square feet, optimized into a functional four-bedroom, multi-bathroom layout.
- Private Rooftop Terrace: 3,500 square feet—providing an outdoor footprint larger than the residence’s interior footprint.
- Outdoor Amenities: Pergola-covered outdoor dining area, fully functioning outdoor kitchen, and a custom-built stone bar.
- Historical Architecture: Originally constructed in 1941 by celebrated Art Deco architect L. Murray Dixon.
- Previous Acquisition Cost: $4.25 million, paid by Caminos in 2022 to acquire and merge the two distinct neighboring units.
Financial Adjustments
- Initial Asking Price (2024): $7.7 million.
- Current Asking Price: $6.9 million, reflecting an $800,000 price adjustment to attract serious, qualified buyers in the upper-tier Miami Beach market.
Interior Design & Artistic Highlights
- Living Room: Features a dramatic, champagne-toned mirrored ceiling that amplifies natural light, paired with sculptural vintage furniture and direct, unobstructed sightlines to the Atlantic Ocean.
- Kitchen: Outfitted with warm wood cabinetry, complemented by striking pink-onyx countertops and open shelving that merges utility with high-end aesthetic appeal.
- Murals and Hallways: Adorned throughout the bedrooms and corridors with custom, hand-painted murals by acclaimed Argentine artist Augusto Falopapas.
- Overall Décor: A deliberate departure from coastal minimalism, incorporating bold contemporary artworks, vintage botanical imagery, striped statement lamps, and rich patterned textiles.
Official Responses and Brokerage Insights
Transitioning a high-profile luxury property back to the market requires a strategic realignment, particularly when shifting from an experimental launch price to a figure designed to capture immediate market attention. While the seller, Ximena Caminos, has maintained a curatorial focus on the residence, the brokerage team at Compass has stepped in to orchestrate its second act.
Carl Gambino and Andrew Kardonski, who hold the newly minted $6.9 million listing, recognize that the property appeals to a very specific type of buyer—one who values cultural heritage and artistic expression over sterile, white-box luxury.
"This is not just another standard oceanfront condo," industry analysts observing the listing note. "Properties in buildings like The Caribbean carry a soul and a historical narrative that newly constructed glass towers simply cannot replicate. When you layer Ximena Caminos’s curatorial genius on top of an L. Murray Dixon Art Deco masterpiece, you get a product that is entirely singular."
While formal statements from the brokerage emphasize the unmatched value of the massive 3,500-square-foot rooftop terrace—which rivals the outdoor spaces found in standalone single-family estates—the core marketing narrative centers on lifestyle and identity. The home is pitched as an incubator for creativity, designed to resonate with collectors, tastemakers, and individuals who view their living space as an extension of their personal art collection. By adjusting the price downward by $800,000, the listing team has positioned the penthouse to capture heightened interest from buyers who previously tracked the property during its 2024 debut but hesitated at the higher threshold.
Implications
The relisting of Ximena Caminos’s Miami Beach penthouse for $6.9 million carries several notable implications for the broader South Florida luxury real estate market, touching on design trends, pricing psychology, and the evolving expectations of high-net-worth buyers.
The Shift Away from Minimalist Uniformity
For over a decade, the luxury condo market in Miami has been dominated by a relentless wave of minimalist aesthetics—all-white color palettes, sleek Italian porcelain tiles, and ultra-modern finishes designed to maximize neutrality. Caminos’s penthouse serves as a high-profile counter-narrative. By successfully merging two units into a cohesive, maximalist environment rich with pink onyx, champagne mirrored ceilings, and hand-painted murals by Augusto Falopapas, the property proves that there is a thriving, albeit niche, appetite for homes with distinct, uncompromised artistic identities. The market’s reaction to this $6.9 million offering will provide valuable insight into whether luxury buyers are increasingly willing to embrace eclectic, personality-driven spaces over blank canvases.
Pricing Realities in High-End Coasts
The transition from a $7.7 million initial ask to a $6.9 million repositioned price highlights a broader trend across premier U.S. real estate markets. Even ultra-wealthy buyers are exercising strategic patience, demanding pricing alignment that reflects current economic shifts and inventory levels. For unique, non-standard properties, finding the precise monetary intersection between high design and market demand often requires a measured recalibration.
The Preservation and Evolution of Historic Architecture
The penthouse also underscores the ongoing demand for adaptive reuse properties in Miami Beach. As land becomes increasingly scarce along the Atlantic shoreline, historic structures designed by masters like L. Murray Dixon are receiving renewed appreciation. By fusing the architectural charm of 1941 Art Deco design with modern luxury amenities and avant-garde interiors, properties like The Caribbean demonstrate how historic Miami Beach real estate can successfully reinvent itself for contemporary titans of industry, culture, and art.
Sagoh
Reynand Wu
Siti Muinah
