Miami New Times collage. Building photo by Phillip Pessar via Wikimedia Commons. Marc Anthony photo by Sayre Berman.
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Marc Anthony may be used to chart-topping hits, but in one of Miami’s most prestigious towers, he just took a financial loss. The Grammy-winning salsa singer has sold his residence in the One Thousand Museum condo tower in Downtown Miami for $8.6 million, down from the $11 million he paid in 2021, according to the WSJ.
The 8,400-square-foot unit boasts five bedrooms, floor-to-ceiling windows with sweeping views from Biscayne Bay to the Atlantic, a private elevator, a double-height living room, and a large terrace, underscoring the sought-after luxury status of the property. The building itself, designed by the late architect Zaha Hadid, is one of Miami’s most iconic residential addresses.
Anthony originally listed the property for $11.5 million shortly after acquiring it, and at one point asked as high as $13.7 million before gradually reducing to $9.9 million, eventually closing at the lower number. The buyer remains undisclosed.
While a multimillion-dollar loss might look bad at first glance, it aligns with broader trends in South Florida’s luxury condo market. According to a recent analysis by WLRN, Miami is once again ranked the riskiest major housing market in the world, thanks to a combination of rapid price jumps, slowing growth, and rising inventory. UBS Global Wealth Management noted that the region’s housing stock showed signs of “a substantial and sustained mispricing” of homes. Median single-family home prices in South Florida jumped by at least 70 percent since mid-2019, while nationwide they rose about 50 percent.
Although analysts are cautious, this doesn’t mean an imminent crash; they agree that risk levels are elevated and growth has slowed considerably, even as new condominiums continue to enter the market. Put simply, high-end condos like Anthony’s unit face a tougher climate now, particularly when their premium pricing is harder to sustain amid softening demand.
Anthony’s Miami condo sale follows another South Florida transaction of his. In 2021, he sold a 12-bedroom Coral Gables mansion for over $22 million, after purchasing it for around $19 million. That sale came with a modest return in a still-hot single-family home market, but the condo sector has been more exposed to price pressure as inventory has grown and buyer enthusiasm cooled.
One Thousand Museum itself opened in 2019 and set a high-water mark for luxury living in Miami, featuring amenities like a helipad, indoor and outdoor pools, and its distinct diamond-patterned concrete exoskeleton. With A-list residents such as David and Victoria Beckham, the building has become a symbol of prestige. Still, even a property of that stature isn’t immune to macroeconomic headwinds, from increased competition and higher mortgage and insurance costs to the influx of new luxury developments across the city.
For Marc Anthony, the sale underscores an important truth: no matter how iconic the building or how star-studded the ownership, real estate is subject to cycles. He may have taken a multimillion-dollar hit, but selling now could spare him from further volatility as Miami’s condo market recalibrates.
