$22 Million Miami Penthouse Will Test Luxury Real Estate Market

A new listing for a Miami Beach penthouse should provide an interesting benchmark for the state of the Miami market. Modestly billed as "one of the most prestigious south Florida penthouses ever," the 6,853-square-foot (636 square meter) apartment is priced at $22 million, which is a bold number for these stock-market-crashing days.

The penthouse in the Apogee tower includes six bedrooms, a pool, private elevator, staff quarters and 11,000-square-feet of terrace space, including a rooftop "palazzo," according to a press release. The listing calls it "arguably the greatest luxury condo residence to ever ascend on the Miami real estate landscape," and they wouldn't exaggerate, would they?

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