Tim Headington Asks $25 Million in South Beach
January 27, 2012 - Florida
Billionaire Tim Headington is asking $25 million for a Miami Beach penthouse suite next door to a unit owned by Dallas Mavericks owner Mark Cuban.
Mr. Headington, an oil magnate who now produces and finances movies including "Hugo," bought the property for $12 million in 2007 from the estate of Almon Glenn Braswell, the late businessman.
The 11,962-square-foot space originally existed as four separate units on the 16th floor of the Michael Graves building on South Beach.
Mr. Headington combined three of the units to create the 8,262-square-foot penthouse, which has a circular all-glass living area, ocean views and wine as well as Champagne tasting rooms.
Staircases in each of the five bedrooms lead up to a roof terrace, which encases a Jacuzzi, life-size chess board and dining area.
Mr. Headington, who is based in Dallas, also renovated the remaining 3,700-square-foot unit on the same floor and will continue to occupy it. Eloy Carmenate of One Sotheby's Realty has the listing.
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