Short Seller Jim Chanos Headed for Big Profit on Miami Beach Condo

Investor Jim Chanos, known in financial circles for his short-selling savvy and a noted collector in the art world, has spent the last couple of years thinning (and attempting to thin) his small collection of lavish homes.

Two years ago, he sold an oceanfront estate in the Hamptons in an off-market deal valued at almost $60 million, and earlier this year, he listed his art-filled triplex penthouse in Manhattan at $23.5 million, substantially lower than the $34 million he asked in 2019. Now, after two decades of ownership, he’s put a $21 million price tag on a spacious 22nd-floor condo in a luxury tower at the southernmost tip of Miami Beach.

Chanos, who bet correctly on the collapse of Enron in 2001, can expect an excellent return on his money in South Beach; tax records show he purchased the condo in 2003 for $3.12 million.

The nearly 4,800-square-foot aerie, in the southern tower of the 13.5-acre Continuum complex in South Beach’s South of Fifth neighborhood, has multiple balconies and floor-to-ceiling walls of glass with southwestern views that sweep over the Atlantic and across the Government Cut to Fisher Island and the Miami skyline.

There are three bedrooms, two offices, and a media room, along with a vast combination living and dining room that seems to float above the water. The kitchen, spacious and arranged around an island countertop, is open to the family room and breakfast area.

A fourth-floor studio apartment is also on offer, separately priced at $1.85 million, and a sweet beachfront cabana can be had for an additional $2.75 million.

In a statement provided to DIRT, Chanos says he loves living in south Florida and plans to move his empty-nester household to a single-family home in the Coral Gables/Coconut Grove area.

The condo is listed with Julian Johnston, Crystal Connors, Mick Duchon, & Eloy Carmenate, all of The Corcoran Group.