Jay Schottenstein, the billionaire chairman and CEO of American Eagle Outfitters, has decided to part ways with his stunning South Florida penthouse located on the barrier island of Key Biscayne, just off the coast of Miami. After owning the property for more than 15 years, Schottenstein is asking for just under $34 million for the luxurious beachfront residence at the prestigious Grand Bay Tower. The listing is jointly held by Brigitte Nachtigall of ONE Sotheby’s International Realty and Ohad Fisherman of the Fisherman Group.
A Unique Miami Penthouse
Schottenstein and his wife, Jeanie, initially acquired a single penthouse at Grand Bay Tower in 2007 for $5 million. However, they later purchased an additional penthouse unit and spent five years merging the two spaces, which now make up a remarkable 10,400 square feet of living area. The residence occupies the prime northeast and southeast corners of the 14-story building, offering panoramic views of the Atlantic Ocean, Biscayne Bay, and the Miami skyline.
Design and Features
Designed by renowned architect Geoffrey Bradfield, the expansive four-bedroom, six-bathroom penthouse boasts a seamless blend of style and sophistication. The interior is adorned with sleek marble floors, high wood-paneled ceilings, and custom-built cabinetry throughout. Floor-to-ceiling windows flood the space with natural light, while over 3,200 square feet of wraparound terraces provide a front-row seat to some of Miami’s most breathtaking views.
The heart of the home is the open-concept living area, which features a grand mosaic mural and is complemented by two private elevator landings. The formal dining room leads into a gourmet kitchen equipped with dual islands, premium stainless-steel appliances, and a cozy breakfast nook perfect for enjoying the morning views. The opulent primary suite includes a luxurious bath with a floating spa tub and glass-encased shower, creating a spa-like experience in the comfort of home.
Additional Amenities
Beyond the primary living areas, the penthouse offers a host of additional spaces designed for both work and leisure. Two private offices make this home ideal for professionals who work remotely, while the entertainment-ready family room comes complete with a seated bar. For those who value fitness, the home also features an outdoor gym, a wine storage room, and separate staff quarters.
Community Features and Luxury Living
Living at Grand Bay Tower means enjoying a wealth of amenities, including 24-hour security with a guarded entrance shared with the neighboring Ritz-Carlton resort. The $10,632 monthly HOA fee covers these security services, as well as five parking spaces and access to a secluded beach. These features ensure an exclusive lifestyle, making this property an enviable choice for those seeking the ultimate in South Florida luxury.
A Well-Connected Billionaire
Jay Schottenstein, a prominent figure in retail, is part of a wealthy Ohio-based family with a diverse business empire that includes American Eagle Outfitters, American Signature Furniture, and DSW. Despite his decision to sell this South Florida property, Schottenstein maintains other residences in the Miami area and a large estate in his hometown of Columbus, Ohio.
For more information or to inquire about this luxurious penthouse, contact Brigitte Nachtigall of ONE Sotheby’s International Realty or Ohad Fisherman of the Fisherman Group.
This oceanfront estate on Key Biscayne presents a rare opportunity to own a piece of Miami’s most exclusive real estate. With unparalleled views, world-class design, and a wealth of amenities, it truly represents the pinnacle of South Florida luxury living.
