B
illionaire Robert Duggan and his partner/co-CEO Dr. Mahkam Zanganeh have set a price record in Miami with their $33 million purchase of an 11,000-square-foot penthouse at Echo Brickell. The five-bedroom, seven-and-a-half-bathroom condo was sold by Greg Kiley, chairman and CEO of Ohio-based Velocity, who had it on the market for nine months. Compass agents Chad Carroll and Matthew Dugow represented the seller, while Engel & Völkers' Stephan Hermida represented the buyer.

    The penthouse features six parking spaces, two storage units, an indoor sky pool, and 28-foot ceilings. The sale surpasses previous condo sales records in Miami, excluding new development deals. However, several luxury projects currently under construction or presale could potentially break this record once completed.

    Duggan's net worth is estimated at $13.1 billion, largely due to the significant rise of Summit Therapeutics' stock price this year, which has increased by nearly 700 percent according to Bloomberg. As co-CEO and president of Summit, Zanganeh previously led a team that developed a treatment for various blood cancers while working at Pharmacyclics in California.