The CEO of retail giant American Eagle, Jay Schottenstein, is looking to sell his penthouse for $33.9 million in Key Biscayne, Florida.<\/p>\n
The newest listing, represented by Julian Johnston and Jonathan Lifschutz of Corcoran, is Schottenstein\u2019s third attempt to sell the home in the past year, according to listing platforms. <\/p>\n
The home hit the market in late 2024 and earlier this year with the same $33.9 million asking price.<\/p>\n
Jay and Jeanie Schottenstein.
\n Penske Media via Getty Images<\/p>\n
The penthouse home underwent a luxurious redesign in 2017. Immersive Media<\/p>\n
The unit includes 3,000 square feet of terraces. Immersive Media<\/p>\n
Johnston told The Post that the previous two listings were a timing issue.<\/p>\n
The area\u2019s 2024 market was slower, scaffolding covered the building and the $100 million upgrades at the Ritz-Carlton next door were not yet complete.<\/p>\n
Schottenstein combined two penthouses on the top floor to encompass more than 10,000 square feet inside, with an extra 3,000 square feet of oceanfront terraces. Luxury interior designer Geoffrey Bradfield overhauled the home\u2019s interiors in 2017, according to Johnston. <\/p>\n
The barrier island town sits across Biscayne Bay from Miami, with two nature parks on either side lending it a high level of privacy. The town spans a mere 1.2 square miles of land, hosting just over 14,800 residents, according to the 2020 census.<\/p>\n
\u201cA lot of the families get around golf carts, and they go around the back streets,\u201d Johnston said. \u201cSo it\u2019s very neighborhood, family-friendly. <\/p>\n
Despite is small size, Key Biscayne boasts big prices. The coastal town\u2019s median sales price in October totaled $2.32 million, according to Redfin<\/a>, based on just 14 homes sold.<\/p>\n \u201cIt\u2019s got beautiful open bay views, it\u2019s very private, and yet it\u2019s only 15 to 20 minutes away from Miami\u2019s Central Business District,\u201d Johnston said.<\/p>\n The chef\u2019s kitchen. Immersive Media<\/p>\n A large dining area. Immersive Media<\/p>\n A bathroom mosaic. Immersive Media<\/p>\n A gallery-like hallway. Immersive Media<\/p>\n The penthouse features western views of Miami. Immersive Media<\/p>\n Other high-profile residents of past and present include Brad Pitt, Richard Nixon and Cher.<\/p>\n Schottenstein purchased this aerie in 2006 for $5 million, according to property records. The gallery-like residence includes four ensuite bedrooms, a chef\u2019s kitchen, an executive office, staff quarters and extensive parking spaces.\u00a0<\/p>\n In addition to overseeing American Eagle, Schottenstein has served as the chairman of shoe giant DSW since 2005. Schottenstein began his retail career working for his father\u2019s Columbus, Ohio-based business, Value City Furniture. He eventually took over as head of his family\u2019s firm, Schottenstein Stores Corporation.<\/p>\n The Schottenstein family\u2019s Value City Furniture operation in Central Ohio filed for Chapter 11 bankruptcy<\/a> protection a few weeks ago, Columbus outlet 614NOW reported, citing \u201congoing macroeconomic headwinds.\u201d The company is now up for sale, according to the outlet, and plans to cut more than 300 jobs.<\/p>\n The home features \u201ccouture-level\u201d closets, with lots of room for American Eagle jeans. Immersive Media<\/p>\n The popular brand\u2019s stock price got a bump last week with the announcement of its newest ad star. REUTERS<\/p>\n Sydney Sweeney in an ad for the \u201cgood jeans\u201d campaign, which sparked divisive online debates earlier this year. REUTERS<\/p>\n Profits for American Eagle Outfitters, however, are humming along. Shares in the retail giant jumped as much as 4% last week<\/a> when it was announced that Martha Stewart would replace the star of its divisive jeans campaign, Sydney Sweeney. <\/p>\n