Miami is certainly no stranger to high-priced real estate, but a record condo sale has shown yet again why the Magic City currently boasts one of the nation’s hottest housing markets.

The Miami real estate market has been on an absolute tear the last two years, with every passing month producing better and better news about housing in the Magic City. From a record-breaking $47 million home sale in 2012 to  a 10.6 percent uptick in home prices in December, Miami’s real estate recovery has been widespread, and news this week shows that it has just touched another sector of the housing market: condominiums.

According to reports, a homebuyer has purchased two condos in the gorgeous Miami Beach Edition condominium for a $34 million total, making it the most expensive condo sale ever in South Florida. According to Curbed Miami, that comes out to an incredible $3,800 per square foot, or almost three times te normal rate for luxury housing in Miami.

And the biggest kicker of all? Miami Beach Edition is not even complete yet. The unit will open in 2014, so this record-breaking purchase seems to be a pure, inspiring case of real estate speculation.

Courtesy of Business Insider, here are some great shots of how the unit will look when it opens next year.