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MIAMI-Goldman Sachs Group CEO Lloyd Blankfein and Apollo Global Management LLC co-founder Leon Black are reportedly among the advance buyers of luxury units at the $1-billion Faena Miami Beach development here.

The 18-story project being developed by the Faena Group, will feature 47 residences priced at $3 million to $50 million as well as two luxury hotels. Also part of the development will be an arts center designed by Pritzker Architecture Prize winner Rem Koolhaas.

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