Miami Beach penthouse hits market with $20 million price tag

MIAMI BEACH, FL -- The listing reads: For sale, top floor, eight bedrooms, sweeping views of the ocean and Miami. Price, just $20 million.

That's what they're asking for the largest penthouse now on the market in Miami Beach, Florida.

Called the "Blue Diamond" penthouse, the condo has nearly 15,000 square feet on two floors, with 8 bedrooms, 11 baths, two kitchens and your own rooftop pool. It has 360 degree views and sits on 500 feet of beachfront in Miami Beach.

Realtors say the $20 million price tag is further proof of how Miami's real estate market has turned around since 2008. And people are once again flipping homes at an incredible rate.

By the way, if you put down 20% ($4 million) on the Blue Diamond penthouse, your mortgage payment on the $16 million loan at current rates would be just $77,000 a month for 30 years.