Kanye West is known for his gift giving and a new report claims the rapper gifted wife Kim Kardashian with a $14 million Miami condo for Christmas!

This sounds like a clever PR stunt by the developer to us, but here it goes ... TMZ reports Kimye have been looking for a south Florida residence for a while (which could be true -- for tax purposes) and West finally decided on a penthouse unit in the new Faena House. It's an 18-story luxury building in South Beach with amenities like a gym and spa. The couple have reportedly entered escrow on a 4-bedroom, 5.5-bath, 4700-square foot unit with direct ocean views, floor-to-ceiling windows, and a wrap-around terrace.

Check out our photo gallery of the model penthouse below ... tres chic!