Penthouse at Four Seasons Residences in Surfside Sold for 40% More Than the Last Sell Price
A penthouse at the Four Seasons Residences at The Surf Club recently sold for $29.4 million, nearly 40% more than it did just four years prior.
Keyla Holdings LLC sold the penthouse in the south tower at 9001 Collins Avenue in Surfside to EH 2022 LLC. Josh N. Bennett, a real estate lawyer in Fort Lauderdale, is in charge of running Keyla Holdings, while Ackerman, Pachman, Brown & Goldstein LLP, a law firm in East Hampton, is in charge of running EH 2022.
The buyers and sellers for this transaction are still unknown. According to documents, the buyer financed the off-market acquisition with a $20 million mortgage from JPMorgan Chase.
At about $29.4 million the unit equates to $5,180 price per square foot. The sale was mediated by Ximena Penuela of Fort Partners, a developer.
The five-bedroom, eight-bathroom, 5,675-square-foot penthouse was previously sold for $20.8 million in 2018.
After Fort Partners finished building the Surf Club neighborhood in 2017, it attracted a lot of notables including Frank Sinatra, Winston Churchill and many more. The development includes 150 residences, a 72-room Four Seasons hotel, and a restaurant owned by Thomas Keller, the founder of French Laundry.
Actress Lynda Carter, who played Wonder Woman, is one of the current owners after spending $15 million on apartment 903 in the south tower in 2016. Thala and Tommy Mottola, the “Queen of Latin Pop” and former CEO of Sony Music Entertainment, sold their Surf Club condo a few months ago for $10 million.
Pat Riley, a former Miami Heat player, and his wife Christine most recently sold their Surf Club apartment for $22.8 million, a considerable increase from the $8.1 million they initially paid for it in 2018.
If you or someone you know have an interest in purchasing at The Surf Club, please contact Lucas Lechuga via email at lucas@miamicondoinvestments.com or by phone at (786)247-6332.
Four Seasons Miami Sold for $130 Million
Developer for the Four Seasons Surf Club in Surfside recently purchased the Four Seasons Miami in Brickell for $130 Million. With this purchase, Fort Partners (developer for Four Seasons) now have full control over all of the Four Season properties in South Florida.
The deal was financed through a New York company Madison Realty Capital for a $105 million loan. The full purchase price is unknown but according to the press release, the property traded for close to $130 million. This selling price equals $588,000 per room.
The hotel located at 1435 Brickell Avenue is a part of a 70-story tower that includes residential units, retail, parking, and a gym. The hotel was completed in 2003 and was considered then the tallest tower in Miami.
According to the Managing Principal and Co-found of Fort Partners, their plans are to renovate the hotel. They also want to ‘modernize’ the hotel rooms, lobby, and pool deck. They are also looking for additional food and beverage restaurants/bars to join the brand.
The sellers for the hotel include Westbrook Partner, a New York-based company. They purchased the property 10 years ago with a 3 part deal to eliminate debt on another Miami Property. They originally acquired the property for $40 million. Fort Partners was represented by JLL’s Jim Dockerty, Kevin Davis, and Mark Fisher.
Last year, the tourism industry stood at a pause as well as a dim future. Now, that states have opened up and are allowing travel, we are seeing more hotel transactions. In June, Pebblebrook Hotel purchased Margaritaville Hollywood Beach Resort for $270 million. Allen Morris Company, Stormont Hospitality, and Black Salmon teamed up to purchase a Miami Beach hotel for $25.5 million. TPG Real Estate Partners have also purchased 2 hotels in Edgewater for $61 million.
Photo Credit: resortpass.com
Four Seasons Hotel at The Surf Club Opens Tomorrow
Fort Partners’ dramatic redevelopment of Surfside’s historic club, The Surf Club Four Seasons, is slated to open tomorrow. The project is an ambitious mix of history combined with modern design by Richard Meier. We toured the project this week and were blown away at how well the project has come together.
The Surf Club Four Seasons is going to be delivered in sections, with the 77 room hotel opening tomorrow. The interiors are designed by Joseph Dirand with light, flowy rooms and lots of green accents. Ocean view rooms will be available for $1,200/night. There is also a section for 31 hotel residences of the same design. These are available for sale and entered into a hotel program if the owner so chooses. Lastly are the private residences in the north and south towers. The north tower will be the first to open just as soon as the TCO (temporary certificate of occupancy) is received. From the looks of the project, this could happen any day now. In front of each tower is a section of poolside cabanas that will be restored to their original glamour. The cabanas and south tower are expected to be completed this fall.
Have a look at the features, finishes and renderings of the apartments:
The Hotel Residences:
The Spa
The Cabanas
Richard Meier’s Surf Club Four Seasons In Surfside Prepares To Open
Bringing a mix of elegant history and contemporary high design, Richard Meyer’s The Surf Club Four Seasons is preparing to open the first of two residential towers. The north tower will open later this month and the south tower will be completed by the end of the year. We have scheduled a tour and are delighted to be one of the first to walk the project once the north tower is complete. Ahead of that tour, here is a preview of the project.
The Surf Club Miami opened on New Year’s Eve back in 1930 and quickly became THE place to be for the international elite. It hosted such guests as Frank Sinatra, Dean Martin, Elizabeth Taylor, the Duke and Duchess of Windsor, General MacArthur and Winston Churchill, who reportedly painted watercolors in his cabana. In 2012, the club had received historic designation yet still sold to a Turkish conglomerate for $116 million. Since that stretch of Miami Beach is limited to a 12 story height limit for new construction and the club was designated historic, it was a mystery what would come next.
The developers soon brought on Pritzker Prize winning Richard Meier to design The Surf Club Four Seasons Private Residences. The creation ofFour Seasons Hotel at The Surf Club combines the glories of the past with the possibilities of the future, bringing the next chapter of this legendary club to life. The club was restored to its original glory with the convenience of modern technology, and added a contemporary towers of residences above. The project currently has only a handful of sales opportunities remaining of the 150 residences, including the 7,000 square foot penthouse for $24.5 million.
Prices start at $3.75 million for a 1 bedroom residence with library, 1,960 square feet of interior space and sweeping views of the Biscayne Bay and Miami skyline. Two, three, four and five bedroom residences range from $3.8 million to $15.9 million.
We are very excited to see how Mr. Meier brought the history ofFour Seasons Hotel at The Surf Club together with contemporary design! Here is a sneak peek from the renderings:
THE RESIDENCES
THE HOTEL
THE CABANAS
THE SPA
FOR THE CHILDREN
THE PENTHOUSE
Surf Club Four Season’s North Tower Nearing Completion
The contemporary redesign of Surfside’s historic and glamorous Surf Club is coming right along. According to building representatives, the Surf Club Four Seasons Residences’ North Tower is nearly completed and closings are projected to begin in February 2017.
This summer, we took a peek at the construction progress via drone video, which can be seen here.
It has also been reported that famed chef Thomas Keller is planning a restaurant within the project. The Four Seasons hotel is scheduled to open in 2018 and although the Thomas Keller restaurant will not be directly affiliated with the hotel, it promises to bring the glitz and glamor back into dining.
Flying Over Richard Meier’s Surf Club Four Seasons in a Drone
The combo historic and contemporary The Surf Club Four Seasons is nearing completion in the heart of Surfside since its topping-off over a year ago. As you can see in our latest drone video, the new condominium and hotel towers, which were designed by Kobi Karp Architecture & Interior Design in collaboration with starchitect Richard Meier, have been entirely glazed, while significant exterior and landscaping work remains on the lower floors as well as the exterior of the historic, Russell Pancoast-designed private club structure at the heart of the project. Meanwhile, across A1A, the inland side of the project (the low-rise contemporary block) appears virtually complete. The whole thing should be done this winter.
The project will include an 80 room Four Seasons Hotel as well as two 12-story residential towers, which Real Deal reported in June were 80% sold out. Unit prices range from $3.4 million to $18 million, and top out at more than 7,000 square feet in size. Meanwhile, Fort Partners, the developer, is obviously happy with its starchitect. They’ve kept Meier on to design the two residential towers they have proposed to build over the Miami Beach Marina in South Beach.
