Record-Breaking $44M Sale for Oceanfront Penthouse at Surf Club Four Seasons in Surfside
Updated: Nov 11, 2024
An oceanfront penthouse at the luxurious Four Seasons Residences at the Surf Club in Surfside, Miami, has sold for a record-setting $44 million. This 7,300-square-foot residence, boasting five bedrooms, a yoga room, gym, outdoor garden, and an impressive 75-foot rooftop pool, has established a new high for condo sales at the exclusive development.
The Four Seasons Residences in Surfside. Photo credit: One Sotheby's International Realty
Photo credit: Legendary Productions
The transaction involved PDE 1186 LLC, a Florida entity associated with Apple, as the seller, and G5C Capital Corporation, a Canadian firm based in Ontario, as the buyer. Both parties remain anonymous, with attorney Victoria Nassi representing Apple and signing on behalf of the seller. The listing was managed by Corcoran Group agents Mick Duchon and Eloy Carmenate, while Ximena Penuela of Fort Realty represented the buyer.
Photo credit: Legendary Productions
Originally purchased in 2018 for $29.1 million, the penthouse saw substantial appreciation, selling this time for $11 million below its initial $55 million asking price. This sale surpasses the previous highest transaction at the Surf Club Four Seasons, a $35 million penthouse bought by private equity founder Doug Kimmelman in 2019.
Photo credit: Miami Residence
Completed in 2017 by Fort Partners under the guidance of CEO Nadim Ashi, the Surf Club Four Seasons was designed by renowned architects Richard Meier, a Pritzker Prize laureate, and Kobi Karp. The property includes two 12-story condominium towers, a 72-key hotel, a private club, four swimming pools, and a restaurant by Michelin-starred chef Thomas Keller. The exclusive residences have consistently attracted prominent buyers in recent years, from venture capitalist Ken Seiff, who purchased a $24 million unit in the south building, to Total Wine & More founders Robert Trone and Anna Marie Parisi-Trone, who acquired a unit for $15.9 million.
Photo credit: Legendary Productions
Though overall condo sales in South Florida have seen a dip, the ultra-luxury market remains robust. Just last month, the Shore Club, a planned Auberge-branded development in Miami Beach, reportedly secured a buyer for its $120 million penthouse, which would set a statewide condo sale record if the transaction closes as expected.
This latest sale at the Surf Club Four Seasons highlights continued demand among elite buyers for oceanfront luxury properties, reaffirming the allure of Miami’s prime waterfront real estate.