The Real Deal New York

Soho gallery owner snags Residences at Bath Club condo

Louis Meisel pays $5M for unit at Don Peebles-developed complex in Miami Beach

September 16, 2014 01:35PM
By Eric Kalis

meisel

From left: Don Peebles, Residences at Bath Club and Louis Meisel

From the South Florida website: A New York company tied to the Soho art gallery of photorealism pioneer Louis Meisel paid $5 million for a four-bedroom condo at the Don Peebles-developed Residences at the Bath Club in Miami Beach, The Real Deal has learned.

Meisel’s Slam It LLC picked up the 4,600-square-foot unit at 5959 Collins Avenue in a transaction recorded on Thursday, according to Miami-Dade County records. His 141 Prince Street gallery is identified in the deed as the buying company’s mailing address. No financing was recorded.

The sellers, Luis and Jennifer Villa enjoyed a nice profit on the sale. They paid about $1.8 million for the condo in August 2012. The unit previously traded for $3.4 million in January 2006, shortly after Peebles completed the project.

A Brooklyn native, Meisel coined the term photorealism during the late 1960s. It refers to paintings that appear to be photographs in their finished form.

Meisel’s 20,000-square-foot gallery has one of the world’s largest pin-up art collections. Meisel sold a ground-floor retail co-op at 131-135 Prince Street in Soho for $50 million last month, as The Real Deal reported.

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