The Real Deal Miami

Late real estate tycoon’s Aventura penthouse sells after $3.3M price cut

The trust of Steven Posner, who died boating in 2010, listed the property for $7.95M

August 06, 2013 01:00PM
By Emily Schmall

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Bella Mare Tower, 6000 Island Blvd., and Steven Posner

Bella Mare Tower, 6000 Island Blvd., and Steven Posner

The Williams Island penthouse of the late South Florida real estate tycoon Steven Posner has sold for $4.65 million, after a $3.3 million price reduction and nearly 21 months on the market, Aventura’s highest recorded sale in two years, brokerage Fortune International Realty told The Real Deal.

Originally listed for $7.95 million in November 2011, the listing transferred last December to Fabian Garcia-Diaz of Fortune, who immediately cut the price on the 6,377-square-foot unit in the Bella Mare Tower by $1 million, as TRD previously reported.

The sale August 1 to Noah and Patricia Breakstone represented a 33 percent discount off the last listed price. Garcia-Diaz was out of the country and not available for comment.

Posner, the son of corporate raider Victor Posner and a prominent South Florida businessman and philanthropist, died in a 2010 boat collision on his 44-foot rum runner in Biscayne Bay. His sister, Gail Posner, also deceased, had left her $8.3 million Miami Beach mansion to her dogs earlier that year.

Posner, a cars and boats enthusiast, purchased the penthouse from developer WCI Communities Inc. for $3.35 million in December 2006, public records show. The property features a 4,000-square-foot roof terrace with a “tropical rock waterfall” that spills into the pool and jacuzzi.

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