The Real Deal Miami

Who’s moving into Ian Schrager’s Miami Beach EDITION?

More than half the luxury condos were purchased, prices up to $17.5M

January 05, 2015 02:15PM
By Francisco Alvarado

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Rooftop residence at Miami Beach EDITION

Rooftop residence at Miami Beach EDITION

An eclectic mix of local, out-of-state and foreign buyers, including a Bollywood star, a New York City power couple and a Boca Raton collections agency mogul, have purchased 53 percent of the 26 luxury condos designed by John Pawson at the Miami Beach EDITION hotel.

Buyers began picking up units in hotelier Ian Schrager’s latest vision for ultra-exclusive luxury living in October, three months ahead of the EDITION’s soft opening during Art Basel week.

Schrager teamed up with Marriott to redevelop the former site of the Seville Hotel at 2901 Collins Avenue. The condos are located in a newly built 18-story tower adjacent to a landmarked building from the 1950s with 294 hotel rooms. The residences and hotel have separate doors, with the condos also having an anonymous “celebrity” entrance.

According to Miami-Dade county public records, the buyers are:

The Doobins

Stanley K. and Nathalie R. Doobin

Stanley K. and Nathalie R. Doobin

He’s the owner, president and CEO of Manhattan-based Harvard Maintenance, a national property management company that produces more than $260 million in annual revenue. She’s the owner, president and CEO of Harvard Service Group, a building services contractor based in Iselin, NJ. The Doobins bought unit 1402 for $5.2 million on December 3 and took out a $2.6 million loan from Bofi Federal Bank to partly finance their purchase.

William S. and Lauren B. Weisman

He’s a partner with Williams, Babbit & Weisman, a corporate collections agency based in Boca Raton. Weisman and his wife purchased unit 1409 for $3 million on November 13. The couple obtained a $1.9 million mortgage from Comerica Bank to partly finance the transaction.

Poonam Khubani

Poonam Khubani

Poonam Khubani

The Bollywood actress, producer and vice-president of infomercial giant Telebrands, purchased unit 1601 for $17.5 million and 1602 for $16.5 million on Dec. 1. The Poonam Khubani Revocable Family Trust also obtained two mortgages from Bank of America for $10 million each to partly finance her EDITION purchases.

Jon Rappaport

A Miami Beach veterinarian who owns eight animal hospitals in South Florida and founded the website,  Rappaport paid $4 million for unit 1206 on Dec.11. Rappaport  secured a $1.5 million loan from Wells Fargo Bank to partly finance his purchase.

Dominic Marzano

The co-owner of Pompano Beach-based waste management firm Atlas Recycling bought unit 1403 for $2.4 million on Nov. 25.

MMHKK Properties

An entity located in the Epic Hotel at 270 Biscayne Boulevard Way, MMHK bought unit 1207 for $2.2 million on Dec. 10. Florida corporate records lists Anthony Kristoff as the manager of MMHK and Monica Kristoff and Maria Milagros Hernaez as members.

Garetown USA LLC

A Delaware Corporation listing an address in Geneva, Switzerland, paid $4.75 million for unit 1401 on Dec. 4.

Fondaco USA Corp.

An entity located at 150 Southeast Second Avenue in downtown Miami, Fondaco paid $4 million for unit 1205 on Dec. 4. Florida corporate records list Oscar Marchetto of Oderzo, Italy, as a director of Fondaco.

Sobe EDITION Estates LLC

An entity listing Olga Tsinker of 9111 East Bay Harbour Drive in Bay Harbour Islands as its manager, according to Florida corporate records, purchased unit 1407 for $14 million on Dec. 3.

SB Miami Properties

The entity, which lists Sandra Hoffen of 1001 Brickell Bay Drive in Miami as its manager on state corporate records, purchased unit 1406 for $6.6 million on Nov. 25.

Stephan Lynch

Lynch, whose address is in Moskva, Russia, paid $2 million for unit 1408 on Nov. 14.

Collins Condo Unit 1501 LLC and Collins Condo Unit 1202 LLC

Both entities purchased units 1501 and 1202 for $10.5 million and $8 million, respectively, on Oct. 22. The Collins Condo corporations list Kim Davenport, a psychiatrist from Annadale, Va., as its manager.