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South Florida

Fairchild Partners arranges $7.5M sale on Collins Avenue

1350 Collins Avenue courtyard and Jonathan Lay of Fairchild Partners
1350 Collins Avenue courtyard and Jonathan Lay of Fairchild Partners

The Orchid House, a luxury compound in Miami Beach, was purchased by an undisclosed Italian group.

Jonathan Lay of South Florida-based Fairchild Partners represented the buyers for the $7.5 million deal, announced on Tuesday.

The group has been purchasing property in the area and it plans on keeping The Orchid House running as is for now, Lay told The Real Deal.

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The Mediterranean-style mansion is made up of three buildings housing five villas on a 7,000-square-foot lot. Lay told TRD that all five villas are usually rented at once.

The villas surround a 2,500-square-foot courtyard with a covered pool. The Orchid House, located at 1350 Collins Avenue, last sold for $3.9 million in December 2013, according to Miami-Dade property records. It was built between 1925 and 1930.

Susan Gale of ONE Sotheby’s International Realty represented the seller, Ventura Holdings. Orlando and Gladys Valdes are registered officers on the Miami Beach-based company’s corporate filings.

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Collins AvenueFairchild Partners