The Real Deal Miami

Vonage founder pays record $8.95M for Singer Island condo

Jeffrey Citron is reportedly worth more than $100M

July 27, 2015 03:45PM
By Katherine Kallergis

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Ritz-Carlton Singer Island condo and Vonage founder Jeff Citron.

Ritz-Carlton Singer Island condo and Vonage founder Jeff Citron.

The founder of Vonage paid $8.95 million at the Ritz-Carlton Residences Singer Island, The Real Deal has learned. 

Jeffrey Citron beat out the previous Singer Island record of $8.8 million. Citron, reportedly worth more than $100 million, founded the Internet telephone service company and was appointed chairman of Vonage in 2001.

He bought the remaining Tower Suite at the Ritz, which features four bedrooms and five-and-a-half bathrooms. The turnkey, 9,180-square-foot unit includes 7,445 square feet of interior space and a 1,735-square-foot terrace. Among the features: a grand master suite, a private elevator foyer, a formal dining room, a bar area, family room, den and sitting room, developers said.

The Ritz-Carlton Residences Singer Island is a twin-tower condo complex at 2700 North Ocean Drive. Formerly known as 2700 North Ocean, the buildings were re-branded as Ritz-Carltons by owner Lionheart Capital, which paid $117.3 million to acquire 146 unsold condos in the complex.