The Real Deal Miami

Three-story PH at Jade Beach sells for $7.5M

Buyer heads the Comolatti Group, a Brazilian conglomerate that deals in auto parts

August 28, 2015 12:45PM
By Sean Stewart-Muniz

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Unit 4905 at the Jade Beach condo tower in Sunny Isles Beach

Unit 4905 at the Jade Beach condo tower in Sunny Isles Beach

A Brazilian businessman just paid $7.5 million for a ritzy three-story penthouse in the Jade Beach condo tower in Sunny Isles Beach.

The mansion-sized unit is decked out in all-white finishes and takes up the 49th, 50th and 51st floors of the building. It boasts both city and ocean views through its massive floor-to-ceiling windows that are present in almost all of its rooms, and there are designer touches throughout — from the grand piano in the living room, to ultra-modern furniture and accent pieces.

It has roughly 5,800 square feet of balcony space, including a plethora of outdoor furniture and a hot tub overlooking the ocean, plus a private elevator inside the unit.

The unit itself measures 8,210 square feet and has seven bedrooms, six bathrooms and one half-bath.

It was last sold in 2009 for $6 million to a company named Group M Real Estate, headed by David, Joe and Dina Mizrahi.

Listing agent Adam Redolfi of Barnes International

Listing agent Adam Redolfi of Barnes International

A year later, it was put up for sale with an asking price $11.4 million, but suffered price cuts after stagnating on the market. Most recently, the unit was listed for $8.5 million in July of this year with Adam Redolfi of the Barnes International. A pending sale was recorded in early August, and it closed on the 21st of this month. Redolfi told The Real Deal that the buyer had signed a contract within two weeks of the listing hitting the market.

MLS data, procured by Redolfi, shows that this was the second-highest resale of a condo in Sunny Isles Beach behind an $11.6 million unit at Acqualina. 

The buyer is an LLC that shares the name of the unit, Jade 4905, and is managed by Sergio Comolatti.

Comolatti is a Brazilian businessman who leads a conglomerate called the Comolatti Group, which deals in automotive parts and is based in Sao Paulo. The group was founded in 1957 by his father Evaristo, an Italian immigrant, and was later passed on in 1991 to Sergio.