The Real Deal Miami

Brazilian financial head flips Key Biscayne condo

He paid $5.5M for the condo in September 2014

November 18, 2015 02:15PM
By Katherine Kallergis

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Oceana Key Biscayne

Oceana Key Biscayne

A Brazilian banking executive made $2.75 million on a unit at Oceana Key Biscayne that he purchased last year, Miami-Dade County records show.

Jose Olympio da Veiga Pereira, who has ties to Credit Suisse in Brazil, sold unit 120N for $8.25 million to Orion Heights LLC.

Pereira paid $5.5 million for the 3,787-square-foot unit in September 2014 when the 154-unit project began recording closings. It has four bedrooms, six bathrooms and one half-bath, according to property records. In a Harvard Business School luncheon invitation, Pereira was described as managing director of Credit Suisse and head of investment banking in Brazil.

Consultatio developed the luxury oceanfront condominium at 350 Ocean Drive. More than 90 percent of its units sold for more than $550 million last year. Oceana Bal Harbour sits on 10.3 acres and includes 12 villas, 500 feet of beach frontage, a pool deck, gym, putting green, spa and tennis courts.

The Argentine developer is also building Oceana Bal Harbour, which closed on a $332 million construction loan in April 2014.

The buyer is a Key Biscayne-based LLC that is tied to a company in Aruba, state records indicate. The island town of Key Biscayne has a population of about 12,000. Projects include 101 Key Biscayne and the contentious Miami Marine Stadium site.