The Real Deal Miami

British tycoon wants to flip his Beach House 8 unit for $8.3M

Lalvani paid $5.63 million for unit 200 in June

October 07, 2016 12:45PM
By Katherine Kallergis

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Beach House 8. (Inset: Lisa Haydon and Dino Lalvani, credit David M. Benett/Getty Images)

Beach House 8. (Inset: Lisa Haydon and Dino Lalvani at a costume event, credit David M. Benett/Getty Images)

British telecommunications tycoon Dino Lalvani listed his Beach House 8 unit in Mid-Miami Beach for $8.3 million. 

Records show Lalvani closed on unit 200 for $5.63 million in June. Lalvani, the son of British entrepreneur Gullu Lalvani, is chairman of Binatone Telecom, his father’s company.

One Sotheby’s International Realty’s Daniela Bonetti, who handled preconstruction sales for the eight-unit project, is listing the unit at 3651 Collins Avenue for sale or for rent at $32,000, she told The Real Deal.

Lalvani’s 3,783-square-foot, full-floor condo is asking $2,194 a foot for sale and $8.50 a foot for rent. Bonetti said her client decided to list the unit because “he’s not coming to Miami as much as he anticipated.” He spends most of his time between London and Hong Kong, she said.

Lalvani, who recently married Bollywood actress Lisa Haydon, installed a summer kitchen, wood floors, custom closets and modern finishes to his four-bedroom, four-bathroom unit. The smart home also has a 3,000-square-foot terrace with a retractable canopy.

“At this point, seeing what’s happening in the market, I would say [the target buyer] is more people up north,” Bonetti told TRD. “We’re all looking for those buyers.”

Developers Ugo Colombo and Valerio Morabito completed the boutique project in late May. Since then, recorded owners include Brazilian entrepreneur Mario Garnero, Darden Corp. CEO James Lillie, an undisclosed European businessman and a Cayman Islands-based company.

Garnero also wants to flip his penthouse unit, which he relisted for nearly $22 million in August. The building, designed by Arquitectonica, now has seven units after the Cayman Islands-based LLC combined the fourth and fifth floors. Each unit at Beach House 8 spans an entire floor.

Here are more photos of Lalvani’s unit: