The Real Deal New York

Related’s Jorge Perez buys SoFla condo

January 13, 2014 05:15PM

From the South Florida site: South Florida’s biggest developer Jorge Perez apparently believes strongly enough in Related Group’s Apogee Beach to buy his own condo at the Hollywood building, The Real Deal has learned.

The CEO of Related Group, sister to Related Companies in New York, paid $2.1 million for Unit 2401 at The 3951 South Ocean Drive building, according to Broward County records. Perez closed on the purchase of the 5,051-square-foot condo on Dec. 20. The county recorded the transaction on Friday.

No financing was recorded.

The 22-story Apogee Beach was one of South Florida’s first condo developments launched after the real estate downturn. Construction began in December 2011. Related announced in June 2012 that more than 90 percent of the units at Apogee had been presold.

Apogee Beach was completed last fall. — Eric Kalis