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The Real Deal Miami

Fatio-designed home sells for $19.8 million

By Alexander Britell | July 19, 2011 05:35PM

A Florida buyer has purchased one of the few remaining designs of
architect Maurice Fatio for $19.8 million in a deal that closed today.

Farid Moussallem, an agent at One Sotheby’s Realty, represented the buyer,
Sunset Aqua 1736 in the deal, for 1736 West 28th Street in the Sunset
Islands of Miami Beach.

“The high end [in Miami Beach] is going strong,”
Moussallem said. “Despite the slowdown, we’ve had record-breaking sales
that we haven’t even seen in a long time.”

The seller was the trustee
of George Lindemann, Jr, who was represented by Jill Hertzberg, a
broker-associate with Coldwell Banker. She could not be reached for
comment.

The price for the 11,388-square-foot manse works out to an
average of $1,738 per square foot. Moussallem said the property had been
listed on and off for approximately two years and the last listing was 299 days ago, for $25 million.

“It’s a very unique property; it was
built in 1936 and it still has that character,” he said.

Fatio was a
landmark architect in both New York and Florida. He died in 1943. Among
his designs were the home of David Rockefeller in New York City and
several estates in Palm Beach.