Late real estate tycoon’s Aventura penthouse sells after $3.3M price cut

The trust of Steven Posner, who died boating in 2010, listed the property for $7.95M

TRD MIAMI /
Aug.August 06, 2013 01:00 PM

The Williams Island penthouse of the late South Florida real estate tycoon Steven Posner has sold for $4.65 million, after a $3.3 million price reduction and nearly 21 months on the market, Aventura’s highest recorded sale in two years, brokerage Fortune International Realty told The Real Deal.

Originally listed for $7.95 million in November 2011, the listing transferred last December to Fabian Garcia-Diaz of Fortune, who immediately cut the price on the 6,377-square-foot unit in the Bella Mare Tower by $1 million, as TRD previously reported.

The sale August 1 to Noah and Patricia Breakstone represented a 33 percent discount off the last listed price. Garcia-Diaz was out of the country and not available for comment.

Posner, the son of corporate raider Victor Posner and a prominent South Florida businessman and philanthropist, died in a 2010 boat collision on his 44-foot rum runner in Biscayne Bay. His sister, Gail Posner, also deceased, had left her $8.3 million Miami Beach mansion to her dogs earlier that year.

Posner, a cars and boats enthusiast, purchased the penthouse from developer WCI Communities Inc. for $3.35 million in December 2006, public records show. The property features a 4,000-square-foot roof terrace with a “tropical rock waterfall” that spills into the pool and jacuzzi.


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