The Real Deal Miami

Marc Bell sells Setai condo for $12M

Financier paid $7.3 million for 35th-floor unit in October 2012
By Eric Kalis | May 27, 2014 11:15AM

Setai (inset: Marc Bell)

Setai (inset: Marc Bell)

Marc Bell got $12 million for his 35th-floor condo at South Beach’s Setai building, The Real Deal has learned.

Bell-managed Up All Night South Beach sold the three-bedroom unit on May 20, according to Miami-Dade County records. The company paid about $7.3 million for the 2,521-square-foot condo in October 2012.

Setai 3509 LLC is the buyer. The company is managed by Nafia Ergun Sefada. It obtained a $5.5 million mortgage from BAC Florida Bank for the purchase.

One Sotheby’s International Realty broker Eloy Carmenate and Zilbert International Realty’s Jeffrey Miller arranged the sale. The three-bathroom unit was previously listed with an asking price of $15 million.

Bell is a Boca Raton-based financier and former CEO of Penthouse-related FriendFinders Networks. He is also a two-time Tony Award-winning producer.

In Boca, Bell is looking to sell a 27,000-square-foot mansion that features a replica of the bridge of the Star Trek Enterprise. At $35 million, the home is the most expensive single-family listing in southern Palm Beach County.