The Real Deal Miami

Fanjul family, Goldman Sachs CEO buy at Faena

One is a billionaire, the other is a wealthy sugar tycoon
A rendering of the newly built Faena House condo tower in Miami Beach

A rendering of the newly built Faena House condo tower in Miami Beach.

Two big names have appeared among those buying into the newly built Faena House condo tower in Miami Beach: the CEO and chairman of Goldman Sachs and a member of the Fanjul family, better known as the sugar barons behind Florida Crystals and Domino Sugar.

Goldman Sachs CEO and Chairman Lloyd Blankfein

Goldman Sachs CEO and Chairman Lloyd Blankfein

Units 8-A and 8-C were sold in separate deeds recorded this week in Miami-Dade County records. The first, 8-A, sold for $9.5 million to Lloyd Blankfein and his wife Laura. Lloyd is the CEO and chairman of Goldman Sachs, a major investment banking firm that oversees billions of dollars worldwide. He first joined the company in the early ’90s as head of its currency and commodities division. In 2006, Blankfein became the CEO. His net worth has since grown past $1 billion, according to Bloomberg.

Faena House is no stranger to the mega-rich. Rumors had surfaced early in Faena House’s development that Blankfein was one of the first buyers at the project, and an exclusive party held for the project during the 2013 Art Basel even drew guests such as Hollywood superstar Leonardo DiCaprio.

Jose "Pepe" Fanjul Jr., a member of the Fanjul family of sugar tycoons

Jose “Pepe” Fanjul Jr., a member of the Fanjul family of sugar tycoons

The second unit, 8-C, sold for $5.15 million to Sobe 8-C LLC. Corporate records show that Jose F. Fanjul Jr. is the company’s manager. Jose is a member of the Fanjul brothers that own and operate Fanjul Corp., a major player in the United States’ sugar industry. Its subsidiaries include Florida Crystals, Domino Sugar, Redpath Sugar and the California and Hawaiian Sugar Company.

In recent years, Florida Crystals began dabbling in multifamily development with its Atlantic Commons project in western Delray Beach. The 395-unit project broke ground last year.

Details about the Faena units were not immediately available. Finishes at the project typically include Venetian terrazzo flooring, polished Thassos marble counter tops, custom light fixtures, custom cabinetry and Miele appliances.