Investment manager pays $9.8M for Faena unit

Building has sold roughly 50 percent of its 44 units

TRD MIAMI /
Sep.September 28, 2015 12:00 PM

It’s been a big week for the newly built Faena House condo tower in Miami Beach. First, an unknown buyer paid $60 million for the building’s penthouse. And now an investment manager and his wife have closed on a $9.8 million unit on the ninth floor.

Brian and Randye Kwait, a couple from Greenwich, Connecticut, just closed on their purchase of unit 9-B at Faena. According to the developer’s floor plans, the unit has 5,466 square feet of indoor and outdoor space. It has four bedrooms, five bathrooms, a private elevator room that acts as an entrance to the unit, and a large terrace that runs the length of the residence.

Brian Kwait is a founding member of Odyssey Investment Partners, a private equity company with offices in New York and Los Angeles. It’s raised more than $5 billion in funds since the company was formed in 1998, according to its website.

Since Faena House was completed early this month, roughly 50 percent of the building’s 44 units have been sold, Faena Group’s Alicia Goldstein told The Real Deal.

On Friday, the 18-story tower’s penthouse closed for an incredible $60 million. The buyer purchased the unit through a company named STHA. It was incorporated in Delaware, which has opaque public records, so details about the LLC were not available.


Related Articles

arrow_forward_ios
Joseph Menaged (Credit: Facebook)

Father of this reality TV star allegedly laundered his son’s money through luxury real estate

Kim and Kanye take Miami? Couple buying condo at Faena House

Kim and Kanye take Miami? Couple buying condo at Faena House

Edward J. Minskoff

NY developer Edward Minskoff is the latest wealthy buyer to list his Faena House condo

Former Saks CEO sells Faena House unit for nearly half off original ask

Former Saks CEO sells Faena House unit for nearly half off original ask

The week in luxury: A map of Miami-Dade’s priciest condo sales

The week in luxury: A map of Miami-Dade’s priciest condo sales

Alex Blavatnik sells his Faena House condo

Alex Blavatnik sells his Faena House condo

Art dealer Larry Gagosian flips Faena House PH for $12M

Art dealer Larry Gagosian flips Faena House PH for $12M

NY developer Joseph Moinian pays $12.5M for Leon Black’s Faena House unit

NY developer Joseph Moinian pays $12.5M for Leon Black’s Faena House unit

arrow_forward_ios
Loading...