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South Florida

Brazilian financial head flips Key Biscayne condo

Oceana Key Biscayne
Oceana Key Biscayne

A Brazilian banking executive made $2.75 million on a unit at Oceana Key Biscayne that he purchased last year, Miami-Dade County records show.

Jose Olympio da Veiga Pereira, who has ties to Credit Suisse in Brazil, sold unit 120N for $8.25 million to Orion Heights LLC.

Pereira paid $5.5 million for the 3,787-square-foot unit in September 2014 when the 154-unit project began recording closings. It has four bedrooms, six bathrooms and one half-bath, according to property records. In a Harvard Business School luncheon invitation, Pereira was described as managing director of Credit Suisse and head of investment banking in Brazil.

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Consultatio developed the luxury oceanfront condominium at 350 Ocean Drive. More than 90 percent of its units sold for more than $550 million last year. Oceana Bal Harbour sits on 10.3 acres and includes 12 villas, 500 feet of beach frontage, a pool deck, gym, putting green, spa and tennis courts.

The Argentine developer is also building Oceana Bal Harbour, which closed on a $332 million construction loan in April 2014.

The buyer is a Key Biscayne-based LLC that is tied to a company in Aruba, state records indicate. The island town of Key Biscayne has a population of about 12,000. Projects include 101 Key Biscayne and the contentious Miami Marine Stadium site.

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Key Biscayne