Donald Trump’s relatives sell Setai unit to Nakash family: $7M

Miami /
Dec.December 28, 2015 01:30 PM

A trust tied to the family of presidential candidate Donald Trump just sold its cozy Setai duplex for $7 million.

But the celebrity involvement doesn’t end there. The buyer: A Delaware company that shares an address with the Nakash family, who built their wealth atop a mountain of designer jeans.

Included in the sale were units 2306 and 2308, which were combined into one residence that takes up the entire southeast corner of the building’s 23rd floor. They have a beach-house style with hardwood floors, white walls and ocean views through floor-to-ceiling glass windows, the listing shows.

These units were sold by a trust is in the name of Maryanne Trump Barry, Donald’s sister and a senior federal judge in New Jersey. Her son and daughter-in-law, David and Lisa Desmond, acted as trustees for this sale.

The buyer is a Delaware limited liability company named after the units. Its New York address leads back to Jordache Enterprises clothing company, which is owned by the Nakash family.

Brothers Ralph, Avi and Joseph Nakash founded Jordache in 1969 and propelled the company into global popularity with its lines of designer jeans.

In recent years, the family’s tastes have switched to South Florida real estate: The Nakashes paid $90 million for the hotel portion of Miami Beach’s Setai last year, and they also bought the famed Versace Mansion in South Beach for $41.5 million in 2013.

For these two Setai units, the family paid a whopping $2,736 per square foot — and that’s with a $1.5 million discount from their original asking price of nearly $8.5 million.

The residence has three bedrooms, three-and-a-half bathrooms, modern appliances and designer furnishings. Its listing with Stacy Robins of Stacy Robins Companies said “just bring your toothbrush.”

The Trump’s trust previously paid $7.79 million for the units. David and Lisa Desmond also sold a Mediterranean estate next to Trump’s Mar-a-Lago resort in Palm Beach for $8.9 million in November.


Related Articles

arrow_forward_ios
A photo illustration of prominent guests at the Witkoff wedding (via Instagram)
Nuptials Mar-a-Lago style: Donald Trump, Don Peebles, Barry Sternlicht among real estate elite at Witkoff wedding
Nuptials Mar-a-Lago style: Donald Trump, Don Peebles, Barry Sternlicht among real estate elite at Witkoff wedding
Donald Trump and Grant Cardone (Cardone Enterprises)
Presidential surprise: Donald Trump kicks-off Grant Cardone’s 10X Growth Conference
Presidential surprise: Donald Trump kicks-off Grant Cardone’s 10X Growth Conference
Donald Trump and The Mar-a-Lago Club in Palm Beach (Getty Images, LoopNet, iStock/Illustration by Steven Dilakian for The Real Deal)
Trump’s toilet triumph: Guests of the former No. 1 will have more places to go No. 2
Trump’s toilet triumph: Guests of the former No. 1 will have more places to go No. 2
The $12 million condo at Setai Miami Beach (Compass)
Weekly condo sales jump in Miami-Dade, led by $12M Setai closing
Weekly condo sales jump in Miami-Dade, led by $12M Setai closing
Eric and Lara Trump with 502 Bald Eagle Drive in Jupiter (Getty, Google Maps)
Trump town: Eric and Lara buy home near Don Jr. in Jupiter
Trump town: Eric and Lara buy home near Don Jr. in Jupiter
Fontainebleau Miami Beach, Jeffrey Soffer and former President Donald Trump (Ebyabe/Wikipedia, Getty, iStock)
Gambling portability a no-go in Florida this year for Jeffrey Soffer, Trump
Gambling portability a no-go in Florida this year for Jeffrey Soffer, Trump
Gil Dezer (Photos by Sonya Revell)
The Closing: Gil Dezer
The Closing: Gil Dezer
Brad Parscale and 2319 Desota Drive (Getty, Google Maps)
Brad Parscale, ex-Trump campaign manager, sells Fort Lauderdale home
Brad Parscale, ex-Trump campaign manager, sells Fort Lauderdale home
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...