The Real Deal Miami

Brazilian investor sells unit at Ritz-Carlton Bal Harbour: $12M

Six-bedroom unit last sold for $8.9M in 2008
By Katherine Kallergis | July 07, 2016 03:10PM

Ritz Carlton Bal Harbour unit 2604

Ritz-Carlton Bal Harbour unit 2604

UPDATED, 4:50 p.m., Aug. 8, 2017: A Brazilian investor has sold his unit at the Ritz-Carlton Bal Harbour for $12.3 million.

Santa Rita Real Estate Inc., managed by Antonio Carlos Pontual Marx Filho, sold the six-bedroom, nearly 7,800-square-foot condo at the Ritz-Carlton, at 10295 Collins Avenue to Allen B. Levithan, a New Jersey-based attorney who also acts as a hedge fund adviser, records show.

Unit 2604 was on the market for more than four months asking $14.5 million. The residence features a wraparound terrace, marble floors, a Lalique chandelier, and a custom sauna and hot tub. Pontual Marx, through the company Santa Rita Real Estate Inc., paid $8.9 million for the unit in 2008. He’s tied to trademarks for anti-theft car systems.

Harding Realty’s Anita Bigelman was the listing agent.

Last year, the owners of the Ritz hotel announced it would undergo a $5 million renovation to add a new restaurant, spa and yoga studio. Lionstone Development and the Flag Luxury Group acquired the hotel in 2014 and rebranded it as a Ritz-Carlton.

The 18-story development, completed in 2007, has 185 residences and 124 condo-hotel rooms. The building had endured years of litigation after two of its former owners filed for bankruptcy.

A previous version of this story incorrectly named Antonio Carlos Pontual Marx Filho as the seller. He previously managed the company that sold the unit.