Offshore buyer lists new Fendi Château unit at 40% price hike

Miami /
Oct.October 28, 2016 09:45 AM

A Nassau, Bahamas-based owner of a newly completed Fendi Château Residences unit in Surfside wants to flip it for a big profit. 

Chateau Ocean Unit 706 LLC, a Florida company tied to a pair of Bahamian financial executives, closed on unit 706 for $6.856 million, or $1,400 per foot, in early October. Now, the luxury condo unit is back on the market for $9.58 million, or nearly $2,000 a foot, according to Realtor.com

The $2.724 million difference comes out to nearly 40 percent more than the sale price of the three-bedroom, 4,897-square-foot unit.

The entity is managed by Dillon Dean and Ivylyn Cassar of Equity Bank and Trust Bahamas Limited, managing director and vice chair. It’s also controlled by a New York-based law office, corporate records show.

Fendi Château, which marks the first condo tower to open this cycle in Surfside, is located at 9365 Collins Avenue. Four units are on the market at the 12-story, 58-unit building, including a penthouse for $25 million, according to Realtor.com

Listing agent Matias Alem of BRG International declined to disclose the buyer’s identity. Alem told The Real Deal that most owners in the building “are not going to sell.”

The flow-through unit will be finished with Greek marble and furnished by December, Alem said. It’s also available for rent for $45,000 a month.

Fendi Château has attracted a number of high-profile buyers, including New York investor Irving Langer, a pair of Brazilian software firm executives and private equity investor Thompson Dean.

The beachfront development was designed by Arquitectonica and includes pools, a Jacuzzi, 12 private cabanas, a restaurant and bar, a fitness center and a spa, kids’ club, private theater, a private dining room, wine cellar and Shabbat elevators.


Related Articles

arrow_forward_ios
Sean and Ashly Heyniger along with an aerial view of 3140 Washington Road in West Palm Beach (Getty, Google Maps, Watermark Medical, Facebook/Ashly Haniger)
Health care mogul sells waterfront West Palm estate for record $21M
Health care mogul sells waterfront West Palm estate for record $21M
Treo Construction's Ricardo Halfen and 422 Golden Beach Drive
Homebuilder sells waterfront Golden Beach spec house for $15M
Homebuilder sells waterfront Golden Beach spec house for $15M
Wayne Huizenga Jr. and his new West Palm Beach mansion at 3100 North Flagler Drive
Wayne Huizenga Jr. faces lawsuit tied to West Palm Beach mansion
Wayne Huizenga Jr. faces lawsuit tied to West Palm Beach mansion
John Ruiz with 530 Arvida Parkway
John Ruiz sells waterfront Gables Estates home for discounted $30M
John Ruiz sells waterfront Gables Estates home for discounted $30M
Former NFL owner Dwight Schar, 550 S Ocean Blvd, Palm Beach
Billionaire former NFL owner Dwight Schar sells Palm Beach estate for $45M
Billionaire former NFL owner Dwight Schar sells Palm Beach estate for $45M
3565 North Ocean Boulevard, Gulf Stream and J&K Ingredients' James Sausville
Baking mogul scores $32M on oceanfront estate flip
Baking mogul scores $32M on oceanfront estate flip
A photo illustration of 101 Holiday Drive in Hallandale Beach (Getty, Compass Real Estate, Google Maps)
Israeli investor pays record $10M for waterfront Hallandale Beach home
Israeli investor pays record $10M for waterfront Hallandale Beach home
6 Via Los Incas, 241 Jungle Road and 150 El Vedado Road with Designer Tom Ford, Josh Harris and Rob Heyvaert
Flipper’s paradise: Ultra-rich score on Palm Beach sales
Flipper’s paradise: Ultra-rich score on Palm Beach sales
arrow_forward_ios

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

Loading...