The Real Deal Miami

President of Brazil’s golf federation pays $5M for Fendi Château condo

Oceanfront unit sold for about $1,400 psf
By Katherine Kallergis | November 08, 2016 10:30AM

Rendering of the Fendi Chateau Residences. Inset: Paulo Cezar Pacheco (Credit: Getty)

Rendering of the Fendi Chateau Residences. Inset: Paulo Cezar Pacheco (Credit: Getty)

The president of the Brazilian Golf Confederation and founder of a medical products company paid $5.06 million for a condo at the Château Group’s Fendi Château Residences in Surfside.

Records show Catita-One LLC, an entity controlled by Paulo Cezar Pacheco, closed on unit 402 at the newly completed luxury condo building.

Pacheco was elected president of Brazil’s golf federation in 2012 and re-elected in 2014 to focus on the 2016 Olympics, where golf was included as a game for the first time in more than 100 years, according to published reports. He’s also founder of CEI Group, a medical products distribution company based in Brazil.

Pacheco’s new condo is a 3,616-square-foot oceanfront unit with four bedrooms and staff quarters, according to marketing materials. That means the price breaks down to about $1,400 per square foot.

Banco do Brasil Americas provided the LLC with a nearly $3.3 million loan, records show.

Fendi Château, which began recording closings in September, has attracted a number of high-profile buyers, including a pair of Brazilian software firm executivesNew York investor Irving Langer and Russian soprano Yelena Dudochkin.

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.