Hedge funder Stuart Zimmer pays $19M for Mansions at Acqualina PH

Miami /
Dec.December 14, 2016 11:15 AM

Multimillionaire hedge funder Stuart Zimmer and his wife Jennifer paid $18.78 million for a penthouse at the Mansions at Acqualina.

Records show the Zimmers closed on units 4601 and 4602 at the luxury condo tower, at 17749 Collins Avenue in Sunny Isles Beach. And it’s not the first for the Zimmers.

Zimmer is the founder and CEO of New York City-based Zimmer Partners, an energy-focused fund manager that invests in public equity and fixed income markets. As of Sept. 30, Zimmer Partners held a market value of about $3.65 billion, according to its Nasdaq page.

Penthouse 4601 features a saltwater pool on the balcony, cocktail bar, private elevator foyer entry, master suite and more, according to Below, Brosda & Bentley. It was asking $60,000 a month as a rental last year, the brokerage said in a blog post.

In 2013, the Zimmers paid $11.5 million for unit 4501, also a penthouse, at the neighboring Acqualina, bringing their total to more than $30 million. Hedge fund manager Darren Davy and his wife Asmaa sold them that unit.

Records show the developer just provided the Zimmers with a $10 million mortgage for all three Acqualina units.

The Trump Group, led by Jules and Eddie Trump (of no relation to the president-elect), completed the 47-story, 72-unit building in August 2015. All units have summer kitchens and hot tubs. Common areas are decorated with Fendi Casa furnishings, and the Mansions’ lobby features walls of wood, marble, leather and fabric, and two Swarovski chandeliers, each with 30,000 crystals, carrying a price tag of $250,000.

Mansions is the second Acqualina-branded tower and will be followed by Estates at Acqualina, expected to open in 2020.

Other buyers include PCS Wireless co-founder and CEO Chaim “Ben” T. Nash, video game developer and software company executive Joel Hochberg and Riese Organization Chairman and CEO Dennis Riese.


Related Articles

arrow_forward_ios
Turnberry Ocean Club and Jeffrey Soffer (Getty)

Closings begin at newly completed Turnberry Ocean Club in Sunny Isles

Closings begin at newly completed Turnberry Ocean Club in Sunny Isles
Icon unit tops list of most expensive condo sales in Miami-Dade (Google Maps; Icon Brickell)

Condo sales and dollar volume up from last week

Condo sales and dollar volume up from last week
A map of condo sales and Setai in Miami Beach (Credit: Google Maps)

Weekly condo sales volume in Miami drops to $50M

Weekly condo sales volume in Miami drops to $50M
From left: David Koster, Gabriel Markovich, Seth Kaufman and Daniel de la Vega

One Sotheby’s acquires Decorus Realty in Sunny Isles Beach

One Sotheby’s acquires Decorus Realty in Sunny Isles Beach
Ben Nehmadi, Joseph Zichelle, Melissa Barragan, and Adam Gurewicz, with the unit

Turnberry Ocean Colony PH in Sunny Isles Beach sells for $7M

Turnberry Ocean Colony PH in Sunny Isles Beach sells for $7M
Judge gives Regalia developer A year to sell remaining units

Bankruptcy judge gives Regalia developer a year to sell PH and beach house

Bankruptcy judge gives Regalia developer a year to sell PH and beach house
Gil Dezer with a rendering of Porsche Design Tower and Residences by Armani/Casa (Credit: ARX via Madison Global)

Miami judge will rule if ex-Dezer COO is entitled to more than $10M in profits

Miami judge will rule if ex-Dezer COO is entitled to more than $10M in profits
A Sunny Isles Beach landlord said a restaurant refused relief and vacated the property.

RK Centers alleges restaurant refused Covid relief, vacated property

RK Centers alleges restaurant refused Covid relief, vacated property
arrow_forward_ios

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

Loading...