Bond manager pays $9.4M for condo at Oceana Bal Harbour

Miami /
Dec.December 30, 2016 10:30 AM

Boston-based portfolio manager Mark Notkin and his wife Kimberly paid $9.4 million for a condo at Oceana Bal Harbour.

Records show the Notkins bought unit 1707S at Oceana, a 28-story, 240-unit luxury condo development at 10201 Collins Avenue. No financing was recorded.

Mark Notkin is a portfolio manager at Fidelity Investments, where he’s worked since the early 1990’s, according to his LinkedIn profile. He manages $23 billion in mutual funds, and has been described by Bloomberg the “best junk bond manager.” His $9.7 billion Fidelity Capital & Income Fund has outperformed all others over the past decade, the publication said earlier this year.

The Notkins are based in Needham, Massachusetts, but records show they’ve owned a unit at the St. Regis Bal Harbour since 2011. That condo is not on the market.

Oceana Bal Harbour, developed by Eduardo Costantini‘s Consultatio, has an estimated $1.3 billion sellout, which would set a record in South Florida. The project would beat out Oceana Key Biscayne, also developed by Consultatio, which generated nearly $580 million in recorded closings.

Records show 71 units have closed at Oceana Bal Harbour since it opened in November. Owners include Accenture managing director Paul Rakowski and Estee Lauder Companies vice president Amy DiGeso, and NetApp vice chairman Tom Mendoza, as well as a list of foreign buyers.

Oceana Bal Harbour was designed by Arquitectonica, and has four upper penthouses, two of which were under contract for $26 million each earlier this year. Piero Lissoni designed the interiors, the private restaurant and the penthouse bathrooms. Enzo Enea designed the pool deck landscape.

The 5.5-acre site was formerly known as the Bal Harbour Beach Club before Consultatio purchased it in 2012 for $220 million. A year later, the developer closed on a $332 million construction loan from a group of lenders led by HSBC.


Related Articles

arrow_forward_ios
Faena House at 3315 Collins Avenue in Miami Beach (Condos.com)
Faena House closing tops Miami-Dade’s weekly condo sales
Faena House closing tops Miami-Dade’s weekly condo sales
A photo illustration of the Four Seasons Residences at Biscane Bay (left), the Mansions at Acqualina (middle), and the 1 Hotel & Homes at Miami Beach (right) (Condo.com, iStock)
Here are Miami-Dade’s top condo sales in April
Here are Miami-Dade’s top condo sales in April
A photo illustration of the Mansions at Acqualina (Mansions at Acqualina, Condo.com, iStock)
Mansions at Acqualina closing tops Miami-Dade’s weekly condo sales
Mansions at Acqualina closing tops Miami-Dade’s weekly condo sales
Santiago Arana and Mauricio Umansky (iStock)
The Agency expands again in South Florida with Surfside outpost
The Agency expands again in South Florida with Surfside outpost
$15M Fisher Island closing tops Miami-Dade’s weekly condo sales
$15M Fisher Island closing tops Miami-Dade’s weekly condo sales
$15M Fisher Island closing tops Miami-Dade’s weekly condo sales
$11M 1 Hotel & Homes closing tops Miami-Dade’s weekly condo sales
$11M 1 Hotel & Homes closing tops Miami-Dade’s weekly condo sales
$11M 1 Hotel & Homes closing tops Miami-Dade’s weekly condo sales
Ocean House at 125 Ocean Drive in Miami Beach, Four Seasons Residences at 1425 Brickell Avenue in Miami, and The Surf Club Four Seasons at 9001 - 9111 Collins Avenue in Surfside (Condos.com)
Here are the top March condo sales in Miami-Dade
Here are the top March condo sales in Miami-Dade
6800 fisher Island Drive (Zillow, iStock)
$30M Fisher Island closing tops Miami-Dade’s weekly condo sales
$30M Fisher Island closing tops Miami-Dade’s weekly condo 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...