The Real Deal Miami

Elliman’s Chad Carroll takes over remaining developer listings at Regalia

He re-listed 18th floor unit at a $2M discount, and will list penthouse and beach house duplexes
By Katherine Kallergis | January 26, 2017 05:20PM

Photos of unit 18 at Regalia. Inset: listing agent Chad Carroll

Douglas Elliman agent Chad Carroll has taken over the remaining developer inventory at Regalia in Sunny Isles Beach, including the penthouse and beach house.

Carroll, formerly of “Million Dollar Listing Miami,” has re-listed the first of three units, residence 18, for $9.9 million. It marks a 23 percent reduction in price, down from $12.9 million. “There’s competition in the building and we’re very realistic on our expectations,” Carroll told The Real Deal. “We’re priced to sell.”

Rose Marie Minio of One Sotheby’s International Realty previously handled sales in-house at Regalia and then again when she joined One Sotheby’s in December 2015, a spokesperson told TRD. Her team sold 90 percent of the building, valued at $350 million, the spokesperson said.

Regalia Beach Developers hired Charles Allem to design residence 18, which was completed a few months ago. The $1.5 million buildout includes wood floors, leather-panelled walls, custom artwork, a kosher kitchen and customized master suite. The 5,515-square-foot unit features a 2,100-square-foot wraparound terrace, four bedrooms and five and a half baths. Each unit takes up a floor at the Sunny Isles tower. Allem also designed the building’s interiors, as well as those of the beach house.

Regalia, at 19575 Collins Avenue, was completed in 2014 by developers Kevin Venger, Louis R. Montello and others. The 39-story tower has six pools, a spa, cabanas, a fitness center, yoga studio, children’s playhouse, a chef’s kitchen and a champagne bar and wine cellar.

Last year, the developers listed the duplex “beach house” unit for $35 million with plans to also put the two-story penthouse on the market. Carroll said he and the developers are “in discussion” over the price and timing of both units, but they will likely be among the most expensive on the market in Sunny Isles Beach.

In November, the owner and president of a Tamarac-based medical billing company paid $9 million for unit #38, which breaks down to $1,632 per square foot. And earlier this month, unit 23 sold for $10.7 million. The seller of that condo was tied to former Argentinian president Nestor Kirchner.

In April of last year, TRD reported that a Miami law firm sued the project’s original developers and one of their creditors in Miami-Dade Circuit Court over unpaid attorney fees totaling more than $1 million at Regalia. Last March, Regalia Beach Developers filed suit against Montello, who is no longer part of the development team.