Theory co-founder sells Setai penthouse to Brazilian mogul for $8.5M

Andrew Rosen paid $8.6M for the unit in 2013, which means he sold it at a loss

TRD MIAMI /
Feb.February 23, 2017 04:25 PM

The co-founder and CEO of fashion retailer Theory finally sold his penthouse at the Setai Miami Beach for $8.5 million, at a 38 percent discount from its 2015 asking price.

And the buyer is Jonas Barcellos Corrêa Filho, CEO of Brasif, a Leblon, Brazil-based conglomerate that has holdings in the distribution and rental of heavy machinery, retail, real estate development and investment, finance, biotechnology, sugar, ethanol and biomass electricity generation, agriculture and livestock, according to published reports.

Records show Capri 101 PH LLC, which is controlled by Barcellos, bought penthouse suite B at the Setai, at 101 20th Street in Miami Beach. He paid $3,372 per square foot for the three-bedroom, 2,521-square-foot unit on the 38th floor of the building.

The condo first hit the market in March 2015 for $13.75 million, a 60 percent increase from its previous sale price in 2013. Jennifer Restrepo of Luxury Living Realty first had the listing, but it was last with Compass agent Lourdes Gutierrez for $10.9 million. Gutierrez could not immediately be reached for comment.

The buyer’s agent was Luciana Barreto of Cervera Real Estate. Barreto, who declined to comment on the buyer’s identity, said her client was looking for a bigger unit. “There are only a few units like that and they have an amazing view, so you get the north and south side of the ocean,” she said. “And it was a good deal for him.”

Rosen, who co-founded Theory with Elie Tahari in 1997, paid $8.6 million for the unit, which means he just sold it at a loss. It was recently renovated. Barreto said an identical unit on the 35th floor sold for $12 million in March 2014.


Related Articles

arrow_forward_ios
Major key: DJ Khaled sells waterfront Aventura home for 40% discount

Major key: DJ Khaled sells waterfront Aventura home for 40% discount

Major key: DJ Khaled sells waterfront Aventura home for 40% discount
Four Seasons Residences at The Surf Club with Tommy and Thalía Mottola (Credit: Craig Barritt/Getty Images)

Thalía and Tommy Mottola pay $8M for Surf Club Four Seasons condo

Thalía and Tommy Mottola pay $8M for Surf Club Four Seasons condo
Paul Pogba and One Thousand Museum (Credit: Laurence Griffiths/FIFA via Getty Images)

Manchester United’s Paul Pogba joins Beckham at Zaha Hadid condo tower

Manchester United’s Paul Pogba joins Beckham at Zaha Hadid condo tower
Ben Moss

Ben Moss to head Compass’ National Sports & Entertainment Division

Ben Moss to head Compass’ National Sports & Entertainment Division
John Lennon and Yoko Ono with the home (Credit: Jack Mitchell/Getty Images)

John Lennon and Yoko Ono’s former Palm Beach estate hits market for $48M

John Lennon and Yoko Ono’s former Palm Beach estate hits market for $48M
Gables Town Colony apartment complex, Sue Ansel of Gables Residential

Gables Residential scores $85M loan for Boca Raton apartment complex

Gables Residential scores $85M loan for Boca Raton apartment complex
Pharrell Williams (Credit: Craig Barritt/Getty Images)

He must be happy: Pharrell buys $30M Coral Gables home

He must be happy: Pharrell buys $30M Coral Gables home
Rick Pitino and 38 Indian Creek Island Road (Credit: Luxhunters, Panagiotis Moschandreou/Euroleague Basketball via Getty Images)

Basketball coach Rick Pitino sells Indian Creek waterfront mansion

Basketball coach Rick Pitino sells Indian Creek waterfront mansion
arrow_forward_ios

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

Loading...