Telecom guru pays $6.8M for Four Seasons at The Surf Club unit

The Singhs also own a waterfront mansion on Indian Creek

Jun.June 02, 2017 11:30 AM

Four Seasons Residences at The Surf Club rendering (Inset: Rajendra and Neera Singh)

Telecommunications tycoon Rajendra Singh paid $6.8 million for a unit at the Four Seasons Residences at The Surf Club, property records show.

Singh, founder of Telcom Ventures and Digital Service Corp., and his wife Neera closed on unit N-715 at the newly completed development at 9101 Collins Avenue in Surfside. Rajendra Singh made Forbes’ list of the world’s billionaires in 2008 with $1.2 billion.

Records show the Singhs own a 13,680-square-foot mansion at 23 Indian Creek Island Road, for which they paid $10 million in 2007, or $730 per square foot. The property has seven bedrooms and seven baths plus three half-baths.

The Singhs’ new unit is at the 9-acre Surf Club project, designed by Kobi Karp of Kobi Karp Architecture & Interior Design and Pritzker Prize-winning architect Richard Meier. Fort Partners sold the condo under the entity SC Residences Condominiums LLC.

The development includes a 72-room hotel, two 12-story residential towers, a private club, two restaurants, four swimming pools, cabanas, a gym, oceanside gardens and a park. It was built on the site of the former private beach club founded in 1930 by Henry Firestone Club and designed by Russell Pancoast.

Records show Fort Partners paid $116 million for the site in 2012. Eleven units have closed in Miami-Dade County records since the hotel held a grand opening in March.

In a previous interview with The Real Deal, Fort Partners CEO Nadim Ashi said the development hit $1 billion in condo presales. Condo units range in price from $3.4 million to $18 million, and in size from 1,400 square feet to more than 7,000 square feet. The average price per square foot is about $2,400, according to Ashi.

Other projects in Surfside include the recently completed Fendi Chateau Residences, Jason Halpern’s planned luxury boutique condo Surf House, and ASRR Capital’s Arte by Antonio Citterio, which is just a block away from the Surf Club.

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