The Real Deal Miami

Cha-ching: ATM maker buys
Surfside condo

Digicon CEO paid $10.5M for Four Seasons unit
By Katherine Kallergis | September 25, 2017 11:37AM

Joseph Elbling and the Four Seasons Residences at The Surf Club (Credit: Digicon, the Four Seasons at The Surf Club)

The CEO of a major ATM manufacturing company is cashing into the Four Seasons Private Residences at The Surf Club.

Property records show Canale Holding Corp., led by Joseph Thomas Elbling and Maria Beatriz Martins Elbling of Brazil, paid $10.5 million for unit 401 in the south tower of the luxury Surfside condo development at 9111 Collins Avenue.

Joseph Elbling heads Digicon S.A., a maker of ATMs and cash dispenser machines. But the Elblings didn’t pay all cash for their new condo. Records show they financed the purchase with a $5.24 million mortgage from J.P. Morgan Chase.

Fort Partners completed the project, which includes a 77-room hotel and two 12-story residential towers, earlier this year. The Surf Club development features a private club, two restaurants, four swimming pools, cabanas, a gym and oceanside gardens. It was designed by Pritzker Prize-winning architect Richard Meier with Kobi Karp, and was built on the site of the former private beach club founded in 1930 by Harvey Firestone and designed by Russell Pancoast.

Units range from $3.7 million to $31 million, and from 1,800 square feet to more than 7,000 square feet. Other buyers include a former Esquire publisher, telecommunications tycoon Rajendra Singh and former Publix Super Markets CEO Charles Jenkins Jr.