The Real Deal Miami

Godiva CEO buys Bal Harbour condo

Mohamed Elsarky paid nearly $1,700 psf for St. Regis unit
By Katherine Kallergis | October 20, 2017 10:30AM

St. Regis unit and Mohamed Elsarky (Credit: Twitter)

The CEO of Godiva Chocolatier just picked up a luxury condo in Bal Harbour with sweet views.

Mohamed Elsarky and his wife, Irma, paid $6.5 million for unit 2001 in the North tower of the St. Regis Bal Harbour, property records show.

N2001 Fla Inc sold the three-bedroom, 3,884-square-foot unit at 9705 Collins Avenue. The Delaware corporation is managed by Cristofer Bennardo, a Boca Raton attorney. The company paid $6.3 million for the unit in 2012.

Elsarky has led the New York City-based chocolatier since 2014. The company was founded in Belgium in the 1920s and purchased by the Turkish conglomerate Turkish Yıldız Holding in 2007.

The Elsarkys paid nearly $1,700 per square foot for the unit, which features panoramic floor-to-ceiling windows with views of the ocean and Intracoastal Waterway.

It hit the market in November for $9.5 million, and was relisted in August for $7.85 million with Douglas Elliman’s Senada Adzem, according to Elliman also represented the buyer. It sold at a 32 percent discount off its highest asking price.

In 2014, Qatar’s largest development company, Al Rayyan Tourism Investment Company, paid $213 million for the hotel component of the luxury beachfront project. Amenities include the luxury resort’s pool, fitness center, spa and kids club.