Newbury Partners founder secures spot at Surf Club Four Seasons

Richard Lichter paid $7.4 million for a unit in the south tower

Miami /
Dec.December 19, 2017 04:00 PM

Rendering of the project and Newbury Partners’ Richard Lichter (Credit: Four Seasons Private Residences at The Surf Club and Newbury Partners)

Richard Lichter, founder and managing partner at private equity firm Newbury Partners, joins the growing roster of big-name buyers at the Four Seasons at The Surf Club.

Property records show the finance exec plunked down $7.4 million for unit 809 in the south tower of the Four Seasons Private Residences at The Surf Club.

The Stamford, Connecticut-based secondaries private equity firm has more than $2.8 billion in capital commitments, according to its website. As of October, it’s fourth fund has raised $1.27 billion, the Wall Street Journal reported.

Lichter’s new unit was sold by Fort Partners under the entity SC Residences Condominiums LLC, records show. The newly completed development includes a 77-room hotel and two 12-story residential towers. Units range from $3.7 to $31 million, and from 1,800 to more than 7,000 square feet.

The development also 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.

Records show that units 611, 512 and 409 in the south tower also closed for a combined $22.5 million. Stacey Lane of the Stacey Lane 2017 Revocable Trust paid $5.4 million for unit S-409. Jennifer M. Bruder of the Jennifer M. Bruder 2013 Revocable Trust paid $5.35 million for unit S-512, and Constance Silver of the Constance Silver Revocable Trust paid $11.75 million for unit S-611.

The buyers join a list of other high-rollers who bought units at the luxury development, including hedge funder and philanthropist Jill Braufman, as well as Theory co-founder and CEO Andrew Rosen.


Related Articles

arrow_forward_ios
Alex Sapir and Giovanni Fasciano with Arte by Antonio Citterio in Surfside (Photos via Arte by Antonio Citterio/PR Newswire)
Miami penthouse sets cryptocurrency sale record: $22.5M
Miami penthouse sets cryptocurrency sale record: $22.5M
Lynda Carter and the Four Seasons Residences at The Surf Club (Getty, Four Season)
“Wonder Woman” Lynda Carter drops $15M on Surf Club Four Seasons condo
“Wonder Woman” Lynda Carter drops $15M on Surf Club Four Seasons condo
(Google Maps, Arte Surfside)
Weekly condo sales flat while sales volume falls in last week of May
Weekly condo sales flat while sales volume falls in last week of May
Emilio Bassini and Reina Marin Bassini with Arte Surfside. (Getty, Arte)
Hedge funder buys oceanfront condo at Arte in Surfside for $13M
Hedge funder buys oceanfront condo at Arte in Surfside for $13M
Arte Surfside (Arte)
$13M unit at Arte in Surfside leads weekly condo sales
$13M unit at Arte in Surfside leads weekly condo sales
(iStock)
South Florida resi construction starts soar in March
South Florida resi construction starts soar in March
Miami-Dade condo sales map and Arte by Antonio Citterio (Google Maps)
Miami condo sales drop in early April
Miami condo sales drop in early April
Eden Multifamily heads Jay Massirman and Jay Jacobson with Cypress Equity Investments CEO Michael Sorochinsky (rendering courtesy of MSA Architects)
Eden Multifamily, Cypress Equity score $24M construction loan for Tamarac apartments
Eden Multifamily, Cypress Equity score $24M construction loan for Tamarac apartments
arrow_forward_ios

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

Loading...