The Real Deal Miami

Costantini buys pricey condo at his own
Bal Harbour complex

The developer also sold a unit at another of his properties, Oceana Key Biscayne
By Katherine Kallergis | January 19, 2018 02:30PM

Oceana Bal Harbour and Eduardo Costantini (Credit: Consultatio USA)

Talk about a stamp of approval.

Developer Eduardo Costantini liked the Oceana Bal Harbour development he created so much he just closed on one of the units. Property records show Costantini, founder and president of Consultatio USA, paid nearly $9 million for unit 1901S at the 28-story, 240-unit complex at 10201 Collins Avenue.

It was among several recent moves he made to buy and sell condo units, records show. The Argentinian developer also transferred ownership of unit 1201S at Oceana Key Biscayne, back to Consultatio Key Biscayne LLC, an entity that’s tied to Consultatio USA. He paid $5.4 million for the 4,080-square-foot condo in 2016, and just sold it for $7.5 million. The building, a 142-unit development at 350 Ocean Drive, was completed in 2014.

Costantini could not be reached for comment.

Oceana Bal Harbour, which had an estimated $1.3 billion sellout, was completed in late 2016. The oceanfront condo project was designed by Arquitectonica, and features large sculptures by Jeff Koons, which Costantini purchased for $14 million. Piero Lissoni designed the interiors.

The 5.5-acre site was formerly known as the Bal Harbour Beach Club before Consultatio USA purchased it in 2012 for $220 million. A year later, the developer secured a $332 million construction loan for the project from a group of lenders led by HSBC.