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The Real Deal Miami

Russian banker sells South Beach PH for $26M, a 51% discount

Unit at 321 Ocean sold for $3,800 psf
By Katherine Kallergis | May 14, 2018 06:30PM

321 Ocean Drive and Boris Jordan

Russian venture capitalist Boris Jordan just sold his penthouse in South Beach for $26 million, or more than $3,800 per square foot, in the highest priced condo deal of the year.

Jordan and his wife, Elizabeth, tried to flip the five-bedroom, 6,807-square-foot penthouse for $53 million in 2015, the same year they purchased it for $20 million. The unit was relisted in October for $35 million.

The $26 million sale price is a record for condo sales over the past year. In May 2017, a penthouse at Palazzo del Sol sold for $31 million.

Unit 901 at 321 Ocean Drive includes a 5,223-square-foot rooftop with an infinity pool. It was listed with Bill Hernandez and Bryan Sereny of Douglas Elliman. Eloy Carmenate and Mick Duchon represented the buyer, whom they declined to identify.

Brian Jordan is CEO of Sputnik Group, a private equity and venture capital firm. He also co-founded the Russian investment banking firm Renaissance Capital, and previously served as CEO of the state-controlled Russian media conglomerate Gazprom-Media, and as head of the Russian television network NTV.

Forbes first reported the deal.

Aria Development Group, led by David Arditi, completed the 22-unit luxury condo building in June 2015.