Brahman Capital Management founder and principal Peter Hochfelder just closed on a unit at Terra and the Related Group’s Two Park Grove project.
A trust in Hochfelder’s name led by his wife, Stacy Hochfelder, paid $7.7 million for unit 20AB at the condominium, property records show. Lourdes Alatriste of Engel & Völkers Miami represented the buyer.
The 23-story, 67-unit building is the second tower of the 297-unit, three-building luxury condo development in Coconut Grove. Closings at Two Park Grove, located at 2821 South Bayshore Drive, began in June, according to property records. Buyers include Ryder System executive Eugenio Sevilla-Sacasa and Douglas Elliman’s Cecilia Samaja.
Hochfelder’s Manhattan-based investment firm managed more than $5 billion at its peak in 2015, according to the Wall Street Journal.
Terra and Related scored $112.1 million in construction financing for One Park Grove, the third and final tower of the Park Grove project that includes Two Park Grove and the Club Residences.
The complex design will feature a restaurant by Miami restaurateur and chef Michael Schwartz, a gym, spa, sauna and steam rooms and a wine tasting room. The development was designed by Rem Koolhaas’ OMA and Arquitectonica with interiors by Meyer Davis Studio.