The Real Deal Miami

Pat Riley, London hedge fund manager buy condos at Four Seasons at the Surf Club

Riley paid $8.1M for a unit on the fifth floor in the south tower
By Keith Larsen | January 25, 2019 11:45AM

Christine Riley, Pat Riley, and the Surf Club Residences at the Four Seasons (Credit: Getty Images and Four Seasons)

Add Miami Heat godfather Pat Riley and a London hedge fund manager to the list of unit owners at the Four Seasons Residences at the Surf Club in Surfside.

Pat Riley and his wife, Christine, paid $8.1 million for unit 507 in the south tower of the luxury condo-hotel at 9001 Collins Avenue, records show. The developer, Fort Partners, sold the 3,948-square-foot condo for $2,050 per square foot, records show. The unit has four bedrooms and five and a half bathrooms.

Riley is the president of the NBA’s Miami Heat and is considered one of the greatest coaches in NBA history, winning five championships as a coach.

Marcos Lederman, founder of London-based Spinnaker Capital Group, also purchased a condo, unit 711 in the south tower, records show. Lederman paid $17.3 million for the 7,435-square-foot unit, or about $2,300 per square foot. It has six bedrooms and six and a half bathrooms.

An unknown buyer also recently purchased a penthouse in the Surf Club for nearly $21 million, marking one of the largest sales at the luxury condo-hotel.

There are a number of high profile buyers at the luxury development, including developers Richard LeFrak and Richard Ruben, former Esquirer publisher Alan Greenberg, former Publix CEO Charles Jenkins Jr., and billionaire real estate and casino tycoon Neil Bluhm.

Last year, Groupon founder Eric Lefkofsky’s $30.7 million purchase of penthouse 7 in the south tower last year.

Fort Partners completed the project in 2017. It includes 150 condo units, a 72-room hotel, a Le Sirenuse restaurant and a Thomas Keller restaurant.
Pritzker Prize-winning architect Richard Meier, who was accused of sexual harassment two years ago, and Kobi Karp designed the development.