Crown family trust buys Apogee condo for $11.3M

Chicago family’s philanthropic trust bought the unit for $2,720 psf

Miami /
Feb.February 19, 2019 11:30 AM

James and Susan Crown

UPDATED, Feb. 22, 10:58 a.m: A trust tied to Chicago’s Crown family bought a condo in Miami Beach’s Apogee for $11.3 million as the luxury development continues to demand high resale prices.

Craig Martin, a trustee of the Crown Family’s philanthropic trust, bought the 4,154-square-foot condo at 800 South Pointe Drive for $2,720 per square foot. A British Columbia company that lists a Curacao address sold the condo, unit 1201.

The four-bedroom, three-and-a half bathroom condo last sold in 2009 for $5.45 million, records show.

Dora Puig of Luxe Living Realty represented the buyer and seller in the deal, according to Redfin.

Despite a slowdown in the Miami’s luxury condo market, resales at Apogee in Miami Beach’s South-of-Fifth neighborhood have done well.

Last March, two units sold for $12 million and $14.8 million. Also last year, actor Michael Caine sold his condo for $7.45 million.

In May, billionaire hedge funder John Liew and his wife Serena paid $13.5 million, or $3,600 per square foot, for unit 1604 at Apogee.

The 22-story building was built by the Related Group in 2007 and has about 67 units. It was designed by Sieger-Suarez.

The Crown family is one of the wealthiest families in Chicago with interests in the New York Yankees, the Chicago Bulls, the Rockefeller Center and General Dynamics. The family has a large philanthropic organization.

In July, an investment manager tied to the Crown family paid $5.98 million for a townhome at Murano at Portofino, near Apogee in Miami Beach’s South-of-Fifth neighborhood.

Correction: An earlier version of the story incorrectly identified the square footage.


Related Articles

arrow_forward_ios
(Photo Illustration by The Real Deal with Getty Images)
Want more South Florida land? Buy out your neighbors
Want more South Florida land? Buy out your neighbors
Frank Pellegrino Jr. with Loews Miami Beach and Loews Hotel owner Jonathan Tisch (Rao's, Google Maps, Getty)
Iconic NYC eatery Rao’s to open at Loews Miami Beach
Iconic NYC eatery Rao’s to open at Loews Miami Beach
17141 Collins Ave, Sunny Isle
Muse Residences in Sunny Isles Beach tops weekly condo sales
Muse Residences in Sunny Isles Beach tops weekly condo sales
A photo illustration of 12203 Tillinghast Circle in Palm Beach Gardens (top) and 6300 North Bay Road in Miami Beach (Getty Images, Old Palm Golf Club, Coldwell Banker)
Flipping crazy: South Florida’s top resi flips of the year so far, ranked
Flipping crazy: South Florida’s top resi flips of the year so far, ranked
Don Peebles, in partnership with former Miami Beach Mayor Philip Levine and developer Scott Robins, wants to build a six-story office and apartment building on a city-owned parking lot (Rendering courtesy of 1664 Meridian Ave General Partner LLC)
Miami vs NYC: A developer’s guide
Miami vs NYC: A developer’s guide
From left: Monroe Capital’s Theodore Koenig, Steve Witkoff, HFZ's Ziel Feldman and Benny Shabtai with the Shore Club (Monroe, Witkoff, HFZ, Getty)
Judge awards $5M to Israeli mogul in HFZ lawsuit over failed Shore Club project in Miami Beach
Judge awards $5M to Israeli mogul in HFZ lawsuit over failed Shore Club project in Miami Beach
Prive at 5000 Island Estates Drive in Aventura (Condo.com, getty)
Privé in Aventura closing tops Miami-Dade’s weekly condo sales
Privé in Aventura closing tops Miami-Dade’s weekly condo sales
Carillon Miami Wellness Resort at 6801 Collins Avenue in Miami Beach (Google Maps, Getty)
Z Capital loses attempt to slap Miami Beach condo owners with $8M assessment
Z Capital loses attempt to slap Miami Beach condo owners with $8M assessment
arrow_forward_ios

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

Loading...