The Real Deal Miami

Crown family trust buys Apogee condo for $11.3M

Chicago family’s philanthropic trust bought the unit for $2,720 psf
By Keith Larsen | February 19, 2019 11:30AM

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.