Guggenheim Partners exec plunks down $10M for Jade Signature condo

Five-bedroom, two-story unit sold for more than $1,500 psf
By Katherine Kallergis | May 09, 2019 11:30AM

Jade Signature and Fares Noujaim (Credit: Curbed and Wikipedia)

Jade Signature and Fares Noujaim (Credit: Curbed and Wikipedia)

UPDATED, May 9, 12:55 p.m.: Investment banker Fares Noujaim paid $10.15 million for a unit at the luxury Jade Signature tower in Sunny Isles Beach.

Julien Capital LLC, led by Noujaim and his wife Mirna, closed on unit 5301 at the 57-story, 192-unit tower at 16901 Collins Avenue, which was completed in 2018 by Fortune International Group.

Property records show the developer sold the upper south sky villa, a two-story, five-bedroom, 6,722-square-foot unit to the couple for more than $1,500 per square foot. The unit features 1,161 square feet of exterior space, a gym, master study, master midnight bar, more than 20-foot double-height ceilings, and service quarters, according to Fortune.

Fares Noujaim joined Guggenheim Partners in 2014 as a senior managing director in its investment banking department. He spent 21 years at Bear Stearns and was previously an executive vice chairman at Bank of America Merrill Lynch.

Jade Signature, which was designed by Herzog & de Meuron, features a beachfront deck with two pools and cabanas, a fitness center, a library, wine and reading lounges and a full-service spa.

Property records show buyers at the building included the CEO of UnitedHealth Group in Brazil, Brazilian soccer star Douglas Costa and John Finnegan, the former CEO of Chubb Corp. Jim Smith, CEO of Thomson Reuters, recently closed on a unit at Jade Signature for $7.8 million.

In January, a penthouse traded hands for $18.5 million, or about $2,000 per square foot.

Correction: An earlier version of this story stated the wrong square footage based on information from the property appraiser.