Twice as nice: Newbury Partners founder picks up second unit at Surf Club Four Seasons

Lichter paid $7.4M for a nearby unit in December
By Keith Larsen | May 09, 2019 03:30PM

Richard Lichter and Four Seasons Residences at the Surf Club

Richard Lichter and Four Seasons Residences at the Surf Club

A private equity firm executive is buying another unit at The Four Seasons Hotel and Residences at the Surf Club.

Richard Lichter, founder and managing partner of Newbury Partners, paid $5.5 million for unit 807 in the south tower of the luxury condo and hotel development at 9011 Collins Avenue in Surfside, records show. The 2,274-square-foot unit sold for $2,418 per square foot.

In December 2017, Lichter bought unit 809, also in the south tower, for $7.4 million. Lichter could combine the two together into one condo totaling more than 4,865 square feet.

Lichter’s Newberry Partners specializes in acquiring buyout, venture capital, special situations, mezzanine and fund-of-funds limited partnership interests in the secondary market. The Stamford, Connecticut-based company closed its most recent fund in February at $1.45 billion.

Lichter is one of the many high net-worth buyers at The Surf Club. In January, private equity firm founder Doug Kimmelman paid $35 million for a penthouse, which marked the priciest sale to date at the luxury development.

In September, Groupon founder Eric Lefkofsky paid $30.7 million for penthouse 7 in the south tower.

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 also all own units at the Surfside project.

The development includes a 77-room hotel and two 12-story residential towers. It also includes a Le Sirenuse restaurant and a Thomas Keller restaurant. Units range from 1,800 to more than 7,000 square feet. Fort Partners completed the project in 2017.