Low-income housing developer buys condo at Fendi Château

The new Surfside unit sold for $1,736 psf

Miami /
May.May 30, 2019 03:00 PM
Fendi Chateau and Israel Roizman of Roizman Development (Credit: Chateau Group via Curbed)

Fendi Chateau and Israel Roizman of Roizman Development (Credit: Chateau Group via Curbed)

Israel Roizman, a Philadelphia area low-income housing developer, bought a condo at Fendi Château Residences for $5.8 million.

Roizman purchased the 3,340-square-foot unit 803 at 9349 Collins Avenue in Surfside for $1,736 per square foot, records show. The Château Group, which developed the condominium project, is the seller.

The unit has four bedrooms and four-and-a-half bathrooms.

Roizman’s company is based in a suburb of Philadelphia and has developed over 3,000 rental units throughout the East Coast, according to its website. About 90 percent of the apartments are designated to low and moderate income households.

Roizman’s real estate deals have come under scrutiny from the media and local politicians. In 2015, the company received millions of dollars from the state of New Jersey to refurbish homes in Camden, despite owing $6 million on a previous state government loan, according to the Associated Press.

The Château Group launched sales for the 12-story, 58-unit Fendi Château in mid-2014, and completed the project in 2016. The beachfront development was designed by Arquitectonica and includes pools, a Jacuzzi, 12 private cabanas, a restaurant and bar, a fitness center and spa, kids’ club, private theater, private dining room, wine cellar and Shabbat elevators.

Buyers at the building include Spanish millionaire Felix Revuelta, Brazilian software firm executives Laércio José De Lucena Cosentino and Marcelo Eduardo Sant’anna Cosentino; and Neville Proa, the owner of a major Brazilian drink manufacturer.


Related Articles

arrow_forward_ios
Irving Langer and Fendi Château Residences (Getty, Google Maps)

Multifamily honcho sells Fendi Château penthouse in Surfside at a loss

Multifamily honcho sells Fendi Château penthouse in Surfside at a loss
From left: Jim Cohen, Nancy Corey, Nathan Zeder, Alicia Cervera Lamadrid, Phil Gutman and Mike Pappas (iStock)

South Florida’s pandemic-fueled residential market poised for bull run in 2021

South Florida’s pandemic-fueled residential market poised for bull run in 2021
Kathleen DuRoss Ford and 300 North Lake Way (Getty, Google Maps)

Kate Ford’s Palm Beach estate sells for $55M

Kate Ford’s Palm Beach estate sells for $55M
Alex Sapir and Arte by Antonio Citterio (Getty, Arte)

Developer Alex Sapir sells Arte penthouse for $33M

Developer Alex Sapir sells Arte penthouse for $33M
The Surf Club at 9001 Collins Ave. (Google Maps)

Apartment management firm pays $12M for second condo at Surf Club Four Seasons

Apartment management firm pays $12M for second condo at Surf Club Four Seasons
Alex Blavatnik with his Faena House unit (left) and new Fendi Château unit (Getty, Compass)

Alex Blavatnik sells Faena House unit, buys at Fendi Château

Alex Blavatnik sells Faena House unit, buys at Fendi Château
Oprah Winfrey and (inset) Lawrence Stroll over the unit (Getty)

You get a condo! Billionaire Lawrence Stroll sells Oprah’s former Fisher Island penthouse

You get a condo! Billionaire Lawrence Stroll sells Oprah’s former Fisher Island penthouse
Alex Sapir and Bella Sapir (Credit: Mark Von Holden/WireImage via Getty Images, and ADRIEL REBOH/Patrick McMullan via Getty Images)

Alex Sapir’s family closes on condos at Sapir’s Arte in Surfside

Alex Sapir’s family closes on condos at Sapir’s Arte in Surfside
arrow_forward_ios

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

Loading...