Low-income housing developer buys condo at Fendi Château

The new Surfside unit sold for $1,736 psf

TRD 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
Four Seasons Residences at the Surf Club in Surfside

Miami condo sales go up, but dollar volume falls

Miami condo sales go up, but dollar volume falls
Map of condo sales and the Surf Club Four Seasons (Credit: Google Maps)

Down again: Miami condo sales declined last week

Down again: Miami condo sales declined last week
Antonio Sersale and Nadim Ashi, with Le Sirenuse at the Surf Club (Credit: Google Maps and Jacopo Raule/Getty Images)

Arrivederci: Le Sirenuse at The Surf Club shutters permanently due to coronavirus

Arrivederci: Le Sirenuse at The Surf Club shutters permanently due to coronavirus
Vladislav Doronin (Credit: Gesi Schilling via Wikipedia)

Billionaire developer Doronin buys Fort Lauderdale assemblage for $63M

Billionaire developer Doronin buys Fort Lauderdale assemblage for $63M
Seth Wise, Co-CEO of The Altman Companies, Altís Ludlam Trail

Altman scores $55M construction loan for Ludlam Trail project

Altman scores $55M construction loan for Ludlam Trail project
Joseph Swedroe (Corcoran, iStock)

Corcoran agent in Miami loses job over “racist and fear-based” marketing

Corcoran agent in Miami loses job over “racist and fear-based” marketing
Vanessa Grout with Vladislav Doronin

Vanessa Grout leaves Ugo Colombo’s firm to lead OKO Group’s real estate arm

Vanessa Grout leaves Ugo Colombo’s firm to lead OKO Group’s real estate arm
Rendering of the project with Jon Paul Pérez (top) and Jorge Pérez 

Related switches gears on Terminal Island project, now plans low-rise offices

Related switches gears on Terminal Island project, now plans low-rise offices
arrow_forward_ios

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

Loading...