South Carolina newspaper family’s trust buys Oceana Bal Harbour condo

The Mary Peace Sterling Family Trust bought the 3,992-square-foot condo at 10203 Collins Avenue for $1,778 psf
By Keith Larsen | July 16, 2019 01:30PM

(Credit: iStock, Oceana Bal Harbour)

(Credit: iStock, Oceana Bal Harbour)

UPDATED, July 16, 4:10 p.m.: A South Carolina newspaper family’s trust paid $7.1 million for a condo at Oceana Bal Harbour.

The Mary Peace Sterling Family Trust bought the 3,992-square-foot unit at 10203 Collins Avenue for $1,778 per square foot, records show. The development group Consultatio Bal Harbour sold the unit.

Cory Waldman of Coldwell Banker Residential Real Estate’s Aventura office represented the buyer.

Unit 1401N has three bedrooms and four bathrooms.

In 1919, the Peace family bought the Greenville News, the largest paper for Greenville, South Carolina. The family also formed Greenville’s first radio station and TV station. The family eventually sold their media empire to Gannett in 1995 for $1.7 billion. The city’s performing arts center also bears the family name.

Oceana Bal Harbour has 240 units and an estimated sellout of $1.3 billion. The luxury condo development was built in late 2016. It was designed by Arquitectonica, and features large sculptures by Jeff Koons, which Consultatio developer Eduardo Costantini purchased for $14 million. Piero Lissoni designed the interiors.

The 5.5-acre site was formerly known as the Bal Harbour Beach Club before Consultatio USA purchased it in 2012 for $220 million. A year later, the developer secured a $332 million construction loan for the project from a group of lenders led by HSBC.

In March, a company controlled by Tatiana Panchenkova, the ex-wife of Russian oligarch and real estate tycoon Shalva Chigirinsky, sold a condo at Oceana Bal Harbour for $5.4 million.