Brazilian cosmetics mogul picks up condo at Surf Club Four Seasons

4-bedroom, 5K sf unit sold for about $1,990 psf
By Katherine Kallergis | July 17, 2019 01:30PM

Four Seasons Residences at the Surf Club

Four Seasons Residences at the Surf Club

The co-founder and former CEO of Sack’s, the largest e-commerce cosmetics company in Brazil, paid nearly $10 million for a unit at the Four Seasons Residences at the Surf Club.

Carlos Andre Montenegro and Daniela Martins Montenegro closed on unit 309 in the south tower of the development at 9011 Collins Avenue in Surfside, for $9.95 million, records show. They financed their purchase with a $7.96 million mortgage from UBS.

In 2010, Carlos Montenegro and his partners sold a 70 percent stake in their company, Sack’s, to the luxury goods conglomerate LVMH Moët Hennessy. The deal marked the entrance of Sephora, owned by LVMH, in Brazil, according to a release. Montenegro co-founded Sack’s in 2000. By the time that a majority interest was acquired by LVMH, the e-commerce company carried over 270 brands, including Chanel.

Four Seasons Residences at the Surf Club’s developer, an affiliate of Fort Partners, sold the Surfside unit to the Montenegros. The condo has four bedrooms and about 5,000 square feet of space, high-end finishes and appliances, a laundry room, den and maid’s room.

Ximena Penuela of Surf Club Realty LLC represented the developer, and Fernanda Zomignani of Berkshire Hathaway HomeServices EWM Realty represented the buyer, according to Redfin.
The Four Seasons Residences and Hotel includes a 77-room hotel and two 12-story residential towers, a Le Sirenuse restaurant and a Thomas Keller restaurant. It was completed in 2017.

Owners of units at the project include 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.

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.

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

Richard Lichter, founder and managing partner of private equity firm Newbury Partners, paid $5.5 million and $7.4 million for two units at the Surf Club.