Miami investment manager buys penthouse at Echo Brickell

Unit was originally listed for $11.5M

TRD MIAMI /
Jul.July 30, 2019 09:45 AM
Echo Brickell and Steven Pasko

Echo Brickell and Steven Pasko

UPDATED, July 30, 11:45 a.m.: A Miami private investment manager closed on a penthouse unit at Echo Brickell.

Steven Pasko, the co-founder of Miami-based 777 Partners, and his wife, Michelle Pasko paid $8 million for penthouse 54 at 1451 Brickell Avenue, according to Douglas Elliman. Pasko bought the 5,050-square-foot condo from the developers, Property Markets Group and JDS Development Group.

The 57-story, 180-unit luxury condo tower was completed in late 2017.

Pasko was represented by Anca Mirescu of Douglas Elliman, while Sergio Pintos and Liliana Pardo of ISG represented the developers.

The condo was originally listed for $11.5 million, which means it sold for 30 percent below its ask.

Pasko co-founded 777 Partners in 2015. The firm invests in specialty finance businesses, asset originators, and financial technology and service providers. The company has a stake in Flair Airlines, an Edmonton-based Canadian budget airline.

Pasko is also the CEO of SuttonPark Capital, a servicer of structured settlements, life-contingent structured settlements, lottery winnings, and life and investment annuities in the U.S.

The developers launched sales of Echo Brickell in 2013.

The skyscraper, designed by Carlos Ott and Yoo Studio Design, features a 2,800-square-foot fitness center, pool, food and beverage services, hot tubs and sunbathing deck, and a health club and spa.

PMG spent $25 million for the development site in 2013 and financed construction with nearly $124 million in financing from Canyon Capital Realty Advisors.


Related Articles

arrow_forward_ios
WATCH: Developers and co-living operators shed light on the growing industry

WATCH: Developers and co-living operators shed light on the growing industry

Echo Brickell and PMG principal Ryan Shear

Construction of Echo Brickell allegedly damaged neighboring condo building: lawsuit

Renderings of 400 Biscayne and Kevin Maloney 

Developers land $162M loan for downtown Miami co-living tower

A rendering of the project and Joseph Chetrit

Chetrit scores loan for Miami River project, buys out JDS stake

Plans revealed for PMG’s apartment tower at 400 Biscayne

Plans revealed for PMG’s apartment tower at 400 Biscayne

Waldorf Astoria tower in downtown Miami scores $33M pre-development loan

Waldorf Astoria tower in downtown Miami scores $33M pre-development loan

Make sure it’s “well lit for ambiance and seduction”: Nouvel lawsuit against JDS highlights developer’s demands

Make sure it’s “well lit for ambiance and seduction”: Nouvel lawsuit against JDS highlights developer’s demands

Honey, millennials shrunk the office space: panel

Honey, millennials shrunk the office space: panel

arrow_forward_ios