After selling Wynwood property for megabucks, plumbing mogul buys luxury condo

Lehman paid over $2,100 psf for the four-bedroom unit

TRD MIAMI /
Aug.August 12, 2019 11:30 AM
A rendering of Palazzo Della Luna

A rendering of Palazzo Della Luna

Four years after selling the family’s Wynwood property, pipe and plumbing millionaire Dennis Lehman closed on a new condo on Fisher Island.

Lehman paid $10.4 million, or $2,120 per foot, for a four-bedroom, 4,904-square-foot unit at Palazzo Della Luna, a 50-unit condo building, property records show. PDS Development, led by Heinrich Von Hanau, is the developer of the project. Broker Dora Puig is handling sales.

In 2015, Lehman Pipe Supply sold its Wynwood property at 2800 Northwest Second Avenue to Thor Equities for $41.5 million. Meanwhile, the Lehman family paid about $9 million for land near Miami International Airport where it built a new facility.

Palazzo Della Luna is the second Fisher Island condo project for PDS Development. The building, and the three-year-old Palazzo Del Sol, a 10-story, 43-unit tower next door, were the first new residential developments to be built on the island since 2007. Kobi Karp designed the projects.

At Palazzo Del Sol, buyers have included billionaire and former Hasbro CEO Alan Hassenfeld, Yard House founder and CEO Steele Platt, and former Formula One driver Enrique Bernoldi.

In December, the developer boosted its financing to $140 million for the remaining unsold units at Palazzo Del Sol and to complete construction of Palazzo Della Luna.


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