Jeffrey Soffer taps ex-Turnberry CEO to lead resi division at his new company
It marks a turnaround from a decade ago, when Soffer sued the former Turnberry Limited CEO
Jeffrey Soffer’s Fontainebleau Development brought on former Turnberry CEO Bruce Weiner as chief operating officer of residential development.
Weiner was CEO of Turnberry Limited, the residential branch of Turnberry Associates, from 1997 to 2010, he said. In March, brother and sister Jeffrey and Jackie Soffer officially split up their interests in Turnberry Associates, and co-CEO Jeffrey left to launch Fontainebleau Development, taking with him a number of properties.
Weiner will focus on the company’s luxury condo development, which for now, only includes the 54-story, 154-unit Turnberry Ocean Club project. It’s expected to top off next week and be completed in the spring of next year.
“We probably have three other projects in design and development stage,” Weiner said. “We’re getting ready to bring those to market at the right time, all in South Florida.”
Earlier this year, One Sotheby’s International Realty, which was handling sales and marketing of Turnberry Ocean Club in Sunny Isles Beach, parted ways with Soffer on the project. Sales are at roughly 60 percent and are now handled in-house, Weiner said.
Fontainebleau Development recently secured a $460 million refinance of Turnberry Ocean Club.
After Weiner left Turnberry in 2010, Jeffrey Soffer filed a lawsuit against Weiner and other companies. He accused Weiner of taking a deal to manage the development of the St. Regis Bal Harbour and violating his fiduciary duties to Turnberry in the process, according to the South Florida Business Journal. A judge dismissed the lawsuit in 2014.
“Jeffrey and I have certainly worked out our differences,” Weiner said, adding that they have “always had a great relationship.”
Soffer said that Weiner’s “industry knowledge, strong leadership skills and connections” will enhance the company’s residential projects, according to a press release announcing the hire.
Weiner has more than 40 years of experience, and has been behind the development and sales of 19,000 luxury condos and hotel-condo units valued at more than $20 billion, according to the release. That includes a seven-year stint of working for Jules and Eddie Trump when they were developing Williams Island.