Former Roadhouse Grill CEO serves up W South Beach condo for $7M

Ayman Sabi unloaded the condo for $2,725 psf; the buyer was tied to a Cayman Islands company

TRD MIAMI /
Sep.September 13, 2019 03:30 PM
Ayman Sabi and W South Beach (Credit: Linkedin, Marriott)

Ayman Sabi and W South Beach (Credit: Linkedin, Marriott)

The former CEO of Pompano Beach-based Roadhouse Grill sold his condo at the trendy W South Beach for $7.2 million, about 22 percent over what he paid for it.

Faisal LLC, which is tied to Ayman Sabi of Pompano Beach, sold the 2,642-square-foot unit at the condo-hotel at 2201 Collins Avenue, records show. The deal for unit 1628 penciled out to $2,725 per square foot.

The buyer was listed as Sletna 1628, which is tied to a Cayman Islands company.

Sabi bought the three-bedroom, three-and-a half bath condo for $5.9 million in 2011, records show.

In September, a W South Beach condo owned by the late star architect Zaha Hadid sold for $5.75 million. Hadid lived in the unit while she was designing One Thousand Museum — her first and final residential project in the western hemisphere.

The 20-story W South Beach was developed by Related Group, Starwood and TriStar Capital. It was designed by Nichols Brosch Sandoval and Costas Kondylis, and completed in 2008.

Sabi’s Roadhouse Grill was a casual dining restaurant founded in 1992, whose motto was “eat, drink and be yourself.” The company struggled financially as it expanded and was reorganized under Chapter 11 bankruptcy in 2002.


Related Articles

arrow_forward_ios
A rendering of the monorail

Miami-Dade approves interim contract for monorail to Miami Beach

Miami-Dade approves interim contract for monorail to Miami Beach
Lord Balfour Hotel

Mezz lender forecloses on Ocean Drive hotel in South Beach

Mezz lender forecloses on Ocean Drive hotel in South Beach
Oceanside Fisher Island and a map of condo sales (Credit: Google Maps)

Weekly condo sales volume in Miami drops below $40M

Weekly condo sales volume in Miami drops below $40M
121 N Hibiscus Drive (Realtor)

Waterfront Hibiscus Island mansion sells for $8M

Waterfront Hibiscus Island mansion sells for $8M
Eighty Seven Park (iStock)

Eighty Seven Park’s priciest penthouse sells for $37M

Eighty Seven Park’s priciest penthouse sells for $37M
Jeffrey Soffer and Fontainebleau Miami Beach (Getty)

Fontainebleau Miami Beach’s $1B loan exits special servicing

Fontainebleau Miami Beach’s $1B loan exits special servicing
Developer Camilo Miguel Jr. and renderings of the project

Mast Capital wins initial approval for shorter Mid-Miami Beach condo project

Mast Capital wins initial approval for shorter Mid-Miami Beach condo project
Len Blavatnik, Vlad Doronin and a rendering of the project (Credit: Mike Coppola/FilmMagic via Getty Images)

Miami Beach approves zoning change allowing for Aman tower

Miami Beach approves zoning change allowing for Aman tower
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...