Petra Levin snags condo at Ritz-Carlton Residences Miami Beach

The condo sold for $1,274 psf

Miami /
Sep.September 20, 2019 03:30 PM
Ritz Carlton Residences Miami Beach and Petra Levin

Ritz Carlton Residences Miami Beach and Petra Levin

Petra Levin, the former Miss Germany, bought a condo at the Ritz-Carlton Residences, Miami Beach for $4.8 million, marking one of the first closings at the luxury condo development overlooking Surprise Lake.

Petra Levin purchased the 3,767-square-foot unit 101 at the project at 4701 North Meridian Avenue for $1,274 per square foot, records show. Levin is married to Stephen Levin, who founded Gold Coast Beverage Distributors, which was one of South Florida’s largest beverage wholesalers.

In August, the developers secured a temporary certificate of occupancy for the Mid-Beach project. The development group had launched sales in 2014 and initially said closings would begin by the end of 2017.

The project is developed by Miami-based Lionheart Capital, which is led by Ophir Sternberg and Ricardo Dunin, and New York-based Elliott Management Corp. It is the first full-scale architectural project in the U.S. by Piero Lissoni, an acclaimed Italian architect who is known for his minimalist design.

The Ritz-Carlton Residences has 111 condos and will also have 15 standalone villas, with overall prices ranging from $2 million to $40 million. Levin’s unit is at the ground level of the condo development. The four-bedroom, three-bathroom unit has a 1,900-square-foot terrace with a private pool and outdoor kitchen, according to Zillow.

In addition to the condos and villas, Ritz-Carlton Residences, Miami Beach features gardens, pools and 36 private boat slips. Shared amenities include an art studio, a rooftop pool deck with private cabanas and a restaurant, a waterfront bar and social room, pet grooming facilities, indoor and outdoor yoga studios, a meditation garden and car wash facilities.

Lionheart Capital paid Mount Sinai Medical Center $20 million for the property in February 2012.

The Levins have bought other homes in Miami Beach. The couple bought Major League Baseball player Alex Rodriguez’s home at 4358 North Bay Road for a record $30 million in 2013. Since then, the couple has decorated the 21,179-square-foot mansion with their art and sculpture collection, according to published reports. The dock their 70-foot yacht at the bayfront home.

In 2017, the Levins paid $11.34 million for a waterfront home at 4350 North Bay Road.

In 2014 the beverage tycoon reportedly sold the company for more than $1 billion. In 2015 the couple donated $5 million toward MorseLife Health System’s 182-unit Stephen and Petra Levin Tower for retirees in West Palm Beach.


Related Articles

arrow_forward_ios
Douglas Cramer and 40 La Gorce Circle in Miami Beach (Getty, Google Maps)
“Brady Bunch” producer sells La Gorce Island mansion for $23M
“Brady Bunch” producer sells La Gorce Island mansion for $23M
320 W Dilido Drive, Miami Beach (Google Maps)
AquaBlue developer buys Venetian Islands teardown for $12M
AquaBlue developer buys Venetian Islands teardown for $12M
Oribe Canales (right) and Chris Paciello with the North Bay Road home (Getty)
Oribe’s estate sells Miami Beach home to nightlife mogul
Oribe’s estate sells Miami Beach home to nightlife mogul
1420 West 23rd Street with Rony Seikaly and Todd Glaser (Seikaly via Getty; Glaser by Mary Beth Koeth)
Todd Glaser, Rony Seikaly sell waterfront Sunset Islands mansion to VC investor
Todd Glaser, Rony Seikaly sell waterfront Sunset Islands mansion to VC investor
Randy Frankel and One Ocean (Getty)
Tampa Bay Rays co-owner Randy Frankel sells PH at Related’s One Ocean in South Beach
Tampa Bay Rays co-owner Randy Frankel sells PH at Related’s One Ocean in South Beach
2204 North Bay Road (Felipe Ariano, Google Maps)
Former hedge funder sells waterfront North Bay Road mansion for $20M
Former hedge funder sells waterfront North Bay Road mansion for $20M
Phil Gutman with Bess Freedman and Mark Zilbert (Linkedin, Freedman by Studio Scrivo)
Phil Gutman leaves Brown Harris Stevens Miami
Phil Gutman leaves Brown Harris Stevens Miami
Peter Thiel with 445 to 441 East Rivo Alto Drive (Getty)
PayPal co-founder Peter Thiel revealed as buyer of Miami Beach mansions
PayPal co-founder Peter Thiel revealed as buyer of Miami Beach mansions
arrow_forward_ios

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

Loading...