Dialysis exec nabs condo at Ritz-Carlton Residences Miami Beach

Prices at the Ritz-Carlton Residences range from $2 million to $40 million

Oct.October 10, 2019 01:30 PM
Ritz-Carlton Residences Miami Beach

Ritz-Carlton Residences Miami Beach

A healthcare executive picked up a unit at the recently completed Ritz-Carlton Residences, Miami Beach for $6.4 million.

Nelson Shaller, who founded IHS Dialysis, bought unit 502 at the new luxury condo development at 4701 North Meridian Avenue. The development group, led by Lionheart Capital, sold the unit. The sale is one of the first closings at the project on the site of the former Miami Heart Center.

The square footage was not listed in property records, but Realtor.com shows the unit as 4,535 square feet, which would equate to a sales price of $1,411 per square foot.

The condo has three bedrooms and three-and-a-half bathrooms, according to Realtor.com.

Ritz-Carlton Residences, Miami Beach was developed by Miami-based Lionheart Capital, 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.

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 Ritz-Carlton Residences has 111 condos and will also have 15 standalone villas, with overall prices ranging from $2 million to $40 million.

Last month, the CEO of American Eagle Outfitters bought a lower penthouse at the Ritz-Carlton Residences, Miami Beach for $6.5 million. Petra Levin, the former Miss Germany, also bought a condo at the development in September for $4.8 million.

In addition to 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.

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