Tech entrepreneur sells Continuum unit to Neuberger Berman exec

The four-bedroom unit sold for $100K less than its previous sale in 2016

Nov.November 06, 2019 11:30 AM
Thomas O’Reilly, John Marshall, Ivan Chorney and Michael Martirena with Continuum North unit 1402/03 (Credit: Douglas Elliman and LinkedIn)

Thomas O’Reilly, John Marshall, Ivan Chorney and Michael Martirena with Continuum North unit 1402/03 (Credit: Douglas Elliman and LinkedIn)

A tech entrepreneur sold his South Beach condo for $8.75 million to an executive at Neuberger Berman in Chicago.

John D. Marshall, founder of the mobile security company AirWatch, sold unit 1402/03 at 50 South Pointe Drive in Miami Beach to Thomas O’Reilly, co-head of non-investment grade fixed income at the Chicago firm, according to a source.

The deal marks the most expensive sale in the Continuum North tower this year, according to a spokesperson from One Sotheby’s International Realty. Ivan Chorney and Michael Martirena of One Sotheby’s represented the buyer, whom they declined to identify.

Eloy Carmenate and Mick Duchon of Douglas Elliman were the listing agents. Elliman declined to comment.

The 3,497-square-foot, four-bedroom condo sold for about $2,500 per square foot. The unit has an open floor plan, stone flooring and a Calcutta marble master bathroom. It hit the market in 2018 for $10.7 million. The price was reduced to $9.25 million earlier this year.

Property records show Marshall’s Miami Sun Holdings IV LLC paid $8.85 million for the unit in 2016, which means he sold it for $100,000 less than he paid.

The Continuum features two lagoon style pools, one lap pool, three clay tennis courts, and a 20,000-square-foot fitness center and spa. Alberto “Beto” Pérez, the creator of Zumba, recently paid $5.5 million for unit 2704 in the North tower of the Continuum.

In July, Marshall proposed plans to convert the nearby building at 224 Second Street in South Beach into a private school for up to 40 children between the ages of four and seven.

Related Articles

David Martin, Russell Galbut, and a 500 Alton rendering (Credit: The Next Miami)

Miami Beach, Crescent Heights, Terra agree to settle dispute over floor-to-area calculations

Amir Zwickel and a Showfields store

Showfields to bring new retail concept to Lincoln Road

Map of priciest condo sales and 100 South Pointe Drive, unit 1501 (Credit: Google Maps and Redfin)

Miami condo sales tank in early February

David Arditi of Aria Development Group and 321 Ocean

Condo association alleges construction defects at 321 Ocean: lawsuit

Julian Cohen and a rendering of the project

Felix and Julian Cohen propose waterfront spec mansion on North Bay Road

1452 Washington Avenue (Credit: Google Maps, iStock)

Spanish investor buys mixed-use building near Española Way

Joseph Menaged with his units at Faena House and One57 (Credit: Facebook, Redfin, StreetEasy)

Father of “Property Wars” star pleads guilty to bank fraud

Russell Galbut and the Shelborne South Beach

Russell Galbut, WP Carey sell Shelborne South Beach