Condé Nast scion drops $6M on Miami Beach condo

Miami /
Dec.December 19, 2019 09:45 AM
Jonathan Newhouse and Eighty Seven Park (Credit: Getty Images)

Jonathan Newhouse and Eighty Seven Park (Credit: Getty Images)

A member of the billionaire family that owns Condé Nast paid $6.2 million for a luxury condo in North Beach.

Property records show Jonathan Newhouse, chairman of the Condé Nast board and former CEO of Condé Nast International, closed on unit 1001 at Eighty Seven Park, at 8701 Collins Avenue in Miami Beach.

David Martin’s Terra, along with partners Bizzi & Partners Development, New Valley and Pacific Eagle, developed the building. The 66-unit, 18-story condo tower was completed in November.

Newhouse is a nephew of Samuel I. Newhouse, who founded Advance Publications. The newspaper company purchased Condé Nast in 1959 for $5 million. Jonathan Newhouse led the company’s international operations since 1990. Since then, it has expanded to 32 markets, more than 120 magazines and about 100 websites, according to the Business of Fashion.

The first closing at Eighty Seven Park was the $6 million sale of unit 601 to Pierre Pomerleau, president and CEO of Pomerleau, one of Canada’s largest construction companies.

Douglas Elliman is handling sales and marketing of Eighty Seven Park. Buyers include tennis pro Novak Djokovic.

The Renzo Piano-designed building features an underground parking garage, a gym and spa, wine bar, and two pools. Rena Dumas Architecture Intérieure and WEST 8 Urban Design & Landscape Architecture also worked on the project’s design.

The building was developed on the site of the former Howard Johnson Dezerland Hotel, originally known as the Biltmore Terrace.


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