Online ticketing mogul sells Oceana Bal Harbour condo at a loss

Seller’s company was valued at $1B in 2017

Dec.December 31, 2019 01:30 PM
Oceana Bal Harbour (Credit: iStock)

Oceana Bal Harbour (Credit: iStock)

The co-founder of a popular online ticketing marketplace sold his Bal Harbour condo for $9 million, a loss from its previous sale in 2018.

Property records show Vivid Seats co-founder Jerry Bednyak sold Oceana Bal Harbour units 2102S and 2102S to 2018 West Churchill Trust, managed by David J. Ferry, managing director of Delaware law firm Ferry Joseph. The trust closed on a $9 million loan.

The double unit spans 7,442 square feet with six bedrooms and eight bathrooms. It last sold in 2018 for $13.25 million.

Bednyak co-created Vivid Seats with his business partner Eric Vassilatos in 2001. Its investors have included Vista Equity Partners and GTCR, a Chicago-based private equity firm. GTCR’s investment in the ticket resale company valued Vivid Seats at more than $1 billion in 2017.

Oceana Bal Harbour, at 10201 Collins Avenue, was completed by developer Eduardo Costantini in 2016. Arquitectonica designed the development, and Piero Lissoni designed the interiors, the private restaurant and the penthouse bathrooms. Enzo Enea designed the pool deck landscape.

Recent sales include the $8.15 million trade of a unit to Brazilian retail mogul Élvio Gurgel Rocha, and the $7.1 million sale of a unit to a South Carolina newspaper family’s trust.

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