Alex Sapir’s business partner buys condo unit at Sapir’s luxury Arte

Gerard Guez is paying $11M; it marks just the 3rd of 16 units at the new building that have sold

TRD MIAMI /
Jan.January 29, 2020 12:02 PM
Arte by Antonio Citterio, Alex Sapir and Gerard Guez

Arte by Antonio Citterio, Alex Sapir and Gerard Guez

UPDATED, Jan. 29, 2:48 p.m.: A business partner of Alex Sapir is in contract to purchase a 4,000-square-foot condo at Sapir’s new Miami luxury development.

Gerard Guez is paying $11.5 million for unit 601 at Arte by Antonio Citterio, the 12-story condominium at 8955 Collins Avenue.

It marks the third unit under contract at the 16-unit Surfside development, though no closings have been recorded. Guez’s condo has four bedrooms and four bathrooms, and includes an 840-square-foot terrace. Guez received a 5.6 percent discount off the asking price, according to a document filed with the Tel Aviv Stock Exchange. He will also get a credit for 7.5 percent of the purchase price when the deal closes.

Sapir previously sold two units at the building — to his mother, Bella, and to his sister, Ruth Sapir-Barinstein — for a combined $20 million for the entire eighth floor. That means 13 units remain, or about 81 percent.

The building received its temporary certificate of occupancy late last year. Douglas Elliman took over sales at Arte from Corcoran Sunshine in November. Sales began in December 2018.

In 2018, Guez, a fashion industry executive and founder of the popular Buddha Bar nightclub, sold his 49-percent stake in the NoMo Soho hotel in New York to Alex Sapir, giving him 99 percent ownership of the property. At the same time, Guez’s company, AJNN, was given 9.2 million shares in Sapir Corp., or 26.1 percent of the company.

Sapir teamed up with Guez to buy the NoMo Soho from Deutsche Bank for $205 million in a foreclosure sale in 2014, when it was known as the Mondrian Soho.

Guez, chairman and founder of Sunrise Brands, is under contract to purchase the Surfside unit with his wife, Jacqueline Rose, for $2,713 per square foot. The deal is expected to close in the second quarter of 2020, according to a release. Guez’s other homes include a condo at the ultra-luxury supertall 432 Park Avenue in Manhattan.

Units at Arte start at $10.2 million, and range from three to five bedrooms, and from a half floor to a full floor.

It features landscaping designed by Enzo Enea, an indoor swimming pool, an outdoor pool, a beachfront meditation pond, a fitness center and yoga studio, sauna and steam room and a pet area. Across the street, unit owners will have access to an amenities building.

Italian architect Citterio worked with Kobi Karp Architecture and Interior Design on Arte. Citterio designed the Bvlgari hotels in Dubai, London, Milan and Bali.

Correction: An earlier version of this story misstated the discount and credit that Guez will receive. 


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