Ex-Goldman Sachs partner picks up Surf Club condos at a discount

Each of the two units traded for about $1M less than its previous sale

Jan.January 30, 2020 04:30 PM
Jonathan Sobel and his units at the Surf Club (Credit: Realtor and Redfin)

Jonathan Sobel and his units at the Surf Club (Credit: Realtor and Redfin)

UPDATED, Jan. 30, 10:50 p.m.: Former Goldman Sachs partner Jonathan Sobel got a deal on two luxury condos in Surfside.

Property records show Sobel’s Surfside N815 LLC and Surfside S610LLC paid a combined $9.25 million for two units at the Four Seasons Residences at The Surf Club. Each unit traded for about $1 million less than its previous sale.

Sobel, based in New York, is managing member of DTF Holdings and is known for his time working for Goldman Sachs. Sobel was a managing director of Goldman Sachs from 1998 to 2008, and was also global head of the mortgage department, money markets and the firm’s global bank group, according to a press release from 2019.

His LLC paid $7 million for unit 815 in the north tower of the high-end condo development. Pipeline Investments LLC, which is tied to Loeb, Block & Partners LLP partner Jeffrey E. Wacksman, sold the three-bedroom, 3,025-square-foot unit to Sobel. The condo last sold for $8 million in 2018, which means it just traded at a 12.5 percent discount from the previous price.

Sobel also closed on unit 610 in the south tower of the Surf Club for $2.65 million. Records show Neil King sold the two-bedroom, 1,898-square-foot condo. It last sold for $3.7 million, meaning it just sold for a 28 percent discount.

Marcie Gregorio

Marcie Gregorio

Marcie Gregorio of Worldwide Title handled the title and escrow services for the deals, she said. She declined to comment on the buyer’s identity.

Ileana De La Torre of the Corcoran Group was the listing agent for the larger unit. Jo-Ann Forster and Brian Shapiro of Compass were the listing agents for the smaller of the two units. Jennifer Markovich of Podium Realty Group represented the buyer.

Gregorio said the deals show that high-end buyers from New York are continuing to come down to South Florida.

Recent buyers at the Surf Club include former Miami Dolphins head coach Don Shula, who paid $5.5 million for unit 205 in the south building.

The most expensive listing at the Surf Club is unit 801, also in the south tower, which is on the market for $15.2 million, according to Realtor.com. The four-bedroom condo is listed with Liz Hogan of Compass.

An earlier version of this story misstated which agent represented the buyer.

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