Hedge funder pays $7M for Fendi Chateau condo in Surfside

The unit last sold for $6.3M in 2016

TRD MIAMI /
Apr.April 14, 2020 12:30 PM
Fendi Chateau, Gary Rosenbach (Credit: Shawn Ehlers/WireImage/Getty Images)

Fendi Chateau, Gary Rosenbach (Credit: Shawn Ehlers/WireImage/Getty Images)

A former co-founder of a disgraced hedge fund paid $6.9 million for a condo at Fendi Chateau Residences in Surfside.

Chateau 806, led by Jimena Duran, sold the 4,206-square-foot unit 802 at 9349 Collins Avenue to Gary and Susan Rosenbach for $1,538 per square foot, records show.

The condo has three bedrooms and four bathrooms, according to records.

Saddy Delgado of One Sotheby’s International Realty represented the seller, while Lianne Graubart of Compass brought the buyer, according to condo.com.

Duran last purchased the condo for $6.3 million in 2016, records show.

Gary Rosenbach co-founded the hedge fund Galleon Group in the late 1990s. The firm was one of the world’s 10 largest hedge funds in the early 2000s, according to Bloomberg. Galleon Group’s co-founder, Raj Rajaratnam, was convicted in 2009 for an insider trading scheme in which prosecutors said Rajaratnam made $72 million from illicit tips, Bloomberg reported. Rosenbach was not charged with wrongdoing in the scheme.

According to his LinkedIn, Rosenbach is the co-founder of Eider Fund LP.

The Château Group launched sales of the 12-story, 58-unit Fendi Château Residences in mid-2014, and completed the project in 2016. The beachfront development was designed by Arquitectonica and includes pools, a Jacuzzi, 12 private cabanas, a restaurant and bar, a fitness center and spa, kids’ club, private theater, private dining room, wine cellar and Shabbat elevators.

Buyers at the building include Spanish millionaire Felix Revuelta; Brazilian software firm executives Laércio José De Lucena Cosentino and Marcelo Eduardo Sant’anna Cosentino; and Neville Proa, the owner of a major Brazilian drink manufacturer.


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