Gastroenterologist buys unit at Ritz-Carlton Sunny Isles

The luxury condo development secured its TCO in February

TRD MIAMI /
Apr.April 20, 2020 11:30 AM
Ritz-Carlton Residences Sunny Isles Beach (Credit: Sunny Isles Property Venture LLC and iStock)

Ritz-Carlton Residences Sunny Isles Beach (Credit: Sunny Isles Property Venture LLC and iStock)

 

A Dayton, Ohio gastroenterologist bought a unit at the newly completed Ritz-Carlton Residences, Sunny Isles Beach

Fortune International Group and the Château Group sold unit 4305 to Sara G Ritz LLC, led by Dr. Ramesh Gandhi, for $5.16 million, property records show. It’s one of 71 closings recorded at the luxury condo tower at 15701 Collins Avenue since early March.

Gandhi has been a practicing physician in the Dayton area since 1978, completing more than 50,000 procedures with a very low complication rate, according to his website.

Ritz-Carlton Residences, Sunny Isles Beach secured its temporary certificate of occupancy in February, allowing the development group to start closings at the 52-story luxury oceanfront condo development.

In a TRD webinar earlier this month, Fortune president and CEO Edgardo Defortuna said the developers have paid the roughly $210 million construction loan down to about $50 million. The 212-unit tower is about 85 percent sold. It broke ground in 2016.

Designed by architect Bernardo Fort-Brescia of Arquitectonica, the tower boasts 250 feet of beachfront and over 365,000 square feet of glass. Features include a private club level on the 33rd floor, a beachfront restaurant, pool deck, kids club, full-service spa, fitness center and wellness center.


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