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.


Related Articles

arrow_forward_ios
Edgardo Defortuna and a rendering of La Playa de Varadero

Not stopping for the pandemic: Fortune, Château could launch Sunny Isles project by year-end

Not stopping for the pandemic: Fortune, Château could launch Sunny Isles project by year-end
Ritz-Carlton Sunny Isles Beach, Nicholas Perdomo Jr., Janine Perdomo

Perdomo Cigars’ owners buy condo at Ritz-Carlton Sunny Isles

Perdomo Cigars’ owners buy condo at Ritz-Carlton Sunny Isles
Fortune International Group’s Edgardo Defortuna, Château Group’s Manuel Grosskopf and a rendering of the project

Fortune and Château score $119M refi for Sunny Isles condo project

Fortune and Château score $119M refi for Sunny Isles condo project
Diego Arnaud and Ritz-Carlton Residences, Sunny Isles Beach

Mexican steel CEO buys condo at Ritz-Carlton in Sunny Isles

Mexican steel CEO buys condo at Ritz-Carlton in Sunny Isles
Rendering of the Ritz-Carlton Residences, Sunny Isles Beach with Manuel Grosskopf and Edgardo Defortuna

Ritz-Carlton Residences Sunny Isles developers pay off $212M loan

Ritz-Carlton Residences Sunny Isles developers pay off $212M loan
Edgardo Defortuna, Joseph Chetrit and a rendering of the project (Credit: JDS Development Group)

Fortune sues Chetrit over stalled Miami River project

Fortune sues Chetrit over stalled Miami River project
Techrin Hijazi with Brown Harris Stevens Miami, and Ivan Ramirez with Royal Palm Residences sales team

Movers & Shakers: Techrin Hijazi joins BHS Miami, Royal Palm project names sales team & more

Movers & Shakers: Techrin Hijazi joins BHS Miami, Royal Palm project names sales team & more
Muse Residences and PMG Managing Partner Ryan Shear (Credit: PMG)

PMG, S2 score victory in legal battle at Muse Residences

PMG, S2 score victory in legal battle at Muse Residences
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...