Blockchain firm founder pays $5M for Regalia condo

The 5.5K sf unit last sold for for about $7M in 2014

Miami /
Jun.June 19, 2020 03:30 PM
Alexander Nabutovsky and Regalia

Alexander Nabutovsky and Regalia

The co-founder of a blockchain company paid $5.2 million for a unit at Regalia in Sunny Isles Beach, well under its previous trade price.

Alexander Nabutovsky, co-founder of QuikNode, a blockchain infrastructure firm based in Sunny Isles, closed on unit 29, for $1,179 per square foot. Property records show Regal29LLC, managed by Alberto Guzman, sold the four-bedroom, 5,515-square-foot condo.

Chad Carroll of Douglas Elliman, who’s handled sales in the building, represented the buyer in the off-market deal. Carroll declined to comment on the sale.

The full-floor unit last sold when the oceanfront tower was completed in 2014 for $6.8 million. It features a 2,100-square-foot wraparound balcony.

The 39-story tower at 19575 Collins Avenue has six pools, a spa, cabanas, a fitness center, yoga studio, children’s playhouse, a chef’s kitchen and a champagne bar and wine cellar.

Regalia has made headlines over the years tied to the two remaining developer units. In late May, the Regalia Units Owner LLC, which controls the remaining units, filed for Chapter 11 bankruptcy.

In December, unit 23 sold for $6.15 million, or $1,115 per square foot.


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