Insurance mogul sells Fisher Island condo to White & Case lawyer

Miami /
Sep.September 25, 2020 11:30 AM
Bayview Fisher Island unit 5112 and Thomas E. Lauria (Douglas Elliman, White & Case)

Bayview Fisher Island unit 5112 and Thomas E. Lauria (Douglas Elliman, White & Case)

Safeway Insurance founder William Parrillo and his wife Carol sold their Fisher Island condo for $7 million.

The Parrillos sold the 6,618-square-foot, six-bedroom unit at Bayview to White & Case partner Thomas E. Lauria, property records show. Lauria heads the law firm’s financial restructuring and insolvency practice, and has been involved in restructuring more than $100 billion of debt, according to his bio.

The Fisher Island condo, a ground-floor villa with 2,000 square feet of outdoor space, has a private infinity pool, a library, chef’s kitchen, and waterfront bar/entertainment space. It was designed by Steven G. It sold for $1,058 per square foot.

The condo, at 5112 Fisher Island Drive, was on the market with Robert Conway of Douglas Elliman. Riley Smith of Berkshire Hathaway HomeServices EWM Realty represented the buyer.

The unit last sold in 2004 for $5.2 million. It hit the market in 2018 for $17 million, and was relisted since then. It was most recently asking nearly $11 million.

The Parrillo family founded Safeway Insurance in 1959. The company, which primarily offers auto insurance, is headquartered in Westmont, Illinois and operates in Alabama, Arizona, Arkansas, California, Colorado, Georgia, Illinois, Louisiana, Mississippi, New Mexico, Tennessee and Texas.

The couple, who is from Chicago, plans to leave Fisher Island, Conway said.

Conway, who was hired as the listing agent last year, said a previous contract fell through due to the pandemic.

Lauria, a bankruptcy attorney, has been involved in high-profile cases, acting as lead counsel to the creditors who were awarded ownership of Six Flags.

Fisher Island, one of the most expensive ZIP codes in the U.S., is accessible only by boat or ferry. The entrance fee for an equity membership at the Fisher Island Club is $250,000, and provides access to the island’s private marina, golf course, spa, restaurants, school and retail.

Recent sales on Fisher Island include the $11 million closing of Pacific Star Capital developer Aria Mehrabi’s unit at Oceanside Fisher Island, and the $15 million sale of another unit at Bayview, which sold to an heir to George Wackenhut.






    Related Articles

    arrow_forward_ios
    Mayi de la Vega and Dora Puig with Palazzo Della Luna (Getty, Twitter)

    Luxury brokers battle over $520K commission tied to Fisher Island condo sale

    Luxury brokers battle over $520K commission tied to Fisher Island condo sale
    Paulo Bacchi and 4913 Fisher Island Drive (Artefacto, Realtor)

    Artefacto owner sells Fisher Island pad for $7M

    Artefacto owner sells Fisher Island pad for $7M
    Oceanside Fisher Island and a map of condo sales (Credit: Google Maps)

    Weekly condo sales volume in Miami drops below $40M

    Weekly condo sales volume in Miami drops below $40M
    Thomas Lauria and Heinrich Von Hanau, with Fisher Island

    Fisher Island homeowners sue developer and community association tied to ferry landings

    Fisher Island homeowners sue developer and community association tied to ferry landings
    Heinrich Von Hanau

    Fisher Island developer scores approval for residential projects on exclusive island

    Fisher Island developer scores approval for residential projects on exclusive island
    (Google Maps, Realtor)

    Miami condo sales and dollar volume both rise at end of September

    Miami condo sales and dollar volume both rise at end of September
    Oceanside Fisher Island penthouse with Aria Mehrabi (Realtor) 

    Developer Aria Mehrabi sells Fisher Island penthouse to Mexican banker

    Developer Aria Mehrabi sells Fisher Island penthouse to Mexican banker
    5203 Fisher Island Drive, Pablo Alfaro and Cyril Matz (Credit: Douglas Elliman)

    Wackenhut scion pays $15M for Fisher Island penthouse

    Wackenhut scion pays $15M for Fisher Island penthouse
    arrow_forward_ios

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

    Loading...