Alex Blavatnik sells Faena House unit, buys at Fendi Château

Avista Capital Partners managing director Thompson Dean sold the Fendi Château unit

Miami /
Dec.December 08, 2020 01:30 PM
Alex Blavatnik with his Faena House unit (left) and new Fendi Château unit (Getty, Compass)

Alex Blavatnik with his Faena House unit (left) and new Fendi Château unit (Getty, Compass)

Access Industries executive Alex Blavatnik sold his unit at Faena House in Miami Beach and purchased another at Fendi Château Residences in Surfside, The Real Deal has learned.

Blavatnik, executive vice president and deputy chairman of the New York-based conglomerate Access Industries, sold unit 5A at 3315 Collins Avenue for $11.5 million. Blavatnik’s brother Len, the billionaire founder and chairman of Access Industries, backed the development of the Faena District a few years ago, including Faena House.

Oren Alexander

Oren Alexander

Alex Blavatnik is also an investor in Ocean Terrace, a major mixed-use project planned for North Beach.

His ABF5A LLC sold unit 5A at Faena House to an undisclosed buyer at a slight loss compared to the $11.55 million the LLC paid for the unit in 2015, the year the building was completed. Oren Alexander of Douglas Elliman represented the buyer and seller.

The four-bedroom, five-and-a-half-bathroom condo spans 4,730 square feet and sold for $2,431 per square foot.

Surf’s Up Holdings, a Delaware company tied to Blavatnik’s AVB Management, purchased unit 1006 at Fendi Château for $12.2 million. Avista Capital Partners CEO and managing partner Thompson Dean sold the four-bedroom, five-bathroom condo, according to property records. The 6,783-square-foot condo at 9349 Collins Avenue sold for nearly $1,800 per square foot.

Liz Hogan

Liz Hogan

Karen Krotov

Karen Krotov

Liz Hogan and Karen Krotov of Compass represented the seller, and Richard Goihman of Douglas Elliman represented the buyer. They all declined to comment on the buyer and seller.

Both the Faena House and Fendi Château units sold for discounts off of their asking prices. Fanny Haim Decorators designed both units, according to the listings.

Blavatnik’s Faena House condo hit the market in 2018 for $15.5 million. The asking price was reduced to $12 million in September, according to Realtor.com

Richard Goihman

Richard Goihman

Alexander, who declined to comment on the buyer, said he’s seeing a “huge uptick in activity” at Faena House. His team is listing units 8B and 14B for $9.8 million and $12.8 million, respectively.

The Fendi Château unit was listed for $19.5 million in 2018, and was most recently on the market for $14.5 million. Thompson paid $12 million for the condo in 2016, acquiring it from the developer, the Château Group.

Thompson and his wife Caroline own an oceanfront mansion in Palm Beach that they acquired for $41 million in 2018.






    Related Articles

    arrow_forward_ios
    Phil Gutman with Bess Freedman and Mark Zilbert (Linkedin, Freedman by Studio Scrivo)
    Phil Gutman leaves Brown Harris Stevens Miami
    Phil Gutman leaves Brown Harris Stevens Miami
    Peter Thiel with 445 to 441 East Rivo Alto Drive (Getty)
    PayPal co-founder Peter Thiel revealed as buyer of Miami Beach mansions
    PayPal co-founder Peter Thiel revealed as buyer of Miami Beach mansions
    Ophir Sternberg with the Ritz-Carlton Residences, Miami Beach and the land for the villas (Lionheart Capital)
    GFI buys land for second phase of Ritz-Carlton Residences Miami Beach
    GFI buys land for second phase of Ritz-Carlton Residences Miami Beach
    (iStock)
    South Florida resi sales jump in Q4: Elliman
    South Florida resi sales jump in Q4: Elliman
    Richard Bressler and Lisa Gersh with 1425 West 25th Street, Miami Beach (Getty, Google Maps)
    Media titans buy Sunset Islands home for $5M
    Media titans buy Sunset Islands home for $5M
    Ruthie and Ethan Assouline lead Compass’ Assouline Team. (The Assouline Team, iStock)
    Compass’ Assouline Team expands to Miami Beach
    Compass’ Assouline Team expands to Miami Beach
    Jared Kushner and Ivanka Trump with Arte Surfside (Getty, Arte)
    Ivanka Trump, Jared Kushner to rent luxury condo in Miami’s Surfside
    Ivanka Trump, Jared Kushner to rent luxury condo in Miami’s Surfside
    Images of Arte, Ritz-Carlton Residences Miami Beach, Ritz-Carlton Residences Miami Beach and One Thousand Museum (One Thousand Museum via One Sotheby's)
    Buyers shift to condos as waterfront single-family luxury inventory dwindles in South Florida
    Buyers shift to condos as waterfront single-family luxury inventory dwindles in South Florida
    arrow_forward_ios

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

    Loading...