Hedge fund founder spends $14M on Apogee condo in South Beach

Unit sold for $3,286 psf

Miami /
Apr.April 02, 2021 09:45 AM
Jeffrey L. Gates and Apogee at 800 South Pointe Drive in Miami Beach (LinkedIn, Google Maps)

Jeffrey L. Gates and Apogee at 800 South Pointe Drive in Miami Beach (LinkedIn, Google Maps)

A managing partner of a New York-based hedge fund bought a condo at Apogee in Miami Beach for $13.7 million.

Records show Jeffrey L. Gates and his husband, Richard Michael Moran, bought unit 1501 at 800 South Pointe Drive from Ramiro Garza.

Gates founded Gates Capital Management in 1996, and is a managing partner and a member of the investment committee, according to the firm’s website. Moran is a real estate agent at Douglas Elliman, focusing on New York City and the Hamptons, according to the brokerage’s website.

The 4,154-square-foot condo sold for $3,286 per square foot.

Garza listed the unit in August for $14 million. Dora Puig with Luxe Living Realty represented the seller, and Ethan Pickett of Douglas Elliman represented the buyer.

Records show Garza purchased the four-bedroom, three-and-a-half-bath condo for $5.3 million in 2008, and remodeled it in 2009. The Related Group developed the 22-story, 68-unit Apogee in 2007.

In March, the head of a private equity firm spent $11.5 million on a condo at Apogee, and the former president of Hyatt Hotels Corp. sold a unit for $7.5 million.






    Related Articles

    arrow_forward_ios
    Maggie Cordish and Palazzo Della Luna (David x Prutting/Patrick McMullan/Getty)
    Maggie Cordish, former White House adviser, pays $7M for Fisher Island condo
    Maggie Cordish, former White House adviser, pays $7M for Fisher Island condo
    Miami-Dade condo sales map and Arte by Antonio Citterio (Google Maps)
    Miami condo sales drop in early April
    Miami condo sales drop in early April
    Ronny Finvarb with a rendering of 1790 Alton Road (GEK Architecture)
    Ronny Finvarb plans boutique hotel on Alton Road site in Miami Beach
    Ronny Finvarb plans boutique hotel on Alton Road site in Miami Beach
    The home will be developed by Andres Isaias-led Andian Group and Alejandro Diaz Bazan of Coldwell Banker’s The Jills Zeder Group. (Bazan, Jills Zeder)
    Eastern Real Estate co-founder pays $18M for waterfront North Bay Road home
    Eastern Real Estate co-founder pays $18M for waterfront North Bay Road home
    Tommy Mottola and Thalía with an aerial view of 31 La Gorce Circle (Getty)
    Hedge funder flips Miami Beach teardown to Tommy Mottola and Thalía
    Hedge funder flips Miami Beach teardown to Tommy Mottola and Thalía
    7-Eleven at 6348 Collins Avenue in Miami Beach (Google Maps, iStock)
    Fill ‘er up: Power Petroleum buys Miami Beach 7-Eleven with gas station for $11M
    Fill ‘er up: Power Petroleum buys Miami Beach 7-Eleven with gas station for $11M
    Don and Katrina Peebles with their recently purchased Bath Club unit. (Getty, ONE Sotheby’s International Realty)
    Don Peebles buys unit at the Bath Club, finds buyer for Coral Gables estate
    Don Peebles buys unit at the Bath Club, finds buyer for Coral Gables estate
    Florinda “Flory” Padrón and 1335 North Venetian Way (Google Maps, Instagram/Padron)
    Widow of late Padrón Cigars founder sells waterfront Venetian Islands home for $6M
    Widow of late Padrón Cigars founder sells waterfront Venetian Islands home for $6M
    arrow_forward_ios

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

    Loading...