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
    The identity theft charges use Oceana Bal Harbour and Mei Miami Beach condos (Oceana, Mei, iStock, District Court of South Florida)
    $10M mortgage fraud honed in on Oceana Bal Harbour, Mei Miami Beach condos
    $10M mortgage fraud honed in on Oceana Bal Harbour, Mei Miami Beach condos
    New York developers unveil plan for South Beach office project
    New York developers unveil plan for South Beach office project
    New York developers unveil plan for South Beach office project
    Dan Gelber uncut: Miami Beach mayor caught on tape courting developers for Ocean Drive takeover
    Dan Gelber uncut: Miami Beach mayor caught on tape courting developers for Ocean Drive takeover
    Dan Gelber uncut: Miami Beach mayor caught on tape courting developers for Ocean Drive takeover
    Barry Sternlicht’s ex-wife buys condo at Glass in South Beach
    Barry Sternlicht’s ex-wife buys condo at Glass in South Beach
    Barry Sternlicht’s ex-wife buys condo at Glass in South Beach
    Location Ventures launches sales of co-living project in Miami Beach
    Location Ventures launches sales of co-living project in Miami Beach
    Location Ventures launches sales of co-living project in Miami Beach
    From left: Cavalli Tower with Hussain Sajwani of Damac and the Surfside condo collapse site (Damac, Wikimedia, Getty)
    From Dubai to Surfside: Inside Damac’s plans to redevelop the tragic site
    From Dubai to Surfside: Inside Damac’s plans to redevelop the tragic site
    Philly developer Bart Blatstein buys Continuum townhome for $6M
    Philly developer Bart Blatstein buys Continuum townhome for $6M
    Philly developer Bart Blatstein buys Continuum townhome for $6M
    Artefacto owner buys waterfront Palm Island home for $5M
    Artefacto owner buys waterfront Palm Island home for $5M
    Artefacto owner buys waterfront Palm Island home for $5M
    arrow_forward_ios

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

    Loading...