Top security? Prison equipment mogul drops $26M on Ritz-Carlton Sunny Isles penthouse

Unit sold for $4,177 psf

Miami /
Apr.April 19, 2021 06:00 PM
The Sunny Isles residential tower. (The Ritz-Carlton Residences)

The Sunny Isles residential tower. (The Ritz-Carlton Residences)

A prison security system mogul bought a unit at Ritz-Carlton Residences, Sunny Isles Beach for $25.5 million.

Kenneth Mark Feldman and his wife, Barbara H. Feldman, purchased penthouse 5002 at 15701 Collins Avenue from the developer for $4,177 per square foot.

Kenneth Feldman is the CEO of Coastal Detention Holdings, a Statesboro, Georgia holding company that owns Trussbilt LLC and American Steel Products. Trussbilt LLC and American Steel Products are two prison security equipment manufacturers that merged in 2014, according to Correctional News.

Miami-Dade County property records show the Feldmans also own a unit at Muse Residences, Sunny Isles Beach, which they purchased in 2018 for $8.1 million.

Ritz-Carlton Residences’ developer, Sunny Isles Property Venture LLC, is led by Edgardo Defortuna of Fortune International Group and Manuel Grosskopf of Château Group. Fortune and Château completed the 52-story tower in February 2020. In April of last year, the developers paid off their $212 million construction loan from Bank OZK.

The 209-unit tower was designed by Bernardo Fort-Brescia of Arquitectonica. The interiors were designed by Florentine architect Michele Bönan.

According to floor plans provided by Ritz-Carlton Residences, the recently-sold 6,105-square-foot penthouse has five bedrooms and seven-and-a-half bathrooms. The condo also features 3,730-square-feet of exterior space, including a balcony off the master suite and a 3,470-square-foot terrace with a garden and pool.

Other buyers at Ritz-Carlton Residences, Sunny Isles Beach include Mexican steel executive Eduardo Zundelevich Kauffman, who paid $5.05 million for a unit; and soccer player Alexis Sánchez, who bought a unit for $2.4 million.






    Related Articles

    arrow_forward_ios
    William Patrick McDowell, Camille Roxanne McDowell and Palazzo Del Sol. (Getty, Palazzo Del Sol)
    Multifamily real estate honchos buy second Fisher Island condo for $7M
    Multifamily real estate honchos buy second Fisher Island condo for $7M
    The Estate Companies Principal Jeff Ardizon and Managing Principal Robert Suris with a rendering of the project. (Estate)
    Estate Companies scores $76M construction loan for North Miami Beach apartments
    Estate Companies scores $76M construction loan for North Miami Beach apartments
    10688 Northwest 12th Street in Doral (Google Maps, iStock)
    Bill Seidle’s Nissan dealership buys Doral building for $16M
    Bill Seidle’s Nissan dealership buys Doral building for $16M
    9455 Northwest 40th Street Road in Doral (Google Maps)
    Cold-storage to classrooms: School pays $13M for Doral warehouse, retrofitting as campus
    Cold-storage to classrooms: School pays $13M for Doral warehouse, retrofitting as campus
    1260 Washington Avenue and 1234 Washington Avenue with Location Ventures CEO Rishi Kapoor (Google Maps, Location Ventures)
    Location Ventures buys South Beach office, retail property for $20M
    Location Ventures buys South Beach office, retail property for $20M
    Regalia condominium tower at 19575 Collins Avenue in Sunny Isles Beach (Google Maps)
    Regalia association scores $18M settlement in construction defects lawsuit
    Regalia association scores $18M settlement in construction defects lawsuit
    O. Dean Jernigan and 1325 North Venetian Way, Miami Beach (Google Maps)
    Former self-storage CEO sells Venetian Islands home for $18M
    Former self-storage CEO sells Venetian Islands home for $18M
    (iStock)
    South Florida resi sales, prices jump in the first quarter
    South Florida resi sales, prices jump in the first quarter
    arrow_forward_ios

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

    Loading...