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.