Condé Nast chairman sells Eighty Seven Park condo for $6M

Jonathan Newhouse bought the oceanfront unit for the same price in 2019

Miami /
May.May 03, 2021 05:30 PM
Jonathan Newhouse and Eighty Seven Park at 8701 Collins Avenue, Miami Beach (Getty, Eighty Seven Park Condo)

Jonathan Newhouse and Eighty Seven Park at 8701 Collins Avenue, Miami Beach (Getty, Eighty Seven Park Condo)

Condé Nast International’s chairman, Jonathan Newhouse, sold his oceanfront condo at Eighty Seven Park in Miami Beach for $6.2 million.

Records show Newhouse sold unit 1001 at 8701 Collins Avenue to Lix and Buddy LLC, a Delaware corporation. According to an affidavit from Miami-Dade County, Lix and Buddy LLC is led by Nessan Bermingham and Nina Ross of Boston. Bermingham is CEO of Triplet Therapeutics, a Cambridge Massachusetts-based biotechnology company.

Newhouse is a nephew of Samuel I. Newhouse, the founder of Advance Publications, which purchased Condé Nast in 1959 for $5 million. Jonathan’s cousin, Samuel “S.I.” Newshouse, Jr., took over as the chairman of Condé Nast in 1975, according to The Guardian. He died in 2017.

Jonathan Newhouse was CEO and chairman of Conde Nast International from 1990 until 2019, when he relinquished the CEO role but remained chairman, according to published reports.

In 2019, he bought the condo from the developer, Terra, for $6.2 million.

The unit sold for $2,790 per square foot after 101 days on the market, according to condo.com. Stacy Robins of Stacy Robins Companies represented the seller, and Tom Belcher of Douglas Elliman represented the buyer.

The 2,218-square-foot condo has three bedrooms and three-and-a-half bathrooms. The unit also features a 1,715-square-foot, wraparound terrace, according to the listing.

Terra completed the 66-unit, 18-story Eighty Seven Park condo tower in 2019. It was designed by Renzo Piano.

In January, Canadian construction CEO Pierre Pomerleau bought a unit at Eighty Seven Park for $8 million. Pomerleau also bought a different unit in 2019 for $6 million.

Last year a penthouse at the condo tower sold for $37 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
    Shore Park building with Gloria and Emilio Estefan (Douglas Elliman, Getty)
    Ocean Drive property owned by Gloria and Emilio Estefan lists for $45M
    Ocean Drive property owned by Gloria and Emilio Estefan lists for $45M
    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
    Renderings of the Sunset Harbour project with Marc Rowan and Deco Capital Group's Bradley Colmer (Linkedin, Getty)
    Deco Capital moves forward with new version of long-planned Sunset Harbour mixed-use development
    Deco Capital moves forward with new version of long-planned Sunset Harbour mixed-use development
    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
    Don Peebles, Jorge Perez and Barry Sternlicht with the Clevelander hotel (Getty, iStock)
    Alcohol rollback on Ocean Drive pits developers against business owners
    Alcohol rollback on Ocean Drive pits developers against business owners
    arrow_forward_ios

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

    Loading...