Bar Invest Group chief sells Apogee condo in South Beach for $8M

Seller purchased the unit in 2008 for $2.9M

Jacques Barbera and 800 South Pointe Drive (Google Maps)
Jacques Barbera and 800 South Pointe Drive (Google Maps)

Real estate investment chief Jacques Barbera sold his unit at Apogee for $8.4 million.

Barbera and his wife, Jeanne, sold unit 1102 at 800 South Pointe Drive in Miami Beach to Michael Picozzi III, records show.

Jacques Barbera is chairman and CEO of Miami-based Bar Invest Group, an international real estate investment firm that has invested in more than 1 million square feet of retail space and 1,500 apartment units in South Florida, according to its website. Barbera founded the firm in 2001.

Last month, Bar Investment Group sold a multifamily complex in Coconut Creek for $46.5 million.

According to a Securities and Exchange Commission document, the Apogee unit’s buyer, Picozzi III, was the founder and owner of Andover Brokerage, a New York-based broker-dealer. The firm was acquired by SunGard Data Systems in 2003, and Andover’s broker-dealer business was transferred into SunGard’s broker-dealer, Assent.

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The Barberas purchased the condo in 2008 for $2.9 million, records show. It was first listed for $7.3 million in 2013. The most recent asking price was $8.2 million in March.

Bohdan Mastykaz with Douglas Elliman represented the seller, and Tony Giulino of Elliman represented the buyer.

The 2,756-square-foot condo has three bedrooms and three-and-a-half bathrooms. The unit also features 1,200 square feet of balconies and a private elevator, according to the listing. The Related Group developed the 22-story South Beach condo building in 2007.

Recent sales at Apogee include Maxim Group Vice Chairman Edward Rose buying a unit for $9.3 million, Joseph Beard selling a unit for $15.5 million, and an apartment developer spending $7.5 million for a unit.