Securities trading CEO buys Apogee condo in South Beach for $12M

Unit sold for $3,136 psf

Chris Lorenzen and Richard W. Gray III with Apogee at 800 South Pointe Drive in Miami Beach (LinkedIn, DJR Enterprises, Apogee Condo South Beach)
Chris Lorenzen and Richard W. Gray III with Apogee at 800 South Pointe Drive in Miami Beach (LinkedIn, DJR Enterprises, Apogee Condo South Beach)

The CEO of a securities and derivatives trading firm bought an Apogee condo in South Beach for $11.7 million.

Records show Chris Lorenzen purchased unit 804 at 800 South Pointe Drive in Miami Beach from Richard W. Gray III, individually and as trustee of a trust in his name.

Lorenzen is CEO of Chicago-based Eagle Seven Trading. He’s held the position since 2004, according to his LinkedIn.

Gray is an adviser for DJR Advisors, and was the co-founder and former CEO and chairman of New York-based Travelclick, which Amadeus bought from Thoma Bravo for $1.5 billion in 2018. He also serves on the boards of Visitors for M.D. Anderson Cancer Center in Houston and The Miami Project to Cure Paralysis at the University of Miami Medical School in Miami, according to DJR’s website.

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Gray bought the condo for $5.5 million in 2008, records show. He listed it in 2019 for $13.9 million. The most recent asking price was $12.9 million in July 2020. The unit sold for $3,136 per square foot.

Kathy Green of Coldwell Banker Realty represented the seller, and Scott Betten of Income Real Estate represented the buyer.

Property records show the 3,731-square-foot condo has four bedrooms and three-and-a-half bathrooms. The unit also features 2,441 square feet of terraces and a two-and-a-half-car garage, according to the listing.

The Related Group developed Apogee in 2007. Other recent sales in the 22-story condo building include a real estate investment CEO selling a unit for $8.4 million, Maxim Group Vice Chairman Edward Rose buying a unit for $9.3 million, and the co-founder of Westdale selling a unit for $15.5 million.