Entrepreneur Adam Arviv pays $8M for Palazzo Della Luna unit

Deal equates $2,045 per sf

Miami /
Sep.September 24, 2021 03:08 PM
Entrepreneur Adam Arviv pays $8M for Palazzo Della Luna unit

Adam Arviv and Fisher Island (LinkedIn, Google Maps)

UPDATED, SEPT. 27, 9:30 a.m.: Entrepreneur and investor Adam Arviv and his wife, Ashley Arviv, are the latest resident in the nation’s wealthiest ZIP code of Fisher Island, after buying a Palazzo Della Luna unit for $7.5 million.

Heinrich Von Hanau, who developed the two Palazzo condominiums on the northeast portion of the island, sold unit 6841 to Arviv, according to public records.

Palazzo Della Luna, developed in 2019, is just north of its sister condominium of Palazzo Del Sol, developed in 2016.

The Arvivs’ three-bedroom condo spans 3,667 square feet, property records show. They paid $2,045 per square foot.

Adam Arviv – whose mother is South Florida philanthropist Kathryn Chesler – has ventures in the restaurant and gaming industries, among others. He is the CEO of publicly traded Bragg Gaming.

In 2015, he went into a venture that opened the Japanese-inspired Kasa Moto restaurant in Yorkville, Toronto, according to an Arviv family history website. Arviv partnered with Toronto businessman Mark Silver and the Kimel family, who run Chase Hospitality Group, on the restaurant.

Arviv is also a co-founder of Green Growth Brands, along with partners Joseph Schottenstein and Peter Horvath. The Schottenstein family founded retailers DSW, American Eagle Outfitters and Value City Furniture, among others.

Ashley Arviv is the daughter of Happy Alter, owner and chief executive of Bob’s Barricades.

The Palazzo condos have commanded top-dollar sales in South Florida, as Fisher Island for years has been a magnet for celebrities and famous athletes. It reportedly ranks as the richest ZIP code in the country. In some of the biggest recent deals, former Australian Open champion Caroline Wozniacki and ex-New York Knick David Lee paid $18.7 million in May for a Palazzo Del Sol unit.

In June, retired stockbroker Lucille Zanghi and her husband, James Dow, bought a Palazzo Della Luna unit for $10.7 million.

Other condo buildings on Fisher Island also have attracted well-heeled buyers. Recently, Wackenhut security heir Janice Wackenhut flipped her Bayview Fisher Island penthouse for $6 million more than her purchase price a year ago. She sold it for $21.2 million in August, after paying $15 million for it last year.





    Related Articles

    arrow_forward_ios
    Craig Robins and Jackie Soffer with 2511 Lake Avenue
    Jackie Soffer and Craig Robins ask $45M for waterfront Miami Beach mansion
    Jackie Soffer and Craig Robins ask $45M for waterfront Miami Beach mansion
    Intech Investment Management's Robert Garvy and Warner Pacific Insurance Services' John J. Nelson with The Bristol Palm Beach at 1100 South Flagler Drive
    Financier sells Bristol condo in West Palm for $21M
    Financier sells Bristol condo in West Palm for $21M
    Coral Rock Development Group’s Stephen Blumenthal, David Brown, Victor Brown and Michael Wohl with rendering of Card Sound Key Apartments
    Coral Rock plans mixed-income rental complex in Florida City
    Coral Rock plans mixed-income rental complex in Florida City
    From left: Rockstar Energy's Russell Weiner, Richard Meruelo, and Maria Meruelo along with 5101 Pine Tree Drive in Miami Beach (Getty, Google Maps, Coldwell Banker)
    Divorce, foreclosure and an $18M offer: Inside the saga on Pine Tree Drive
    Divorce, foreclosure and an $18M offer: Inside the saga on Pine Tree Drive
    Treo Construction's Ricardo Halfen and 422 Golden Beach Drive
    Homebuilder sells waterfront Golden Beach spec house for $15M
    Homebuilder sells waterfront Golden Beach spec house for $15M
    Miami Skyline
    South Florida by the numbers: A look back at 2022
    South Florida by the numbers: A look back at 2022
    Arte Surfside at 8955 Collins Avenue
    Arte Surfside closing tops Miami-Dade weekly condo sales
    Arte Surfside closing tops Miami-Dade weekly condo sales
    Alex Sapir and Yanina Sapir
    How real estate’s rich live: Alex Sapir’s wife seeks $175K/month in divorce
    How real estate’s rich live: Alex Sapir’s wife seeks $175K/month in divorce
    arrow_forward_ios

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

    Loading...