Condo closings begin at Multiplan’s 57 Ocean condo project in Miami Beach

20 deeds have been recorded since 18-story oceanfront building was completed in September

Miami /
Nov.November 04, 2021 05:30 PM

Chuck Roberts, managing director of investments, Stifel, next to 57 Ocean in Miami Beach (Stifel, DBOX)

Condo closings at Multiplan Real Estate Management’s 57 Ocean in Miami Beach began last month, with 20 recorded sales so far.

Buyers include Chuck Roberts, managing director of investments at Stifel in New York, who paid $13.8 million for penthouse 2, according to property records. Roberts financed the purchase with a $10.3 million mortgage from Stifel Bank & Trust.

Billionaire Brazilian developer Jose Isaac Peres’ Multiplan completed the 18-story, 69-unit building at 5775 Collins Avenue in late September, with a sellout of over $330 million. Sales launched in 2018 and prices ranged from about $1.5 million to $36 million.

The closings to date total $106.6 million, revealing buyers who include:

  • Julio and Lisa Cantillo, who paid $8.6 million for unit 1501
  • Roland and Margarita Hernandez, who paid $7.9 million for unit 101. Margarita Hernandez, of Pasadena, California, is a former member of the University of San Diego’s board of trustees.
  • Michael Field, a trustee of the 40B Shelter Island Trust, which paid $7.2 million for unit 903
  • Ocean 57 LLC, linked to G Dot, who paid $8.1 million for unit 1803
  • Brenda Frecka paid $9.3 million for Unit 1103.

The sales underscore the momentum South Florida’s residential real estate market has been experiencing throughout the pandemic. As inventory for luxury single-family homes has dwindled, condo sales have boomed, with out-of-state buyers continuing to flood the area.

In early September of 2021, Multiplan presold the top penthouse to an undisclosed buyer for $36 million. It spans 7,500 square feet of indoor space and has an additional 7,000 square feet of terraces.

The condo building was designed by Bernardo Fort-Brescia of Arquitectonica, with interiors by Brazilian designer Patricia Anastassiadis. Amenities include a spa, wellness pavilion, poolside treatment cabanas and a fitness center.

In May 2020, the developer scored a $59 million construction loan from Bank OZK.





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