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South Florida

Brazilian fertilizer mogul puts down roots in Sunny Isles Beach

10th-floor condo previously sold in 2014 for $6.3M

Regalia, Unit 10 (Regalia Sunny Isles, Condos & Condos)
Regalia, Unit 10 (Regalia Sunny Isles, Condos & Condos)

A Brazilian businessman who sold his fertilizer production company to a major chemical company is planting himself in South Florida.

Property records show Bronzioll LLC, a Florida company led by Adufértil Fertilizantes founder and CEO Mario Marchionno and Rosanne Zeitune Marchionno, paid $9.2 million for unit 10 at Regalia. The luxury condo tower, at 19575 Collins Avenue, is at the northern border of Sunny Isles Beach.

Indorama Holdings Brasil, the Brazilian subsidiary of Indorama Corp., agreed to acquire Adufértil Fertilizantes and its local subsidiary Agromaster Rio Preto Comercio De Produtos Agropecuários earlier this year, according to a press release. Together, Adufértil and AgroMaster are one of the largest fertilizer distributors in São Paulo, and Brazil is one of the largest fertilizer markets in the world.

Brazilian investment into South Florida real estate is expected to ramp up now that the travel ban has been lifted.

Romeu and Nayla Pradines sold the 4,992-square-foot Sunny Isles Beach unit to the Brazilian investors in an all-cash deal, records show. Alexandre Piquet’s Piquet Law Firm was the escrow and closing agent on the deal.

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Nayla Pradines of Beachfront Realty represented the seller, while Rosa Poler of Optimar International Realty represented the buyer, according to Condo.com. It was on the market for about four months before it sold.

The Pradines couple paid $6.3 million for the unit in 2014 when the building was completed, records show.

Other buyers at Regalia include the family of soccer superstar Lionel Messi. Messi’s family paid $7.3 million for the unit below the Marchionnos’ condo.

Regalia, with 39 stories, has six pools, a spa, cabanas, a fitness center, yoga studio, children’s playhouse, a chef’s kitchen and a champagne bar and wine cellar.

Brokers Mark Pordes and Adam Kaufman were tapped last year to sell the remaining developer units at the tower, as part of a settlement agreement approved by a U.S. bankruptcy judge. The units, which include the penthouse and beach house, are the most expensive condos in the building.

The sale of the beach house is expected to close on Wednesday, court records show. Last week, Judge Laurel Isicoff approved a motion that would allow the debtor to sell both units free and clear of liens, claims and other encumbrances.

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Condo SalesForeign InvestmentRegaliaSunny Isles Beach