Michael Huffington sells Eighty Seven Park condo for $11M a year after purchase

Huffington sold the 16th floor unit for over 50% more than he paid

Michael Huffington and the condo building (Getty, Eighty Seven Park)
Michael Huffington and the condo building (Getty, Eighty Seven Park)

Arianna Huffington’s ex-husband and former U.S. House Representative Michael Huffington sold his Miami Beach condo for $11.4 million, more than a year after he acquired it for $7.5 million.

Huffington, via a trust, sold unit 1601 at 8701 Collins Avenue to Nancy Peretsman and Robert Scully, who are married, property records show. He sold it for $3.9 million, or more than 50 percent, over what he paid for it in August last year.

The 3,162-square-foot condo sold for $3,605 per foot. It has four bedrooms, three full bathrooms and one half-bathroom, according to the listing. The building was completed in 2019 and is adjacent to the site of the collapsed Champlain Towers South in Surfside.

(Eighty Seven Park)

(Eighty Seven Park)

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Huffington’s Eighty Seven Park condo was on the market for nearly seven months. Harlan Goldberg with Bespoke Real Estate represented Huffington. Frank Kissel BHHS EWM Realty represented the buyers, according to Realtor.com.

Scully is a founding partner of New York investment banking firm Scully Brothers & Foss, according to the New York Times. Scully, who also advised the government on rescuing Fannie Mae, Freddie Mac and American International Group in the wake of the 2008 financial crisis, retired from Morgan Stanley after 34 years on Wall Street that year, the Wall Street Journal reported.

The developer of Eighty Seven Park, a partnership led by David Martin’s Terra, was recently sued by some of the victims, alleging that the development team ignored warnings about the damage the tower’s construction was causing to the Champlain Towers South feet away.

In September, Miami-based Slow Emotion, led by Giovanni and Stefano Giusto, sold unit 602 at Eighty Seven Park, marking the first deal in the luxury high-rise since the deadly collapse of its neighbor in June. That deal broke down to $3,949 per square foot.

In early June, Novak Djokovic sold his Eighty Seven Park condo for $6 million, and in May, Condé Nast chairman sold his unit for $6.2 million.