Beauty mogul Marc Capra is making his move to South Florida permanent with his $7 million planned purchase of three condos in Miami Beach.
Capra, co-founder and creative director of Sol de Janeiro, the maker of Brazilian Bum Bum Body Cream, left New York City in May to move to Miami. He recently put under contract a combined unit on the 10th floor of the under-construction Monaco Yacht Club & Residences, as well as a smaller unit on the floor below, Capra told The Real Deal.
Optimum Asset Management is developing the 11-story, 39-unit building at 6800 Indian Creek in North Beach. The project, designed by Arquitectonica with interiors by Italian designer Piero Lissoni, is expected to be completed later this month.
Capra said he left New York City during the pandemic to be in a more open environment with his mother, as well as to be closer to the home he and his husband are building in Brazil. Last year, he purchased a unit at 57 Ocean, nearby at 5775 Collins Avenue in Miami Beach, but he wasn’t happy with it and flipped it months later for a 23 percent increase, property records show.
The pandemic accelerated the trend of Northeasterners moving to Florida, seeking to take advantage of zero state income tax and warm weather. First, they purchased single-family homes, and now they are snapping up condos at a faster rate than homes.
At Monaco Yacht Club & Residences, Capra is paying $5.8 million for unit 10C and 10D, with four bedrooms, four bathrooms, and 3,340 square feet of interior space. He is also paying $1.25 million for unit 9C, a 918-square-foot one-bedroom condo with one and a half bathrooms. Capra said the latter unit will be his personal gym and guest apartment.
Belinda Andretti from Fortune Development Sales represented the developer, while Susan Gale from One Sotheby’s International Realty represented Capra.
Capra said he loves the views at Monaco Yacht Club, preferring to be able to see the city skyline at night, compared with the ocean views at 57 Ocean and other projects.
Capra, who has a background in branding, product development and marketing, co-founded New York-based Sol de Janeiro about seven years ago.