Florida Panthers owner Vincent Viola sells Fort Lauderdale condos

Deal breaks down to more than $1,500 psf

Miami /
Mar.March 02, 2022 03:30 PM

Vincent Viola and Mahesh Desai with 2200 North Ocean Boulevard (Getty, LinkedIn, Google Maps, iStock)

Florida Panthers owner and billionaire Vincent Viola parted ways with two Fort Lauderdale condos for $11.3 million.

Viola and his wife, Teresa, sold units 2103 and 2104 in the south tower of Auberge Beach Residences & Spa, at 2200 North Ocean Boulevard, to Nyota J. and Mahesh P. Desai, property records show.

Mahesh Desai is a co-founder and managing member at Parkland-based Capital Vision, a commercial real estate syndication company.

Unit 2104 spans 2,639 square feet and unit 2103 has 4,757 square feet, which means the deals break down to $1,528 per square foot. The Desais, who purchased the Fort Lauderdale units via a trust in their names, financed the acquisition with a $7.3 million loan from San Francisco-based First Republic Bank, records show.

The Violas paid $10 million for both condos in 2019, shortly after the development was completed.

The Related Group, Fortune International Group and the Fairwinds Group developed Auberge. Amenities include a full-service salon, plunge pool, and indoor and outdoor cabanas. Construction was completed in 2018.

In addition to owning the professional hockey franchise and investing in real estate, Viola is the founder and chairman emeritus of Virtu Financial, a New York City-based high frequency trading firm. He was former President Donald Trump’s first nominee for Secretary of the U.S. Army, but he withdrew himself from consideration for the appointment.

Over a year ago, Viola sold his Brooklyn mansion for a record $25.5 million. Several months later, he sold his Upper East Side townhouse for $59 million to a British billionaire Alan Howard, the co-founder of European hedge fund Brevan Howard Asset Management.

Fort Lauderdale has benefited from a surge in luxury residential sales.

Auberge is one of the newer developments in Fort Lauderdale Beach. Other buyers at Auberge include Fort Lauderdale-based Saber Interactive founder Matthew Karch, who paid $10 million for unit 2303 in the south building in 2020, and former Citrix CEO David Henshall and his wife, Rose, who paid $6.9 million for units 2101 and 2102 three years ago.

Last month, Fort Partners completed the Four Seasons Residences Fort Lauderdale, where sales are averaging more than $2,000 per square foot.





    Related Articles

    arrow_forward_ios
    Black Lion Investments' Robert Rivani and the Ritz-Carlton Residences at 4701 North Meridian Avenue in Miami Beach (Ritz-Carlton Residences, Black Lion Investments)
    Black Lion’s den: Robert Rivani pays $8M for waterfront Miami Beach penthouse
    Black Lion’s den: Robert Rivani pays $8M for waterfront Miami Beach penthouse
    Paul Saunders with 2700 North Ocean Drive (LinkedIn, Redfin)
    Hedge funder Paul Saunders, wife sell Riviera Beach condo
    Hedge funder Paul Saunders, wife sell Riviera Beach condo
    Unit 6A at 3315 Collins Avenue with Arvind Sanger (Redfin, PrathamUSA)
    Hedge funders make a deal: Faena House condo trades for $15.5M
    Hedge funders make a deal: Faena House condo trades for $15.5M
    The Gateway at Wynwood office building at 2916 North Miami Avenue with R&B Realty Group CEO Aron Rosenberg (LinkedIn, R&B Realty Group)
    Lease roundup: Gateway at Wynwood, Goodtime Hotel score tenants
    Lease roundup: Gateway at Wynwood, Goodtime Hotel score tenants
    Sarah and Shaya Boymelgreen with a rendering of 42 Pine (Getty, 42 Pine)
    Boymelgreens launch sales of boutique Miami Beach condos on Pine Tree Drive
    Boymelgreens launch sales of boutique Miami Beach condos on Pine Tree Drive
     EverWest Real Estate Investors’ Rick Stone with  635 Northwest Fourth Ave (LinkedIn, Loopnet)
    EverWest pays $14M for Fort Lauderdale industrial property
    EverWest pays $14M for Fort Lauderdale industrial property
    Naftali Group CEO Miki Naftali and the dev site at 201 North Federal Highway (Loopnet, Naftali Group)
    Naftali doubles down in South Florida, buys Fort Lauderdale dev site for $20M
    Naftali doubles down in South Florida, buys Fort Lauderdale dev site for $20M
    Edgardo Defortuna and Claudio Cordero with rendering of Bay Harbor Islands (Ambienta Developers, Revuelta Architecture International, iStock)
    Alta Developers takes over stalled Bay Harbor Islands condo, to relaunch sales with higher prices
    Alta Developers takes over stalled Bay Harbor Islands condo, to relaunch sales with higher prices
    arrow_forward_ios

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

    Loading...