Tampa Bay Rays co-owner sells oceanfront W South Beach penthouse for nearly $10M

Unit is now listed for rent asking $95K per month

Miami /
Mar.March 18, 2022 12:30 PM

Randy Frankel and the property, Unit 2001/UPH, 2201 Collins Avenue in Miami Beach (Compass, Getty)

A Tampa Bay Rays co-owner sold an oceanfront W South Beach penthouse for $9.5 million.

Property records show Randy and Barbara Frankel sold unit 2001/UPH-1 at 2201 Collins Avenue to Plano, Texas-based Corporate Plaza III, which is led by Jonathan Azoulay.

The unit is for rent for $95,000 per month, according to Compass’ website.

Randy Frankel also is an investor who has been involved in real estate and has opened restaurants in New Jersey and New York. He also owns wineries, including Shinn Estate Vineyards in Mattituck, New York, and Croteaux Vineyards in Southold, New York, with partners, according to published reports.

Interior views of the property (Compass)

The 2,642-square-foot penthouse has three bedrooms, three bathrooms, and one-half bathroom, records show. The price breaks down to $3,596 per square foot. The Frankels bought the unit in 2010 for $6.2 million, records show.

The condo was listed for $11 million in November, according to Redfin. Eloy Carmenate and Mick Duchon of Corcoran had the listing. Chad Carroll of Compass has the rental listing, according to Compass’ website.

Frankel has made real estate moves in South Florida. He bought a waterfront spec mansion in Miami Beach for $14 million in 2020, and sold a penthouse at One Ocean in South Beach for $6.5 million last year.

The 20-story, oceanfront W South Beach condo-hotel was completed in 2009.

It has been home to real estate developers, restaurant executives and architects. The late architect Zaha Hadid had purchased three units and combined them into one. She lived there while she designed the One Thousand Museum condo tower in downtown Miami. Ray Bassiouni, of ATI Systems, bought Hadid’s unit from her estate for $5.8 million in 2018, and listed it for $8 million last year.

In 2019, former Roadhouse Grill CEO Ayman Sabi sold his W South Beach unit for $7.2 million.

Last year, entertainment electronics tycoon Jeff Walker bought an upper penthouse at W South Beach for $9.3 million.





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