From NYC to Miami: Olshan Properties founder buys Bal Harbour condo from Anheuser-Busch CEO

Oceanfront unit went into contract two weeks after it hit the market

Miami /
Mar.March 29, 2022 01:30 PM

Anheuser-Busch InBev’s Michel Doukeris; Olshan Properties’ Morton and Carole Olshan (Anheuser-Busch InBev, Getty Images, Nathalie Azoubel of Miami Condo Advisors)

Olshan Properties’ founder Morton Olshan is among the latest New York buyers to score a home in South Florida.

Records show Michel Doukeris, CEO of Anheuser-Busch InBev, sold unit 701 in the south tower at Oceana Bal Harbour to Olshan and his wife, Carole Olshan, for $9.6 million. Morton Olshan is chairman emeritus of his New York-based commercial real estate firm.

Nathalie Azoubel of Miami Condo Advisors had the listing. Lindsey Lamchick of Douglas Elliman represented the buyers.

Lamchick declined to comment on the buyers’ identities, but said they may eventually be relocating to South Florida. The Olshans own a three-bedroom co-op unit at 812 Fifth Avenue, according to property records. It is not on the market.

Olshan Properties could not immediately be reached for comment. The company’s 23 million-square-foot portfolio includes 9 million square feet of retail, 13,000 multifamily units, 3 million square feet of office and more than 1,400 hotel rooms, according to its website. Olshan founded the firm in 1959.

In Bal Harbor, the Olshans’ new three-bedroom, four-and-a-half-bathroom condo spans 3,992 square feet. It sold for $2,405 per square foot. Including furniture, the unit sold for its asking price of nearly $10 million, according to the brokers involved in the deal.

The oceanfront condo hit the market in January and went into contract two weeks after that, according to Realtor.com.

The corner unit includes a den, marble and wood floors, and a gourmet kitchen with Calacatta marble countertops and Gaggenau appliances.

South Florida’s condo market has boomed in recent months. In February, luxury condo sales jumped 45 percent, year over year, to 237 closings, according to the Miami Association of Realtors.

Azoubel and Lamchick said prospective buyers show strong interest anytime a unit at Oceana hits the market. Earlier this year, a former Russian politician and real estate investor sold his Oceana Bal Harbour condo for $11.5 million. Other recent deals include real estate investor Sam Herzberg’s $6.9 million purchase of a unit last year. And in 2020, convicted tax evader Jack Barouh and his wife Rita paid $6.7 million for a unit on the 14th floor.

“There’s nearby luxury condos right there that just don’t have the same demand as Oceana does,” Lamchick said.

Azoubel, who declined to comment on the buyer and sellers’ identities, said she had a number of backup offers and was hearing from interested buyers even on the day of closing.

Doukeris has been with Anheuser-Busch InBev since 1996, and he was promoted to CEO last summer. Property records show he paid $6.9 million for the Bal Harbour condo in 2016, the same year Eduardo Constantini’s Consultatio USA completed the development.

The 240-unit Oceana Bal Harbour sits on a 5.5-acre site that was formerly the Bal Harbour Beach Club before Consultatio USA purchased it in 2012 for $220 million and redeveloped the property.





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