Berkshire Hathaway top brass pays $15M for flipped Fisher Island condo
Seller Randall Paul Fiorenza picked up a property in Wellington for $10M
Aviation chief Randall Fiorenza flipped his Fisher Island condo to Berkshire Hathaway top executive Ajit Jain for $15 million and bought a property in Wellington.
Fiorenza and his wife Sandra sold their four-bedroom, 4,757-square-foot condo at Palazzo Della Luna on Fisher Island to Jain, property records show. It sold for about $3,150 per square foot.
The Fiorenzas paid about $9.9 million, or $2,080 per square foot, for the unit in August, which means they sold it for a 60 percent markup in about eight months.
Jain, Berkshire Hathaway’s vice chairman of insurance operations and a member of the board of directors, was rumored to be a contender to succeed billionaire Warren Buffet, who is chairman and CEO of the Omaha-based conglomerate.
Jain’s Fisher Island purchase marks a record for non-penthouse sales at Palazzo Della Luna. The building was developed by Heinrich von Hanau’s Fisher Island Holdings and completed in 2019.
Sandra Fiorenza, an agent with One Sotheby’s International Realty, represented her husband and herself in the deal. She declined to comment. Archie Drury with Douglas Elliman represented the buyer.
Randall Fiorenza is president of Tiger Aircraft Trading and CEO of Pan Am Flight Academy, according to his LinkedIn profile. He and his wife have been buying and selling pricey homes in recent years. In 2020, they sold their waterfront mansion in the Coral Gables’ Gables Estates for $12.3 million. They also own unit 6895 in the same Fisher Island building, which they acquired in late 2020 for $16 million.
A deed recorded this week in Palm Beach County shows Randall Fiorenza paid $10.3 million for the 15-acre equestrian estate at 5141 Lasso Way in Wellington. Sandra Fiorenza also represented her husband in the purchase. Ryan Beckett with Bit Realty represented the seller, Foundation Farm LLC, according to Realtor.com.
The seller is managed by Visse Wedell, a Douglas Elliman agent.
The property in Wellington includes 24 stalls, a six-bedroom house, a rider’s lounge, grass jump field and more, according to the listing.
South Florida’s residential market, especially the high-end, has been on fire. Luxury condo sales have soared as the inventory of single-family homes dwindles. Fisher Island, an exclusive island in Miami Beach that’s only accessible by boat or helicopter, is no exception. A penthouse at Palazzo Della Luna recently sold for $30 million to a Delaware buyer, records show.
Other recent Fisher Island closings include Ytech CEO Yamal Yidios’ $17.5 million purchase of a combined unit at Bayview at Fisher Island, and former pro hockey player Simon Name Yapur’s $21.3 million purchase of a unit at Palazzo Della Luna.
Fisher Island developer Von Hanau is in contract to sell the last remaining condo development site to a partnership led by Related Group and billionaire Teddy Sagi. The property at 6 Fisher Island Drive can be developed into a 10-story building with 57 condos.