Isaac Toledano pays $15M for Sunny Isles penthouse

BH Group chief bought the unit at a discount off its 2019 sale price

BH Group’s Isaac Toledano with a 55th floor unit at Jade Signature (Yizhak Toledano, The Carroll Group)
BH Group’s Isaac Toledano with a 55th floor unit at Jade Signature (Yizhak Toledano, The Carroll Group)

BH Group’s Isaac Toledano paid $15 million for a penthouse in Sunny Isles Beach, about 20 percent less than its sale price three years ago.

Toledano, whose legal and Hebrew name is Yizhak, and his wife, Liat, purchased a 55th floor unit at Jade Signature, at 16901 Collins Avenue, via a Delaware LLC called EIN OD Melvado Trustee For SI 55. The entity financed the purchase with a $10.5 million loan from City National Bank, revealing the Toledanos’ ownership of the LLC.

Property records show Gabius Miami Properties LLC, led by Silvia L. Rosen, sold the nearly 9,200-square-foot penthouse for more than $1,600 per square foot. Rosen is president and chief investment officer of Miami-based LionX Advisors Corp., according to her LinkedIn.

The seller paid $18.5 million for the six-bedroom, seven-and-a-half bathroom condo in 2019, a year after the Sunny Isles Beach building was completed.

The unit features a roughly 5,200-square-foot wraparound balcony, its own gym, pool and service quarters.

Jade Signature penthouse terrace (The Carroll Group)

Jade Signature penthouse terrace (The Carroll Group)

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Fortune International Group, led by Edgardo Defortuna, developed the oceanfront 57-story, 192-unit tower at 16901 Collins Avenue. It was designed by Herzog & de Meuron.

Compass’ the Carroll Group represented the buyer and seller in the latest sale. Chad Carroll and Matthew Dugow were the listing agents, while Sheerelle Toledano, daughter of the Toledanos, represented the buyers.

Carroll also recently represented scrap metal mogul and crypto mining entrepreneur Adam Weitsman, in his $23.5 million purchase of another penthouse in the building.

BH Group and Toledano have become more active in South Florida over the past year. The firm is partnering with Israeli billionaire Teddy Sagi and mega developer the Related Group on three projects: an ultra luxury condo development planned for Fisher Island, the mixed-use Transit Village project in West Palm Beach, and a planned condo project on the bayfront site of the closed White House Inn in North Miami.

Last month, BH Group paid $11 million for the site of a planned 30-story, 400-unit apartment tower in North Miami Beach.

The company also plans to redevelop the Southland Mall property in Cutler Bay with its joint venture partner Electra America. The partnership paid just over $100 million in May for the nearly 80-acre site, which is in an Opportunity Zone.