The founder of a health care and technology-focused investment firm sold his gut-renovated Continuum South Beach condo for $10.3 million, The Real Deal has learned.
Keith Kosow sold unit 1206 in the south tower of the Continuum at 100 South Pointe Drive. The deed has yet to be recorded, and the buyer is unknown.
Bill Hernandez and Bryan Sereny of Douglas Elliman represented the seller, and Matthew Wilkens of One Sotheby’s International Realty brought the buyer. Wilkens declined to comment on the deal.
Kosow is the founder and chief investment officer of Cedar Holdings, a New York City-based investment firm that focuses on the health care and technology industries. He established the firm in 2005, and it now manages $750 million in investment assets, according to its website.
Kosow bought the Continuum condo for $5.8 million in 2021, records show. The three-bedroom, three-bathroom, one-half bathroom condo spans 2,500 square feet, according to property records. Kosow said he spent $1.2 million completing a gut renovation of the unit. He commissioned Medley-based Westhaven Construction Services, led by CEO Joel Alonso, to lead the buildout. Miami-based interior design firm IG Workshop partnered with Kosow’s mother, interior designer Nannette Lewis, on the design.
Kosow, who has lived at the 318-unit Continuum as a renter for 15 years, said he planned to really put down roots when he bought unit 1206. “I bought it as a long-term home, “ he said, “I never expected it to be worth that much.”
South Florida’s luxury market caught fire early on in the pandemic, and sustained significant price growth for two years. Kosow says the timing was right to sell, and he’s now looking to wait out the market with a rental unit in Continuum.
“It’s a 25-year-old building. There’s a lot of new product coming on line,” he said, referring to the pipeline of luxury condo towers in the works across Miami-Dade. “Where would you rather be?”
New York-based developer Ian Bruce Eichner developed the Continuum’s 42-story south tower in 2002, and the 37-story north tower in 2008. Eichner sold his penthouse at the Continuum for $35 million in 2021, more than two years after it was listed for $48 million.
The complex remains a magnet for high-profile buyers. In March, Related Group’s development CEO Steve Patterson bought a flipped unit in the 42-story south tower for $10 million.
In April, Robert Rivani’s Black Lion bought a building adjacent to the Continuum from one of Eichner’s affiliate companies for $11.5 million, with plans to lease the space to a new restaurant.