Hedge funder sets Palm Island record with $32M purchase
Waterfront mansion sold for 20% discount off the latest asking price
Spec home developer William Campbell sold a waterfront mansion in Miami Beach for $32 million, a record for Palm Island — and a nearly 20 percent discount off the latest asking price.
Campbell sold the 14,000-square-foot, six-bedroom home at 158 Palm Avenue to hedge funder Ron Ozer, according to sources. Ozer is chief investment officer of Statar Capital, a Miami-based investment management firm.
Ozer, who was previously a portfolio manager at Citadel, was sued in 2016 by his ex, model Elmira Naymark, who alleged that Ozer tried to pay her $75,000 to have an abortion, according to the New York Post.
The Miami Beach sale, first reported by the Wall Street Journal, beats the previous Palm Island record of about $30 million set in 2021.
Campbell paid $5.6 million for the 0.7-acre lot at 158 Palm Avenue in 2017, records show. The mansion, completed last year, was listed for sale with Lourdes Alatriste of Douglas Elliman, asking $39.9 million, and asking $250,000 a month for rent. It hit the market in August for $59 million. The price was reduced to about $35 million in October, and increased in December to its most recent asking price.
Price reductions are becoming more common during the residential market slowdown, brokers say and recent closings indicate. In January, prominent trial attorney John Ruiz sold one of his Gables Estates properties for a discounted $30 million, or $15 million off the original asking price.
Alatriste previously said she received offers as high as $200,000 to rent the Palm Island home during Art Basel, but that was for a shorter period of time than is legally allowed.
David Pullman of One Sotheby’s International Realty represented the buyer, whom One Sotheby’s declined to name.
The property, with six and a half bathrooms, includes a chef’s kitchen, guest house, movie theater, pool and a dock with 100 feet of waterfront.
In 2021, spec home developer Pascal Nicolai’s Sabal Development sold the nearby mansion at 135 Palm Avenue to venture capital investor Ben Ling and his partner, front-end web developer Chris Coudron, for about $28 million, property records show. The purchase price was initially reported as $29.5 million, which likely included broker commissions.
In September, Major Food Group co-founder Mario Carbone paid $4.3 million for a non-waterfront home on the island. Gregory Rumpel, senior managing director of JLL’s Hotels & Hospitality Group, and his wife, Jacqueline, sold the property.