Sweet deal: Honey co-founder rents out his Arte Surfside condo for $85K/month
Private equity investor Alex Soltani is moving into Ruan’s 6,300 sf unit
UPDATED, May 5, 1 p.m.
Honey co-founder George Ruan found a tenant for his Arte Surfside condo at a monthly rent of $85,000, sources told The Real Deal.
Alex Soltani, founder, chairman and CEO of Skyview Capital, a private equity firm based in Los Angeles, will be Ruan’s tenant, sources say.
Ruan’s unit 202 at 8955 Collins Avenue in Surfside spans 6,300 square feet, with six bedrooms, seven bathrooms and one half-bathroom, records show.
Brett Harris and Dean Bloch of Douglas Elliman represented Ruan, and Ivan Chorney of Compass represented Soltani. Harris, Bloch and Chorney all declined to comment on the deal.
Ruan co-founded Honey, a coupon-finding browser extension, in 2012. He led the Los Angeles-based firm until PayPal paid $4 billion to buy it in early 2020. Ruan stayed on with PayPal, serving as its vice president for Honey, until he left in August to launch Protagonist, a Miami-based investment firm, LinkedIn shows.
Records show Ruan bought the condo through a Delaware LLC for $16 million in 2021. Developers Alex Sapir and Giovanni Fasciano completed construction of the oceanfront 12-story, 16-unit building in 2020.
Arte Surfside’s amenities include indoor and outdoor pools, tennis courts, a fitness center, sauna and spa.
Soltani won’t be the only moneyed renter in the building. Former first children Ivanka Trump and Jared Kushner have been renting a two-story, 7,000-square-foot condo in the building since 2021. The couple has made Arte their home while the Indian Creek mansion they bought for $24 million that year undergoes renovations.
They got a new landlord at their rented unit in January, when an unknown buyer dropped $17 million to buy the condo.
More recently, sports and media investor David Abrams sold his Arte unit for $14.1 million in an off-market deal last month. A penthouse in the building sold at a loss for $18 million in December. The seller was the blockchain company Chain, which bought the penthouse in a crypto deal for $22.5 million in 2021.