European Wax Center co-founder buys Estates at Acqualina unit for $19M, after wanting to flip it for $85M 

European Wax Center co-founder Joshua Coba closed on his planned purchase of a condo at Estates at Acqualina, the Trump Group’s oceanfront Sunny Isles Beach development. 

Coba and his wife, Jenni, paid $19 million for their fourth-floor unit at the north tower at Estates at Acqualina, at 17885 Collins Avenue, property records show. The Cobas listed the three-story unit for $85 million in November 2022, before the building was completed. 

An affiliate of the Trump Group, led by Jules and Eddie Trump, sold the unit. The Trumps are not related to former president Donald Trump. The Cobas financed their purchase with a $10.5 million loan from the developer. 

The 15,000-square-foot condo has seven bedrooms, nine bathrooms and six half-bathrooms, a private pool, four-car garage, according to Estates at Acqualina’s website. It includes a nearly 2,800-square-foot primary suite, a guest house, summer kitchen and oceanfront Fendi-furnished cabana.

Estates at Acqualina includes the 49-story, 154-unit south tower and the 52-story, 94-unit north tower. The towers share a 45,000-square-foot amenities space with a movie theater, bowling alley and ice skating rink. Avra Miami Estiatorio has a restaurant at the property, and the lobbies were designed by the late fashion designer Karl Lagerfeld. 

Estates at Acqualina’s famous owners include NBA superstar LeBron James. 

Construction of the $1.8 billion project and the delayed completion sparked a messy legal battle between the developer and Suffolk Construction. Closings began in the summer of 2022. Last summer, Trump terminated its contract with Suffolk after more than a year of litigation over issues relating to delays, payment, quality of the work, the construction workforce, and more.

The Cobas live on Fisher Island. In March 2023, they sold a unit at Oceanside at Fisher Island for $16.2 million, but they still own a home on the island. In 2022, they paid $16.5 million for a unit at Bayview. 

Joshua Coba, who was born and raised in Miami, retired from Plano, Texas-based European Wax Center in 2017.

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