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Oceana Bal Harbour condo sells at loss for under $18M
Trusts had bought 7,400 sf unit in 2022
Two trusts sold a unit at Oceana Bal Harbour for $17.5 million, below their $18 million purchase price two years ago.
Records show the Bal Harbour Condo –– H Trust and Bal Harbour Condo –– W Trust, together managed by New York City attorney Ira Gilbert, sold unit 2001 at 10203 Collins Avenue to a Delaware entity named for the address. The true buyer and sellers are unknown.
Ruthie and Ethan Assouline of Douglas Elliman had the listing, and Monica Cohan of MC Miami Realty brought the buyer.
The trusts bought the 7,400-square-foot condo for $18 million in 2022, records show. The owners then stripped the unit and commissioned plans for renovations with four bedrooms, five bathrooms, two half-bathrooms, a gym, office and two staff rooms, the listing shows. It was sold raw, a spokesperson for the Assoulines confirmed.
The unit hit the market for $20.5 million last year, Realtor.com shows.
Oceana Bal Harbour was completed in 2016 by Eduardo Costantini’s Buenos Aires-based Consultatio. The 28-story, 240-unit oceanfront tower has two tennis courts, spa facilities, a library, a pool and poolside restaurant, and a Jeff Koons sculpture in the entryway.
Last year, a Chicago buyer bought a condo in the tower for a record $25 million. Also last year, a trust managed by a Boston-based attorney dropped $22 million for unit 2803.
More recently, Oceana 1402N LLC sold unit 1402 for $9.5 million in May, according to property records.