New York financier sells Surf Club Four Seasons condo for $19M, more than doubling price in five years

Financier Bippy Siegal and his wife sold their condo at the oceanfront Four Seasons Residences at the Surf Club in Surfside for $18.5 million, months after a penthouse sold for a record $44 million.

Records show Bippy and Jaqueline Siegal sold unit N-321 at 9111 Collins Avenue to Bayit Ne’Eman B’Yam LLC, a Florida entity managed by Shmuel B. Weiss of Woodsmere, New York.

Ximena Penuela of Fort Realty had the listing.

Bippy Siegal is the founder and chairman of New York-based Modern Bank, and CEO of the private equity firm Raycliff Capital. Raycliff invested in the private club Soho House, and is also backing a Miami Design District project alongside Surf Club developer Nadim Ashi’s Fort Partners. 

The Siegals bought the Surf Club unit for $8.7 million in 2019, records show, so they more than doubled their sale price in five years. 

The condo spans nearly 4,000 square feet, with four bedrooms, five bathrooms and one half-bathroom, according to property records. Ashi’s Fort Partners completed the two 12-story oceanfront condo buildings and 72-key hotel in 2017. The project was designed by architects Richard Meier and Kobi Karp and includes four swimming pools, a private club and a restaurant by renowned chef Thomas Keller. 

Luxury buyers have flocked to Surfside for Surf Club units in recent years. In April, an entity linked to Apple sold a penthouse for $44 million, a price record for the condominium. The penthouse had last sold for $29.1 million in 2018. 

In February, venture capitalist Ken Seiff bought a unit for $24 million, just after Total Wine & More owners Robert Trone and Anna Marie Parisi-Trone bought a condo for $15.9 million.