Hedge funder Patrick McMahon sold his condo at Four Seasons Residences at the Surf Club for $24.9 million to an entity linked to WorldQuant founder Igor Tulchinsky.
Records show McMahon sold unit N-1021 at Surf Club Four Seasons in Surfside to 9111 CA Holdings LLC, a Delaware entity registered to the Old Greenwich, Connecticut headquarters of asset manager WorldQuant.
John Sandberg with Compass had the listing, and Dina Goldentayer with Douglas Elliman brought the buyer.
Tulchinsky is CEO of WorldQuant, which he founded in 2007 following 12 years with the hedge fund behemoth Millennium Management. For many years, WorldQuant exclusively managed funds on behalf of Millennium, but beginning in 2018 began branching out, according to Bloomberg. WorldQuant now manages $7 billion in assets for Millennium, and $10 billion in non-Millennium assets, the publication reported in July.
Tulchinsky owns homes elsewhere in South Florida and New York. In 2021, he dropped $39.5 million for an oceanfront North Palm Beach estate. It’s currently on the market asking $59.5 million, Zillow shows. In October, he listed his Billionaires’ Row apartment in New York City for $37.5 million, which went into contract in December. The sale has yet to close.
McMahon co-founded MKP Capital Management, a Manhattan-based hedge fund. In 2020, he and his wife, Kristen McMahon, bought a 3.5-acre waterfront compound in Coral Gables for $18 million.
McMahon bought the Surf Club Four Seasons condo for $14.8 million in 2017, property records show. The unit spans 5,300 square feet, with five bedrooms, six bathrooms and one half-bathroom, according to records.
Nadim Ashi’s Fort Partners completed the oceanfront complex in 2017. It includes two 12-story condo buildings, a 72-key hotel, a private club, a restaurant by Thomas Keller and four swimming pools. Architects Kobi Karp and Pritzker Prize-winner Richard Meier designed Surf Club Four Seasons.
Since its completion, Surf Club Four Seasons has attracted high-profile buyers. In December, Ruben Companies boss Richard Ruben sold his unit to fellow developer Peter Fine for $14.3 million. Last year, an entity linked to Apple sold a penthouse for a record $44 million.