Regalia closings begin with $10.7M condo sale

Closings are underway at Regalia, starting with the $10.7 million sale of Unit 23 at the luxury Sunny Isles Beach condo tower, The Real Deal has learned.

Dream Golden Enterprises acquired the condo from Regalia Beach Developers in a transaction recorded last Tuesday, according to Miami-Dade County records. State corporate records identify Sergio Todisco of Coral Gables as the buying company’s president. No financing was recorded.

Unit details were not available on the Miami-Dade County property appraiser’s website. According to listings, the condo has four bedrooms and totals more than 5,500 square feet.

The Regalia developers completed the Arquitectonica-designed 46-story tower at 19575 Collins Avenue last month, as previously reported. The project is the sixth completed in South Florida since last decade’s real estate crash. Regalia is slated to open by “mid-summer 2014,” according to last week’s written announcement released by a project spokesperson.

More than 85 percent of the project’s 39 condos are under contract. Units still available include the two-story, 9,915-square-foot “Beach House,” which has an asking price of $27 million; and a four-story, 10,447-square-foot penthouse, which is listed for $40 million.