Condo Closings Begin at Multiplan’s 57 Ocean in Miami Beach

Chuck Roberts, Chief Investment Officer, Stifel, next to 57 Ocean in Miami Beach (Stifel, DBOX)

Condo closings at Multiplan Real Estate Management’s 57 Ocean in Miami Beach began last month, with 20 sales recorded so far.

Buyers include Chuck Roberts, chief investment officer at Stifel in New York, who paid $13.8 million for penthouse 2, property records show. Roberts financed the purchase with a $10.3 million mortgage from Stifel Bank & Trust.

Billionaire Brazilian developer Jose Isaac Peres, Multiplan, completed the 18-story, 69-unit building at 5775 Collins Avenue in late September, with a sale of more than $330 million. Sales were launched in 2018 and prices ranged from around $1.5 million to $36 million.

Closings to date total $106.6 million, revealing buyers including:

  • Julio and Lisa Cantillo, who paid $8.6 million for Unit 1501
  • Roland and Margarita Hernandez, who paid $7.9 million for Unit 101. Margarita Hernandez, of Pasadena, Calif., is a former board member of the University of San Diego.
  • Michael Field, trustee of 40B Shelter Island Trust, which paid $7.2 million for Unit 903
  • Ocean 57 LLC, linked to G Dot, which paid $8.1 million for unit 1803
  • Brenda Frecka paid $9.3 million for Unit 1103.

The sales underscore the momentum the South Florida residential real estate market has had throughout the pandemic. As luxury single-family home inventory dwindled, condo sales surged as out-of-state buyers continued to flood the area.

In early September 2021, Multiplan pre-sold the top penthouse to an undisclosed buyer for $36 million. It spans 7,500 square feet of indoor space and has an additional 7,000 square feet of terraces.

The condominium was designed by Bernardo Fort-Brescia of Arquitectonica, with interiors by Brazilian designer Patricia Anastassiadis. The property features a spa and wellness pavilion, poolside treatment cabins and a fitness center.

In May 2020, the developer secured a $59 million construction loan from Bank OZK.

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