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9349 Collins Ave, Surfside, FL

The Miami real estate market continues to showcase its dynamism and appeal to international buyers. In a recent off-market transaction, Brazilian software mogul Laércio José De Lucena Cosentino sold his luxurious Fendi Château unit in Surfside for a staggering $27.1 million. This sale is a prime example of the high-value deals that are characteristic of Miami's upscale property market.

A Closer Look at the Deal

Cosentino, the founder and chairman of São Paulo-based software company Totvs, parted with his unit 1001 in the Fendi Château, located at 9349 Collins Avenue. The buyer, represented by a land trust managed by attorney Neal Litman, remains undisclosed. The transaction, which was closed off-market, amounted to an impressive $4,000 per square foot.

The Property's Journey

Cosentino's journey with this property began in 2016 when he purchased the unit for $10.8 million. The 6,800-square-foot condo boasts four bedrooms, five bathrooms, and a half-bathroom. It's a testament to the property's value appreciation and the buoyant nature of Miami's real estate market.

Fendi Château: A Symbol of Luxury

Developed by Chateau Group and designed by Arquitectonica, the Fendi Château is a 12-story building with 57 units, ranging from 3,000 to over 7,000 square feet. The building is a beacon of luxury, offering amenities like a restaurant, pools, a library, a movie theater, a fitness center, and a kids club. It's no wonder that the building has attracted high-profile residents, including Tom Brady, who is currently renting a unit while his Indian Creek estate is under construction.

Market Comparisons

To put this sale into perspective, a unit in the same building sold for $10.2 million in August, equating to $3,057 per square foot. Another unit was sold for $9.5 million in June, at $2,751 per square foot. These figures highlight the exceptional nature of Cosentino's sale, both in terms of the price per square foot and the overall transaction value.

Insights for Buyers and Sellers

This sale is indicative of the robust demand for luxury properties in Miami, especially those that offer unique features and prestigious addresses. For potential buyers and sellers in the Miami market, understanding these trends and the factors driving such high-value transactions is crucial.

For more detailed insights into the Miami real estate market and to explore luxury property opportunities, feel free to read the full article. And remember, if you have any questions or need guidance in navigating this dynamic market, don't hesitate to text me. I'm here to help you make informed decisions in your real estate journey.


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