Patrick Dovigi Pays Record PSF Price for Fisher Island Condo

Patrick Dovigi Pays Record PSF Price for Fisher Island Condo


Patrick Dovigi in front of his four-bedroom unit at Palazzo Della Luna (Lifestyle Production Group, Chrisn45, CC BY-SA 4.0/via Wikimedia Commons)

A former professional hockey goalkeeper who is familiar with South Florida real estate paid a record price per square foot for a luxury condo in Fisher Island, one of the wealthiest ZIP codes in the country.

Simon Name Yapur sold his four-bedroom, 4,417-square-foot unit at Palazzo Della Luna to a company managed by Patrick Dovigi for $21.3 million, or $4,811 per square foot, according to property records.

Dovigi, founder and CEO of Canada-based Green for Life Environmental, was a goalie for the Edmonton Oilers. Over the past year, he’s acquired two homes in Aspen for $117 million.

Dovfam Fisher Lanai LP, led by Dovigi, financed the Fisher Island purchase with an $8.7 million mortgage from Bank of Montreal, records show.

On a per-square-foot basis, the deal marks a record for Fisher Island and is the second priciest in Miami-Dade. This year, a unit at the Four Seasons Residences at The Surf Club sold for $4,930 per square foot, setting the record countywide.

On Miami Beach’s Fisher Island, Yapur more than doubled his money. Records show he paid $10.5 million for unit 6812 in 2019, the year the building was completed by Heinrich Von Hanau’s PDS Development. The unit has a lanai, or covered terrace, that is bigger than the condo itself, totaling nearly 5,000 square feet with its own pool and cabana, as well as a media room, four bathrooms and three-half bathrooms.

Dora Puig of Luxe Living Realty and Carl Gambino of Compass were the listing brokers. Puig also represented the buyer. She declined to comment.

The deal beats the previous record of $3,924 per foot for penthouse 2 at Palazzo Della Luna. Kayak CEO Steve Hafner paid $40 million for that unit late last year.

Dovigi sold his waterfront Bal Harbour mansion at 252 Bal Bay Drive in 2020 for $23.3 million.

High-end residential sales, in the tens of millions of dollars, have soared recently throughout South Florida, but in particular in Miami-Dade and Palm Beach counties.

In January, Miami-Dade residential sales rose 20 percent, year over year, to 2,645 closings, with condo sales accounting for the majority of deals, jumping 32 percent to 1,637 closings.

Fisher Island, a man-made island off the coast of Miami Beach, is the fifth wealthiest ZIP code in the United States, according to Property Shark. https://www.propertyshark.com/Real-Estate-Reports/most-expensive-zip-codes-in-the-us

Von Hanau’s PDS Development has two developable sites left on the island, one of which is in contract to sell to the Related Group and billionaire Teddy Sagi.



Source link