Developer Jules Trump with the Estates at Acqualina (Getty, Google Maps)
Alberto Saba, son of the late Mexican pharmaceuticals magnate Isaac Saba Raffoul, acquired a condominium at Estates at Acqualina in Sunny Isles Seashore for $10.1 million.
Records clearly show Bella Mare 1901 LLC, a Florida entity registered to Saba, bought unit TS1204 at Estates at Acqualina’s south tower, at 17909 Collins Avenue, from the developer. The $1.8 billion venture is the 3rd Sunny Isles Beach improvement from the Trump Team (not connected to previous President Donald Trump).
Saba and his brother, Manuel Saba, inherited their father’s corporation, Grupo Casa Saba, when the CEO died in 2008. Grupo Casa Saba distributes prescribed drugs, health, and splendor items.
Saba’s entity sold a rental at Bella Maré on Aventura’s Williams Island for $3.2 million in July, which it experienced owned due to the fact 2005, in accordance to information. That project was also created by the Trump Group.
The two-tower Estates at Acqualina undertaking contains the 49-tale, 154-device south tower, which was completed this summer season, and a 50-tale north tower that continues to be below development. Condos in the improvement assortment from $4.2 million to $35 million, and from three to seven bedrooms.
Estates at Acqualina will also incorporate an facilities villa spanning 45,000 square feet with an ice skating rink, bowling alley, a Formulation Just one simulator and a film theater. The celeb-favored cafe Avra will be opening Avra Miami Estiatorio in the challenge as nicely, and both buildings’ lobbies had been intended by Karl Lagerfeld.
The enhancement has been embroiled in litigation, with the developer and builder, Boston-primarily based Suffolk, suing each individual other over alleged delays in development and allegations of unpaid get the job done. The two events settled the lawsuits in the spring, but Suffolk reopened its $15 million match against the Trump Group previous 7 days, re-asserting its allegations of unpaid labor.
Even with the lawful disputes, Estates at Acqualina rental gross sales have attracted major names. LeBron James bought a device in the south tower for $9 million in October. Chuck Khubani, an “As Witnessed On TV” solution retailer, acquired two condos in the south tower in the latest months, totaling $12 million.
