New York real estate developer Richard Cohen is moving his primary residence to South Florida after purchasing a $20.5 million condo at the Four Seasons Residences at the Surf Club.
Cohen’s move is part of the “seismic” migration of wealth to South Florida, according to Mansfield, Bronstein & Stone, the law firm that represented him in the purchase. He acquired unit 207 in the south tower at the oceanfront luxury condo and hotel development, at 9001 Collins Avenue.
Cohen, who was previously married to newscaster Paula Zahn, is marrying Patricia Duff, a political activist and fundraiser, NewsNation reported. In addition to being an investor and developer in New York, Cohen has also reportedly developed projects in Boston.
Cohen’s four-bedroom, four-bathroom Four Seasons unit spans 4,600 square feet and was designed by Deborah Wecselman, according to the listing. It includes a travertine wine cellar, Boffi kitchen and custom millwork. Mick Duchon of the Corcoran Group and Douglas Elliman’s Dustin Nero represented the seller, while Luxe Living Realty’s Dora Puig represented the buyer, according to Redfin.
The unit hit the market for $22.8 million in November, and the price was reduced to just under $22 million in February.
It sold for $4,420 per square foot.
Ronnie Bronstein, managing partner at Mansfield, Bronstein & Stone, said in a news release that the Surf Club “remains one of the most coveted addresses in the world.”
Cohen’s purchase follows Starbucks billionaire Howard Schultz paying $44 million for a penthouse at the Surf Club. Schultz announced his move from Seattle on LinkedIn. He and his wife Sheri paid $8,000 per square foot for their north tower condo.
The Surf Club has attracted celebrities, developers and financiers. Recent buyers include AI platform founder Daniel Nadler, who paid $38.2 million for a fully furnished penthouse last year.
A stream of billionaires have purchased homes in South Florida in recent months, some propelled by the proposed wealth tax in California. Agents say the proposed pied-a-terre tax in New York will bring more buyers to South Florida.
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