Fort Partners drops $25M on condo in its Seaway project in Surfside

Nearly a year after closings began, Fort Partners dropped $24.5 million on a unit in its Seaway condo project in Surfside.

Records show HBV Seaway Owner, a Delaware entity managed by Nadim Ashi’s Fort Partners, bought the 4,400-square-foot unit 103 at 9149 Collins Avenue from another affiliate of the developer. The purchase was financed with a $16.4 million loan from the City National Bank of Florida, according to mortgage documents.

While the LLC is registered to Fort Partners, and Ashi signed the mortgage documents, it is unclear whether other buyers are involved in the deal. Fort Partners did not respond to a request for comment.

The firm completed the 11-story, 34-unit Seaway condos last year, and closings began in October. The design team included architect Joseph Dirand and landscape designer Peter Wirtz. It is connected to the adjacent Four Seasons Hotel and Residences at the Surf Club, and residents have access to the amenities at Surf Club Four Seasons, which include four pools, a spa and a Thomas Keller restaurant. Seaway also has its own amenities, including its own pool, restaurant and private event space, according to the project’s website.

The project so far has closed $320.7 million in sales, property records show. In December, health care mogul Frederick Howe was linked to two deals totaling $31.1 million in the project. In October, Stronach Group CEO Belinda Stronach dropped $14.6 million on a Seaway unit.

Surf Club Four Seasons and its adjacent properties have emerged as among the most desirable luxury condo buildings in South Florida. Last year, an entity linked to Apple sold a penthouse at Surf Club Four Seasons for a record $44 million. Earlier this month, private equity boss David Cohen sold his unit in the complex for $17.8 million. At $5,265 per square foot, it marks the highest price per square foot condo sold in Surfside this year. Fort Partners is expanding its Surf Club-affiliated projects. In November, the Fort Lauderdale-based firm landed a $110.7 million construction loan for Surf House, an 11-story, 17-unit condo building planned at 8995 Collins Avenue. In January, it secured $107.6 million in financing for Seaway North at the Surf Club, an 11-story, nine-unit condo project planned at 9165 Collins Avenue.

Residential

South Florida

Closings underway at Fort Partners’ Seaway at the Surf Club luxury condo project