French insurance mogul Solly Azar sold his Oceana Bal Harbour condo for $30.5 million to Dan Fischel and Sylvia Neil, prominent legal experts from Chicago.
The sale marks a record for Bal Harbour condo sales. The previous record in the town is another condo at Oceana that traded for $25 million in 2023.
Property records show a trust in Azar’s name sold unit 2601 at 10201 Collins Avenue to Fischel and Neil for $29 million, or nearly $3,900 per square foot. The $30.5 million purchase price includes a one-space parking garage, according to the listing agents.
The 7,442-square-foot, four-bedroom and four-bathroom and two-half-bathroom condo was asking $35.9 million with Ruthie and Ethan Assouline and Eytan Namiech of the Assouline Team at Douglas Elliman. Joelle Oiknine, Marie Miller, and Nathalie Attias of the Joelle Team at One Sotheby’s International Realty represented the buyers.
Azar, who is credited with inventing the wholesale insurance brokerage concept, paid $16.3 million for the two units that make up unit 2601 when the oceanfront tower was completed in 2017. The condo includes a 7,500-plus-square-foot wraparound terrace.
Fischel, a former University of Chicago Law School dean and co-founder of the Chicago-based global economic consulting firm Compass Lexecon, was an expert witness in high-profile cases that included the Enron scandal. Fischel also authored a controversial book in the 1990s titled “Payback: The Conspiracy to Destroy Michael Milken and His Financial Revolution,” which defended Milken, who pleaded guilty to charges related to insider trading.
Neil was a lecturer in law and former associate dean at the University of Chicago Law School. She is board chairperson of the Lyric Opera of Chicago.
The previous record sale in Bal Harbour was also to a Chicago buyer. Two years ago, a hidden entity based in the Windy City paid $25 million for unit 2101, a 7,400-square-foot condo with six bedrooms, eight bathrooms and two half-bathrooms. The Assouline Team also brokered that deal.
The 28-story oceanfront tower includes a spa, two tennis courts, a library, pool and poolside restaurant.
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