Starbucks billionaire Howard Schultz pays $44M for Surf Club penthouse

Ex-Starbucks CEO Howard Schultz paid $44 million for a penthouse at the Four Seasons Residences at the Surf Club, marking the latest billionaire to move to South Florida.

Schultz announced his move from Seattle on LinkedIn. He and his wife, Sheri Kersch Schultz, “moved to Miami for our next adventure together,” he said. The Wall Street Journal first reported the deal.

The couple bought penthouse 6 in the north tower at the luxury condo and hotel development, at 9111 Collins Avenue in Surfside. The 5,500-square-foot, four-bedroom and seven-bathroom condo has a 4,100-square-foot rooftop terrace, according to the listing. It was on the market with Ximena Penuela’s Fort Realty, which is the developer’s in-house sales firm. Compass’ Liz Hogan represented the buyer, according to Zillow.

Fort Lauderdale-based Stockbridge Holdings sold the condo. The company paid $18 million for the unit in 2018, property records show.

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. Google co-founder Larry Page paid $188 million for three Coconut Grove homes in deals that were recorded in December and January. In March, his former colleague, Google co-founder Sergey Brin, paid $51 million for the waterfront Allison Island home of LVMH CEO Michael Burke.

Also this month, Facebook founder Mark Zuckerberg and his wife Priscilla Chan closed on an under-construction waterfront Indian Creek estate for $170 million. That deal marks the most expensive home ever sold in Miami-Dade County.

— Katherine Kallergis

Residential

South Florida

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