Manhattan-based real estate agent Victoria Logvinsky has facilitated a $24.55 million condominium referral sale in Bal Harbour, Florida – the largest intercompany referral in the history of Douglas Elliman Real Estate.
Senada Adzem of Douglas Elliman Florida Brokerage was enlisted to help with the sale for her knowledge of the marketplace.
“This is an historic deal, not only for South Florida, but for the company,” said Douglas Elliman president and CEO Dottie Herman. “It’s the power of our strong brand and our commitment to serving our consumer wherever they might purchase.”
The transaction consisted of five units at the St. Regis Bal Harbour, which officially opened its doors in January. Considered as one unit, the deal is the second-largest condominium sale in Miami-Dade County and the largest single transaction at the St. Regis Bal Harbour. The units collectively total 16,450 s/f of living space.
“My buyer was initially interested in purchasing a single unit, but after seeing the property decided to invest in five,” said Logvinsky. “I was very pleased to have the ability to collaborate with our Florida office that had the local expertise.”
The undisclosed buyer has closed on four out of five of the units. The fifth unit is a model unit and is expected to close in September at the request of the seller and St. Regis Bal Harbour developer Bruce Weiner.
“There is an increasing demand for trophy properties in the U.S.,” said Adzem. “This transaction certainly fortifies the Miami condominium market.”