realestate

Acqualina Condo Sells to Trust for $17M in Latest Major Deal

Trust buys $16.9M condo in Estates at Acqualina's north tower.

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trust managed by attorney Stuart Morris has acquired a condo in the north tower of Estates at Acqualina for $16.9 million, marking another significant closing at the Sunny Isles Beach project this month. The unit, N-TS-37, was purchased from an affiliate of Jules and Eddie Trump's development firm, Trump Group. Notably, the Trumps have no connection to Donald Trump.

    The north tower features 94 units across its 52 stories, while the south tower boasts 154 units over 49 floors. The complex includes upscale amenities such as a restaurant, lobbies designed by Karl Lagerfeld, and a 45,000-square-foot space with a bowling alley, ice skating rink, and movie theater.

    Construction on Estates at Acqualina began in 2018 but was plagued by delays, leading to litigation between Trump and general contractor Suffolk Construction. The developer ultimately fired Suffolk from the project last year. Closings started in 2022, attracting high-profile buyers like LeBron James and Joshua Coba of European Wax Center.

    This month alone has seen two notable sales: a trust linked to billionaire Michael Latifi purchased a south tower penthouse for $26 million, while Moises and Andre El-Mann Arazi acquired a condo in the same tower for $20 million.

Acqualina condo sold to trust for $17 million in Miami Beach real estate deal.