A3 Development Sells Sunny Isles Penthouse for $33M, a Record

A3 Development, the Trump Group affiliate led by brothers Jules and Eddie Trump, sold the penthouse atop its Estates at Acqualina tower in Sunny Isles Beach for $33 million, the highest price ever recorded in the building. The buyer is Acquilina 26 LLC, an entity that Florida Division of Corporations filings tie to Hallandale Beach consultant Lindsay Levert and real estate attorney Maria Marta Calderon, independent confirmation of the buyer identity beyond any single outlet’s reporting.

Why it matters

A $33 million trade for a resale unit, not a fresh developer contract, is the cleanest read available right now on where ultra-luxury pricing power actually sits. South Florida brokers pricing the next generation of Sunny Isles Beach towers have a fresh comparable: buyers are still paying record prices for finished, delivered penthouses at an established address, which supports the pro forma assumptions developers are underwriting on product still under construction. For agents working the top of the market, it is also a data point on how much LLC buyers, the structure common at this price point, are still willing to pay for turnkey inventory over pre-construction risk.

The numbers

The penthouse, unit PH52, spans roughly 8,858 square feet with six bedrooms and 7.5 bathrooms, putting the $33 million price at approximately $3,725 per square foot. Acquilina 26 LLC financed part of the purchase with a $20.5 million loan from Morgan Stanley. Florida Division of Corporations records show Acquilina 26 LLC was formed January 4, 2024, with Calderon’s firm, Maria Marta Calderon PA, as registered agent and Levert listed as manager, both at 601 North Federal Highway in Hallandale Beach. The Estates at Acqualina’s two towers, completed in 2022 and 2023, hold 232 units combined.

What’s next

A3 Development and Trump Group still have unsold inventory scattered across the two towers, and a record resale at this level typically pulls asking prices up on comparable high-floor units still on the market. The next signal worth watching is whether that pricing holds through a slower fourth quarter, or whether this trade proves to be one buyer’s outlier rather than a reset for the building.