Surf Club Four Seasons Surfside Trades $19M as $31.5M Tops Ask
An aviation executive paid $19M for a Surf Club Four Seasons unit in Surfside as a $31.5M ask topped Miami-Dade's weekly luxury contracts.
A unit at the Four Seasons Private Residences at The Surf Club in Surfside just closed for $19 million, and a second unit in the same building set the asking-price ceiling for Miami-Dade’s entire weekly luxury contract report at $31.5 million. Both point to the same building, at 9001 Collins Avenue, doing the heaviest lifting in the county’s ultra-luxury tier right now.
Why it matters
A trust tied to Richard Gold sold unit 307 in the south tower to an LLC managed by William Papariella, a private aviation executive, and Michael Deo, an accountant, for $19 million. Public sale records show that same 3,948-square-foot unit last closed on March 26, 2021, for $10,448,000, meaning it gained roughly 82 percent in five years without a renovation cycle or a market cool-off in between. Separately, a 5,000-square-foot unit in the building topped the 14 luxury contracts signed in Miami-Dade between August 3 and August 9, according to Douglas Elliman’s Eklund-Gomes weekly report, asking $31.5 million. For a developer or broker pricing a comparable South Florida tower, the read is that the ultra-luxury bid at the very top of the market is still there and still moving, at a building that finished construction nearly a decade ago rather than a brand-new tower with a fresh sales center.
The numbers
The $19 million closed sale prices out to about $4,800 per square foot. The $31.5 million ask on the 5,000-square-foot unit works out to roughly $6,300 per square foot, well above the $2,500 per square foot average that six condo contracts signed that week carried, per the Eklund-Gomes report. Those six condo contracts totaled $69.2 million in asking volume and spent an average of 219 days on market before going under contract; the full 14-contract week across all property types totaled $135.8 million in asking volume at an average of 148 days on market.
What’s next
The gap between the $6,300-per-square-foot ask and the $4,800-per-square-foot closed comp in the same building is the number to watch. If the $31.5 million unit closes near ask, it resets the building’s ceiling; if it settles closer to the recent comp, it confirms sellers are still testing a price the market has not yet confirmed. Fort Partners, the building’s developer, continues building out the Surf Club campus next door, and every trade at 9001 Collins Avenue now doubles as a comp for that pipeline.