Dallas Developer Buys Ritz-Carlton Sunny Isles Condo
15701 Collins Avenue and Skyrise Properties’ Moshe Azoulay (Zillow, The Residences at Sunny Isles Beach)
A real estate investor from the Lone Star State bought a flipped condo at Ritz-Carlton Residences, Sunny Isles Beach for $5.6 million.
Records show Moshe Azoulay bought unit 4901 at 15701 Collins Avenue from MV Realty Group, a Florida LLC registered to Debra Minuto of Upper Saddle River, N.J.
Azoulay heads Dallas-based Skyrise Properties, a real estate investment firm with commercial and residential holdings throughout Texas, as well as in Asia and Europe, according to its website.
Minuto and her husband, Anthony, own and operate a chain of bagel cafés in New Jersey. Her father-in-law, Marco Minuto, was arrested on racketeering charges in a 2016 Federal Bureau of Investigation sting of 46 alleged mob leaders and affiliates that spanned five states, according to the U.S. Department of Justice. Court records show the case was dismissed in December 2017.
Mikhail Mudrik of The Agency had the listing, and Sarah Gozlan of G Realty Group brought the buyer.
Minuto bought the condo for $4.7 million in January, according to records. The three-bedroom, four-bathroom unit spans 2,800-square-feet and was completed last year, records show.
Azoulay’s purchase marks a $900,000 return on the unit for Minuto in 10 months.
Ritz-Carlton Residences, Sunny Isles Beach is a 52-story, 212-unit oceanfront condo tower developed by Miami-based Fortune International Group and Aventura-based Château Group. Ritz-Carlton manages the condo building, whose amenities include a movie theater, wine lounge, and daily complimentary breakfast, according to the listing.
Ritz-Carlton condos have proven to be a popular choice for luxury buyers in South Florida. A prison security systems CEO bought a penthouse at Ritz-Carlton Residences, Sunny Isles Beach for $25.5 million in April of last year.
More recently, members of the Witkoff family bought two units at Ritz-Carlton Residences, Miami Beach for a combined $10.9 million. Steve Witkoff heads the family’s eponymous real estate investment firm, Witkoff Group.
