Fuccillo Auto President Buys Ritz-Carlton Miami Beach Condo
Billy Fuccillo Jr. with rendering of Ritz-Carlton Residences (LinkedIn, Ritz-Carlton, Getty)
Billy Fuccillo Jr., who inherited his father’s car dealership empire, bought a condo at Ritz-Carlton Residences, Miami Beach for $5 million.
Records show Fuccillo bought unit 221 at 4701 North Meridian Avenue from Gresham Group Limited SA, a Panamanian corporation.
Fuccillo is president of Fuccillo Automotive Group. Headquartered in Adams, New York, it is one of the largest privately held car dealership groups in the country, with dealerships in New York and Florida. Fuccillo’s late father, Billy Fuccillo Sr., started the group and was known for his “it’s gonna be huge,” tagline in his commercials. He died last year after suffering a stroke at age 65, WFTV 9 reported.
Juan Carlos Pagan of HAUS Realty had the listing for the condo.
The Gresham Group bought the unit for $3.6 million in 2020, according to property records. The 3,300-square-foot condo has three bedrooms, three bathrooms, and one half-bathroom, records show. Unit 221 is a three-story corner unit with double-height ceilings in the living areas, the listing shows.
Ritz-Carlton Residences, Miami Beach is an eight-story, 111-unit condominium with concierge services provided by the hotel brand. Amenities in the building include a movie theater, spa, art studio, and a marina.
The building has been favored by some of the biggest names in South Florida real estate. Robert Rivani, president of Black Lion Investment Group, bought a unit in the building for $7.5 million in May. Last year, members of the Witkoff family, who lead the development firm Witkoff, bought two units in the building for a combined $10.9 million.
Fuccillo’s purchase was the largest condo sale in Miami-Dade County last week, according to analysis by The Real Deal. Condo prices in the Miami market have taken a dip since the summer, as the market started to cool from its two-year pandemic frenzy.
