Hair Removal Mogul Looks to Break Miami’s Condo Record with $85 Million Listing

The sellers are Joshua Coba, one of the founders of the hair-removal chain

European Wax Center,

and his wife, Jenni Coba. The Cobas went into contract to buy the unit in 2018 but haven’t closed; they are now trying to reassign their contract, they said. 

Nicknamed Casa di Coba and custom-designed by the couple, the unit has seven bedrooms and 9.5 bathrooms. It is located on the second floor of one of the project’s two towers and is unusual for Miami, where the most expensive condos are typically located at the top of high-rises for the best ocean views. Rather, the roughly 12,000-square-foot unit was the product of a compromise between Mr. Coba, who prefers to live in a condo building, and his wife, who wanted a single-family home, said the couple, who share four children under the age of six. “I don’t want to speak to a doorman,” Ms. Coba said.

The 3-story unit has a private backyard and outdoor pool, they said. It also comes with an adjacent 3,100-square-foot guest apartment and an oceanfront cabana. With its own entrance, garage and elevator, “our property was the perfect compromise because we never have to go into the lobby,” Ms. Coba said. “I never have to see anyone.”

Still, the unit has access to Acqualina amenities such as restaurants, ice skating, bowling, a 30-seat theater, a Formula One simulator and a Rolls-Royce for residents’ use. 

Working with a California-based designer, the Cobas said they spent years selecting all the finishes and furnishings, many of which were custom made for the apartment. They spent about $6 million on furniture, Mr. Coba said, pointing to flourishes like 3-D Lalique crystal detailing on the wall in the primary-bedroom suite. The furniture is included in the asking price. 

The unit has a dining room, study, office and several large family rooms with fireplaces. Construction on the unit is slated to be completed by June, the Cobas said.

“I think one of the biggest selling points will be my closet,” Ms. Coba said. “We made it to be useful, and to make sense, but also to display and be able to enjoy and see your things. As a mom, my closet is one of the only places I can ever be alone.”

The Cobas said they had planned to move into Acqualina from their house in nearby Aventura, but the pandemic threw a wrench in their plans. When Covid delayed Acqualina’s construction by roughly a year, they rented a pandemic “staycation” home on Miami’s Fisher Island in early 2021 and fell in love with that area, they said. They sold their home in Aventura and decided to stay on Fisher Island.

“Our family is very settled in and comfortable here,” Ms. Coba said. “Our kids have made friends in school here. And so we just really don’t want to move them.”

Developed by Jules and Eddie Trump of the Trump Group (no relation to developer

Donald Trump

), Acqualina is sold out, according to Michael Goldstein, president of sales and marketing for the Trump Group. The Cobas declined to comment on how much they agreed to pay for their unit in 2018, but Mr. Goldstein said the market has appreciated significantly since then. He noted that none of the other apartments at the project come close to the scale of this one or are finished to the same level. 

However, the Cobas aren’t the only buyers looking to reassign their contracts. Another couple who bought a penthouse at the project is now trying to reassign it for $45 million, Mr. Goldstein said, after they decided they didn’t want to pull their child out of school in New York.

Mr. Coba said he has been retired from his role at European Wax Center for about five years. More recently, he and his wife secured a minority ownership interest in the Ohm Fitness franchise, he said.

The record price for a Miami condo is $60 million, paid by billionaire hedge-fund manager

Ken Griffin

at Faena House in 2015, Mr. Goldstein said.

In the third quarter, the number of condo sales in the Sunny Isles area fell 45.6% from the same period of last year, although the median sales price increased 3.1%, according to a Douglas Elliman report. 

Write to Katherine Clarke at [email protected]