Restaurateur of St. Moritz hotel family sells Apogee condo for $8.2M

Restaurateur of St. Moritz hotel family sells Apogee condo for $8.2M

Tuesday, March 14, 2017

Apogee unit 801 and Colin Feuling

Johannes Badrutt, a Swiss restaurateur whose family owns a hotel in St. Moritz, has just sold his condo at the Apogee South Beach for $8.2 million, The Real Deal has learned.

Crossdate Finance Limited, linked to Badrutt, sold unit 801 at the Apogee at 800 South Point Drive in Miami Beach’s South-of-Fifth neighborhood.

Badrutt owned the former JB Kitchen & Bar previously called Badrutt’s Place  in Brickell. His family owns the famous Badrutt’s Palace Hotel in St. Moritz in the Swiss Alps. Records show Badrutt paid $4 million for the condo in 2008.

Colin Feuling and his father Michael Feuling of Miami Investment Property LLC had the listing for the 4,154-square-foot, four bedroom, three-and-a-half-bedroom unit. The unit was last asking $8.99 million, Colin Feuling told TRD. The sale price equates to $1,974 per square foot.

The buyer’s agent was Caroline Draft, with D & A Real Estate, based in New York.

The sale has not yet cleared records, but a closing statement obtained by TRD shows the buyer is Apogee 801 LLC, linked to Warren Kanders of Kanders & Company, an investment firm in Stamford, Connecticut.

The buyer “liked that it was one of the most expensive buildings south of New York City and it has a very exclusive feel, yet it’s a residential neighborhood,” Feuling said, adding that the buyer also has friends who own units in the building.

“It’s good news for our market that it’s not just reliant on international sales,” he said.

The 67-unit Apogee South Beach was completed in 2008 by the Related Group. Apogee’s amenities include an enclosed garage, a swimming pool and deck, gym, spa, valet and concierge services.

The tower currently has one of the priciest listings on the market in South Florida. William Duker, an investor and former attorney, listed his tri-level penthouse in December for $65 million with Carlo Gambino of Douglas Elliman. The five-bedroom unit has 8,271 square feet and 13,146 square feet of outdoor space, split between balconies and a rooftop pool deck.


Source: The Real Deal