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Chain’s Deepak Thapliyal with 8955 Collins Avenue (Chain via Twitter, Google Maps, Getty)
Surfside’s Alte Penthouse sold at a loss of $18 million. That’s $4.5 million down from last year’s selling price he bought in cryptocurrency.
The 9th floor condominium penthouse at 8955 Collins Avenue sold for $22.5 million last year, according to The Wall Street Journal. The deal comes after developer Alex Sapir and his partner Giovanni Fasciano began raising cryptocurrency funding for potential buyers via SolidBlock, a blockchain and securities trading platform based in Miami Beach. established. It still holds the record for the largest known real estate purchase in crypto.According to Sapir’s press release, the sale is also his price-per-square-foot record for the area at the time. set his $4,441.
The unit was first listed last September at $28 million, according to Compass, and the price has fallen several times before bottoming out at $19.9 million in November.
Danny Hertzberg of Coldwell Banker Realty’s Jills Zeder Group and Craig Heger of Echo Fine Properties were listed. Official Oren Alexander brought in a buyer.
The deed has not yet been recorded and the purchaser is unknown. The seller is Chain, a company that builds blockchain-based fintech and his Web3 cloud service. The company is headquartered in Charlestown, on the Caribbean island of Nevis, according to LinkedIn. CEO Deepak Thapliyal is his NFT collector and promotes the Ethereum-backed Bored Ape Yacht Club collection.
The cryptocurrency market is in a state of sharp decline and turmoil following the spectacular collapse of one of the largest exchange platforms, FTX. Hertzberg told the outlet that this time the chain sold the unit for cash.
Unit PHB is approximately 5,100 square feet and has 4 bedrooms, 4 bathrooms and 1 half bathroom. The 12-story, 16-unit oceanfront building includes a fitness center, pool, spa, sauna, and tennis courts. According to the website, the condo’s amenities also include a children’s playroom, catering kitchen, and lounge.
Aside from its crypto-funding experiments, Arte Surfside also gained notoriety as the home of Ivanka Trump and Jared Kushner after the estate heiress left Washington DC last year. The couple rented a top-floor penthouse in addition to the waterfront Indian Creek estate they purchased last year for $24 million.
Other prominent residents include New York-based hedge fund Emilio Bassini, who bought the unit for $13 million last year.
Most recently, Sapir Corp. sold two units in the building for a combined $23.4 million in February.
— Kate Hinshe
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