Alberto Saba, son of the late Mexican pharmaceuticals magnate Isaac Saba Raffoul, bought a condo at Estates at Acqualina in Sunny Isles Beach for $10.1 million.
Records show Bella Mare 1901 LLC, a Florida entity registered to Saba, bought unit TS1204 at Estates at Acqualina’s south tower, at 17909 Collins Avenue, from the developer. The $1.8 billion project is the third Sunny Isles Beach development from the Trump Group (not related to former President Donald Trump).
Saba and his brother, Manuel Saba, inherited their father’s company, Grupo Casa Saba, when the CEO died in 2008. Grupo Casa Saba distributes pharmaceuticals, health, and beauty products.
Saba’s entity sold a condo at Bella Maré on Aventura’s Williams Island for $3.2 million in July, which it had owned since 2005, according to records. That project was also developed by the Trump Group.
The two-tower Estates at Acqualina project includes the 49-story, 154-unit south tower, which was completed this summer, and a 50-story north tower that remains under construction. Condos in the development range from $4.2 million to $35 million, and from three to seven bedrooms.
Estates at Acqualina will also include an amenities villa spanning 45,000 square feet with an ice skating rink, bowling alley, a Formula One simulator and a movie theater. The celebrity-favored restaurant Avra will be opening Avra Miami Estiatorio in the project as well, and both buildings’ lobbies were designed by Karl Lagerfeld.
The development has been embroiled in litigation, with the developer and builder, Boston-based Suffolk, suing each other over alleged delays in construction and allegations of unpaid work. The two parties settled the lawsuits in the spring, but Suffolk reopened its $15 million suit against the Trump Group last week, re-asserting its allegations of unpaid labor.
Even with the legal disputes, Estates at Acqualina condo sales have attracted big names. LeBron James bought a unit in the south tower for $9 million in October. Chuck Khubani, an “As Seen On TV” product retailer, bought two condos in the south tower in recent months, totaling $12 million.