Hair today, gone tomorrow? A European Wax Center co-founder is looking to strip his name off the contract for a three-story luxury condo in Sunny Isles Beach for a measly $85 million.
Joshua Coba and his wife, Jenni Coba, are listing their 12,000-square-foot lower level unit at Estates at Acqualina. They entered into a contract to purchase it in 2018 for an undisclosed amount, the Wall Street Journal reported. The Cobas are at least the second set of presale buyers at the project who are trying to reassign their contracts to new buyers.
If sold at that asking price, the deal would set a record for Miami-Dade County condo sales. It would surpass the $60 million sale of two units at Faena House, though that record was misreported as one sale of a combined unit. Billionaire hedge fund manager Ken Griffin later sold both units at a loss.
The Cobas want to sell their Estates at Acqualina unit because they decided to stay on Fisher Island, where they rented a condo early last year and where their kids attend school, the Journal reported.
Unlike other high-priced condos on the market, the Sunny Isles unit is on the second floor of one of the two towers at 17909 Collins Avenue. It has seven bedrooms, nine and a half bathrooms, its own backyard and pool, and an adjacent 3,100-square-foot guest unit and oceanfront cabana. It also has its own entrance. The $85 million price tag includes about $6 million the couple spent on furniture.
The unit — larger than a mansion — has custom finishes such as 3-D Lalique crystal detailing in the primary suite. It’s expected to be completed in June.
Another couple is also trying to reassign their contract for a penthouse at Estates at Acqualina for $45 million, reportedly because they did not want to pull their child out of school in New York. Condo sales, including preconstruction, have experienced a slowdown this year.
The first tower at the $1.8 billion Estates at Acqualina development was mostly completed this summer. Buyers there include basketball superstar LeBron James. But the project has been at the center of litigation between the developer, Jules and Eddie Trump’s Trump Group, and its general contractor, Suffolk Construction. Though the two sides settled their separate lawsuits against each other in May, Suffolk last month reopened its lawsuit against affiliates of the Trump Group, seeking $15 million in allegedly unpaid work.
Estates at Acqualina includes a 45,000-square-foot amenities villa with an ice skating rink, bowling alley and the Avra Miami Estiatorio restaurant, the latter of which is opening this month. Both towers have lobbies designed by the late fashion designer Karl Lagerfeld.
— Katherine Kallergis