Comment on Private equity firm boss takes $4M loss selling condo to NY real estate titan

Private equity firm boss takes $4M loss selling condo to NY real estate titan

A company managed by the head of private equity firm Apollo Management took a $4 million loss on the sale of a condo in Miami Beach’s Faena House. It marks one of the few times that a condo buyer in the recent development cycle has sold for a significant loss. Completed in 2015 at 3315 Collins Ave., Faena House sold condos at some of the highest prices per square foot in Miami-Dade County. In October, developer Alan Faena announced he would put the next phase of his condo, the Faena Mar, on hold…

 

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