Penthouse gifted by billionaire Jorge Pérez to nonprofit sold for $10 million

Original By Dina Katgara – South Florida Business Journal

An ocean-view penthouse on South Beach that was deeded to the Miami Foundation has sold for $10 million.

In April, Related Group Chairman and CEO Jorge M. Pérez and his wife Darlene deeded the condominium at 1 Collins Ave., Unit 706, to the Miami Foundation for $100. The unit sold on June 25 for $10M, a donation that will go toward local causes focusing on arts, culture, and economic development, according to Miami Foundation CEO Rebecca Fishman Lipsey.

“The Pérez family set the bar for bold and innovative generosity,” Lipsey said. “The Miami Foundation loves partnering with donors to activate untraditional assets as donations to strengthen Miami.”

She added that when a donor gives the property to charity, 100% of the proceeds go to helping the community.

The Miami Foundation worked with Jill Hertzberg from Coldwell Banker Realty to sell the property at $2,995 per sq. ft. to Lawrence Gould and Suzanne Grossinger-Gould. The buyers were represented by Mick Duchon with the Corcoran Group. The sale was all time record for the complex, One Ocean, according to Hertzberg.

The 3,339-square-foot condo features four bedrooms, 5.5 bathrooms, a private rooftop, a wraparound balcony, private elevator entrance, and floor-to-ceiling windows for an unobstructed view of the Atlantic Ocean. The kitchen is fitted with marble countertops, wooden cabinetry, Wolf appliances and a wine cooler.

Built in 2016, One Ocean, features amenities like an infinity pool, zen deck, and fitness center.

This is the Pérez family’s second real estate donation to the Miami Foundation, the first being their home in Miami’s Coconut Grove which sold in 2021 for $33 million. Jorge Pérez has worked with the Miami Foundation for more than 30 years, serving on the Board of Trustees from 1991 through 1996. So far, the family has donated over $135M in partnership with the Miami Foundation.

“Our family is honored to support the Miami Foundation, as the organization has been an irreplaceable partner in our efforts to build a stronger, more resilient South Florida,” Jorge Pérez said. “We hope to inspire others to take action and leverage their resources for the greater good.”

The couple has pledged to donate a majority of their wealth to philanthropic causes as a part of the Giving Pledge, a movement started by Bill Gates and Warren Buffett. The Pérez family meets with the foundation on a quarterly basis, hosts an open call for applications and decides where resources go, according to Lipsey.

The funding from the condo for the Miami Foundation is especially timely, as many local arts organizations recently lost state funding.

In 2019, the family started supporting Miami-Dade arts organizations through their CreARTE Grants Program. In partnership with the Miami Foundation, the CreaARTE program has granted over $10 million to expand arts access, education, fellowships and residences.

“Arts organizations are hurting this year,” Lipsey said. “I know many of the organizations that the Pérez family has supported over the years got the worst news of their year recently, so I’m excited that there’ll be some good news too.”

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