Sunbeam Properties, owned by the billionaire Ansin family who controls WSVN Channel 7, has purchased an older condo complex in North Bay Village with plans for demolition. The Treasure Island Cove Condominium, located at 1639 N. Treasure Drive, was sold for a combined total of $8 million by the individual owners of its 24 units, according to Sunbeam Properties CEO Andy Ansin.
Ansin confirmed that the decision to sell was unanimous among the condo owners, a condition he insisted upon before moving forward. “My policy is I’m not buying this condo unless 100% of the owners agree to sell,” Ansin stated. “I didn’t want to get into a situation where we had to evict someone.”
Details of the Transaction
The deal was facilitated by Beachfront Realty brokers Sam Heskiel and Marilina Apfelbaum, along with attorney Howard Friedberg of Katz Barron. The condominium, built in 1952, occupies a landlocked site of about three-quarters of an acre. According to the Miami-Dade County Property Appraiser, many of the units were previously valued in the mid-$100,000 range, but Sunbeam paid $333,333 per unit.