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Boca penthouse sells for $8.7M

Boca penthouse sells for $8.7M
Seller also owns portfolio of Broward hotels
September 21, 2015 09:45AMBy Sean Stewart-Muniz

Unit 704 and 1000 South Ocean Boulevard in Boca Raton

A penthouse at the One Thousand Ocean condo tower in Boca Raton was just sold for $8.7 million — exactly the same price it last sold for in 2013, Miami-Dade County records show. 
The condo is a three-bedroom, three-bathroom unit on the northeast corner of the building at 1000 South Ocean Boulevard. It boasts views of the Atlantic Ocean through floor-to-ceiling windows and has a decadent style, with gold-colored furniture, white tile floors and an ornately designed ceiling. A listing for the unit said it’s never been occupied.
The previous owner is a company named PH 704 One Thousand LLC, managed by Ukrainian investor Zoran Zelenikovsk. He paid $8.7 million to acquire the unit from the developer in 2013.
Zelenikovsk brought on a contractor for a complete build out of the unit two months after his purchase, indicating that the penthouse was still raw when he bought it, according to Miami-Dade property records.
In a deed recorded Thursday, Zelenikovsk sold unit 704 to another company titled Zorna Investments LLC, managed by local lawyer and Realtor Tim A. Shane. The recorded price was $8.7 million.
Shane was also listed as a registered agent for Zelenikovk’s company that first purchased the unit.
MLS data shows that the unit was last listed in November for $11.5 million. The price was later chopped to $9.95 million before closing in September.
Zelenikovsk is also a managing member of Florida Development Group, which is based in Boca Raton. The company has purchased nine mid-century hotels in Lauderdale-by-the-Sea during the last two years for tens of millions of dollars.

Source: The Real Deal

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