NY Developer Cohen Purchases $20.5M Surf Club Condo
New York real estate developer Richard Cohen acquired a four-bedroom unit at Four Seasons Residences at the Surf Club for $20.5 million. The purchase continues the trend of wealthy individuals relocating to South Florida.
New York real estate developer Richard Cohen has acquired a luxury condominium at the Four Seasons Residences at the Surf Club for $20.5 million, marking his relocation to South Florida as his primary residence.
Cohen purchased unit 207 in the south tower of the oceanfront development located at 9001 Collins Avenue. The four-bedroom, four-bathroom residence spans 4,600 square feet and was designed by Deborah Wecselman. The unit features a travertine wine cellar, Boffi kitchen, and custom millwork throughout.
The transaction closed at $4,420 per square foot after the property was initially listed at $22.8 million in November before being reduced to just under $22 million in February. Luxe Living Realty's Dora Puig represented Cohen in the purchase, while Mick Duchon of the Corcoran Group and Douglas Elliman's Dustin Nero handled the seller's interests.
Cohen, who has developed real estate projects in New York and Boston, was previously married to television newscaster Paula Zahn. He is reportedly engaged to political activist and fundraiser Patricia Duff.
Mansfield, Bronstein & Stone, the law firm representing Cohen in the transaction, characterized his move as part of a significant migration of wealth to South Florida. Managing partner Ronnie Bronstein noted that the Surf Club maintains its status as one of the world's most sought-after addresses.
The Surf Club development has attracted numerous high-profile buyers in recent transactions. Starbucks billionaire Howard Schultz previously purchased a penthouse in the north tower for $44 million, paying $8,000 per square foot after announcing his relocation from Seattle. AI platform founder Daniel Nadler also acquired a fully furnished penthouse for $38.2 million last year.
Real estate professionals attribute the continued influx of wealthy buyers to South Florida to several factors, including California's proposed wealth tax and New York's potential pied-a-terre tax. These policy considerations have accelerated relocations among high-net-worth individuals seeking more favorable tax environments.
The Four Seasons Residences at the Surf Club represents one of South Florida's premier luxury developments, combining oceanfront living with five-star hotel amenities and services.
