Uruguayan Billionaires Buy South Florida Luxury Condo

uruguay PH 705x439
uruguay PH 705x439

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DLocal founders Sergio Fogel and Andres Bzurovski with the Porsche Design Tower penthouse (DLocal)

DLocal founders Sergio Fogel and Andres Bzurovski with the Porsche Design Tower penthouse (DLocal)

Uruguay’s first billionaires, who founded a payments startup, shelled out $16.6 million for a luxury condo in Sunny Isles Beach, The Real Deal has learned.

DLocal founders Andres Bzurovski and Sergio Fogel purchased a lower penthouse at Porsche Design Tower, according to sources. Property records show SBH Collins Ave LLC, a Colorado entity, sold unit 5205.

DLocal, a financial technology company based in Montevideo, went public last month, reaching a $9 billion valuation, according to Reuters. That made billionaires out of Bzurovski and Fogel, marking a first for Uruguay.

Their penthouse purchase marks a resale record for Porsche Design Tower on a total price and a per-square-foot basis of $2,711 a foot, according to Compass.

The five-bedroom, 6,121-square-foot unit previously sold for $10 million in 2019. It hit the market in July for $17.5 million with Alex Miranda and Joe Padula’s team at Compass. Dezer Development’s Sebastian Tettamanti represented the buyer.

Miranda, who declined to comment on the buyer’s identity, said the deal shows how the Sunny Isles condo market has “matured.”

“It’s not the norm in Sunny Isles to get almost $3,000 per square foot,” he said, pointing to recent deals that include the $27 million sale of a penthouse at Mansions at Acqualina, also in Sunny Isles. It sold for $2,966 per square foot.

Dezer Development completed the Porsche-branded tower in 2016. The 60-story oceanfront building at 18555 Collins Avenue has been home to soccer superstar Lionel Messi, Puerto Rican rapper and singer Anuel AA, Mexican billionaire Carlos Peralta Quintero and a number of other celebrities.

The tower’s amenities include “The Dezervator,” a car elevator that allows cars to be brought to a unit owner’s residence.

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