Pharmaceuticals heir Alberto Saba buys condo in Sunny Isles
Alberto Saba, son of late Mexican pharmaceutical magnate Isaac Saba Raffoul, bought a condo at Estates at Acqualina in Sunny Isles Beach for $10.1 million.
Records show that Bella Mare 1901 LLC, a Florida entity registered with Saba, purchased unit TS1204 at Estates at Acqualina’s south tower, 17909 Collins Avenue, from the developer. The $1.8 billion project is the Trump Group’s third Sunny Isles Beach development (unrelated to former President Donald Trump).
Saba and his brother, Manuel Saba, inherited their father’s business, Grupo Casa Saba, when the CEO died in 2008. Grupo Casa Saba distributes pharmaceutical, health and beauty products.
Saba’s entity sold a condo in Bella Maré on Aventura’s Williams Island for $3.2 million in July, which it had owned since 2005, records show. This project was also developed by the Trump group.
Acqualina’s twin-tower Estates project includes the 49-story, 154-unit South Tower, which was made this summer, and a 50-story north tower that remains under construction. Condos in the development range from $4.2 million to $35 million and from three to seven bedrooms.
Estates at Acqualina will also include a 45,000 square foot amenity villa with an ice rink, bowling alley, Formula 1 simulator and movie theater. The favorite restaurant of celebrities Avra will also open Avra Miami Estiatorio in the project, and the halls of both buildings were designed by Karl Lagerfeld.
The development has been embroiled in litigation, with developer and builder, Boston-based Suffolk, suing each other over alleged construction delays and unpaid labor allegations. The two sides settled the lawsuits in the spring, but Suffolk reopened its 15 million dollar suit against the Trump Group last week, reaffirming its claims of unpaid work.
Even with the legal disputes, Estates at Acqualina condo sales have attracted some big names. LeBron James bought a unit in the South Tower for $9 million in October. Chuck Khubani, a retailer of “As Seen On TV” products, has purchased two condos in the South Tower in recent months, totaling $12 million.