Clothing magnate buys unit in Surfside condo for $11.4 million

A third unit at the ultraluxury Arte by Antonio Citterio condo building at 8955 Collins Avenue in Surfside has been placed under contract.

Gerard Guez, chairman and founder of the Los Angeles-based apparel company Sunrise Brands, and his wife, Jacqueline Rose, have contracted to pay $11,480,000 for a four-bedroom, four-bath unit on the sixth floor of the 12-story building. The unit is 4,232 square feet. The price breaks down to $2,713 per square foot.

The sale is expected to close in the second quarter of 2020.

Guez — whose company is comprised of premium denim labels such as Seven7Jeans, American Rag, and Eva Longoria — decided to buy the unit during his visit to Miami for Art Basel in 2019.

The building, which is the first U.S. project by the Italian architect/furniture designer Citterio, is comprised of 16 units. Three of the 13 unsold residences are currently on the market, with prices starting at $7.9 million. The remainder of the condos, including the marquee penthouse, will be available for sale soon.

The building was designed in collaboration with the Miami-based Kobi Karp Architecture and Interior Design firm.

Arte was developed by the Israel- and New York-based luxury real estate development firm SC 8955 LLC, a subsidiary of the publicly traded global firm Sapir Corp Ltd., which is based in Israel and specializes in New York City and Miami developments.

Sapir also owns a nineparcel assemblage at 210 NE 18th Street, located inside an Opportunity Zone in Edgewater.