The asset involved in this transaction is a condo located at 9011 Collins Avenue Unit N-PH6 in Surfside, Florida. The property encompasses 5,500 square feet and was sold for $44,000,000, equating to a price per square foot of $8,000. The condo features five bedrooms and includes amenities such as a central courtyard, rooftop terrace, private garage parking, and an oceanfront cabana.

Summary of transaction details:

• Property Type: Condo
• Transaction Amount: $44,000,000
• Address: 9011 Collins Avenue Unit N-PH6
• Market: Surfside
• Square Footage: 5,500
• Price Per Square Foot: $8,000
• Buyer: Sheri Schultz; Howard Schultz - Starbucks
• Seller: Stockbridge Holdings
• Seller's Representative: Ximena Penuela - Fort Realty
• Buyer's Representative: Liz Hogan - Compass

In this transaction, Howard Schultz and Sheri Schultz acquired the property while relocating to Miami. The seller, Stockbridge Holdings, had purchased the condo for $18 million in 2018 and had originally listed it for $55 million in November 2024 before reducing the asking price. The deal reflects a significant change in ownership between individuals familiar with high-value real estate transactions.