Home News Hair Removal Mogul Looks to Break Miami’s Condo Record with $85 Million Listing

Hair Removal Mogul Looks to Break Miami’s Condo Record with $85 Million Listing

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A condominium unit at the Estate at Acqualina, a $1.8 billion oceanfront project in Sunny Isles Beach, Florida, is on the market for $85 million. If it sold for anywhere near that amount, records would make it the most expensive condo sale ever recorded in the Miami area.

Sold by Joshua Koba, one of the founders of the hair removal chain European Wax Center, and his wife, Jenny Koba. Cobas said he signed a deal to purchase the unit in 2018, but has yet to close. They said they are now trying to reassign the contract.

Affectionately known as Casa di Coba, the couple’s custom-designed unit has 7 bedrooms and 9.5 bathrooms. This is on his second floor in one of his two towers on the project, a rarity in Miami where the most expensive condos are usually located at the top of skyscrapers with the best ocean views. is. Rather, the roughly 12,000-square-foot unit was a compromise between Mr. Koba, who preferred to live in a condo, and his wife, who wanted a single-family home, the couple shares four children. Yes.Under 6 years old. “I don’t want to talk to the doorman,” Koba said.

The 3-story unit has a private backyard and outdoor pool. It also comes with his adjacent 3,100-square-foot guest apartment and oceanfront cabana. With its own entrance, garage, and elevator, “our property was the perfect compromise because you don’t have to enter the lobby,” he says. “I don’t need to meet anyone.”

Still, the unit has access to Aquarena amenities such as restaurants, ice skating, bowling, a 30-seat theater, Formula 1 simulator, and a Rolls-Royce for residents.

Working with the California-based designer, Cobas said he spent years choosing all the finishes and furnishings. Much of it was custom-made for the apartment: They spent about $6 million on furniture, Koba said, and 3D Lalique on the walls of the master bedroom suite. It pointed out. Furniture is included in the asking price.

The unit has a dining room, study, office and several large family rooms with fireplaces. Construction of the unit is expected to be completed by June, Covas said.

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“I think one of the biggest selling points will be my closet,” Koba said. “Not only was it convenient and sensible, but it allowed me to display my stuff and enjoy looking at it. As a mother, my closet is one of the few places I can be alone with her .”

The Covass had planned to move to Acqualina from their home in nearby Aventura, but the pandemic derailed their plans. When Covid delayed construction of his Acqualina by about a year, they rented his pandemic “staycation” home on Miami’s Fisher Island in early 2021 and fell in love with the area, they said. rice field. They sell their house in Aventura and decide to stay on Fisher Island.

The property has an ocean view.

Wimberly Interiors/Koba Collection (rendering)

“Our family is very calm and comfortable here,” Koba said. “Our kids have made friends here at school, so we really don’t want to move them.”

Acqualina, developed by Trump Group’s Jules and Eddie Trump (no relation to developer Donald Trump), has sold out, according to Trump Group’s president of sales and marketing, Michael Goldstein. Covas declined to comment on how much it agreed to pay for its units in 2018, but Goldstein said the market has risen significantly since then. He pointed out that none of the other apartments in the project came close to the size of this one and were finished to the same level.

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However, Covas is not the only buyer considering contract reassignment. Another couple who bought a penthouse in a project are looking to reassign it for $45 million after deciding they didn’t want to pull their kids out of school in New York.

Coba said he retired from his role at the European Wax Center for about five years. Most recently, he said, he and his wife secured a minority stake in his fitness franchise Ohm.

Record $60 million price for Miami condoswas paid by billionaire hedge fund manager Ken Griffin at Faena House in 2015, Goldstein said.

According to Douglas Elliman’s report, the number of condominium sales in the Sunny Isles area in the third quarter fell 45.6% from the same period last year, but the median sales price rose 3.1%.

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