Hedge fund manager Paul Wick and his wife Karin have purchased a penthouse at Vita at Grove Isle in Coconut Grove for $20.1 million. The purchase was made through the Wick Family Trust, acquiring unit PH-L02 from an affiliate of developer Ugo Colombo’s CMC Group.
Paul Wick serves as chief investment officer at Seligman Investments, a tech-focused fund under Columbia Threadneedle Investments. Karin Wick is an attorney based in San Diego.
The transaction was brokered by Danny Hertzberg and Nathan Zeder of the Jills Zeder Group at Coldwell Banker Realty, who represented the buyers. Alexandra Goeseke with Cervera Real Estate held the listing.
According to Veronica Cervera, this sale marks one of ten penthouse units sold in the project so far. Miami’s luxury condo market has seen rising demand and prices for penthouses in recent years. If completed as planned, a penthouse at Shore Club condominium in Miami Beach is set to close for $120 million, which would establish a new price record for condos in Miami-Dade County. Last month, Nadim Ashi’s Fort Partners sold a penthouse at Seaway at the Surf Club for $86 million, currently holding the record.
While specific details on the Wicks’ new property are not yet available in public records, Vita’s website describes it as a two-story residence spanning 6,700 square feet with four bedrooms, five bathrooms, and one half-bathroom. The unit also features a pool and outdoor kitchen.
Alexandra Goeseke commented on buyer preferences: “We wanted a house within a condo,” she said regarding Vita’s penthouses. She also noted that Grove Isle’s private island location offers enhanced security without requiring ferry access like Fisher Island.
CMC Group finished construction of Vita—a seven-story building with 65 units—in December after resolving legal disputes over the site that lasted about ten years. Bank OZK provided $239 million in construction financing last year. The development was reportedly 85 percent presold upon completion, leaving ten units available with prices ranging from $6.5 million to $22 million per penthouse.
Vita was the only luxury condominium completed in Coconut Grove last year amid strong demand and steady price growth for high-end homes in the area. Earlier this month, Shaklee CEO Roger Barnett and journalist Sloan Barnett sold their waterfront mansion nearby for $71.9 million.
