Howard Schultz, the former chief executive officer of Starbucks, purchased a penthouse at the Four Seasons Residences at the Surf Club in Surfside for $44 million, according to a March 11 report. Schultz announced on LinkedIn that he and his wife, Sheri Kersch Schultz, have moved from Seattle to Miami for what he described as their “next adventure together.” The Wall Street Journal was the first to report on the transaction.
The couple acquired penthouse 6 in the north tower of the luxury condominium and hotel development located at 9111 Collins Avenue. The residence spans 5,500 square feet with four bedrooms and seven bathrooms. It also features a rooftop terrace measuring approximately 4,100 square feet. The property was listed by Ximena Penuela’s Fort Realty, which serves as the developer’s in-house sales firm. Liz Hogan of Compass represented Schultz in the purchase, according to information available on Zillow.
Stockbridge Holdings, based in Fort Lauderdale, sold the unit after having bought it for $18 million in 2018, property records show.
The Surf Club has become known for attracting high-profile buyers including celebrities and business leaders. Last year, Daniel Nadler, founder of an artificial intelligence platform, paid $38.2 million for another penthouse at the development.
South Florida has seen a wave of billionaire home purchases recently. Some buyers are reportedly motivated by proposed wealth taxes in California. Google co-founder Larry Page spent $188 million acquiring three homes in Coconut Grove between December and January. In March, Sergey Brin—also a Google co-founder—purchased LVMH CEO Michael Burke’s waterfront Allison Island home for $51 million.
Earlier this month, Facebook founder Mark Zuckerberg and his wife Priscilla Chan closed on an under-construction estate on Indian Creek for $170 million. That sale is now considered the most expensive residential transaction ever recorded in Miami-Dade County.
