Marc Bell Sells Setai Condo Unit for $12 Million

Marc Bell sold his condo on the 35^th floor of the Setai building in South Beach for $12 million.

Up All Night South Beach, the company managed by Bell, sold his three bedroom, three bathroom condo unit on May 20. The company purchased the condo back in October 2012 for around $7.3 million. The luxury unit was previously listed for $15 million.

The buyer is Setai 3509 LLC, managed by Nafia Ergun Sefada. The company obtained a $5.5 million mortgage from BAC Florida Bank to purchase the 2,521-square-foot condo.

Eloy Carmenate, One Sotheby’s International Realty broker, and Jeffrey Miller, from Zilbert International Realty, arranged the sale.

Bell is a financier from Boca Raton, and is best known as the former CEO of FriendFinders Networks, owned by Penthouse. Bell is also a two-time Tony Award-winning producer.

Source: therealdeal.com

Photo credit: Marc Bell - nypost.com, View - setaicondorentals.com,  Building - wikipedia.org