Daniel Chu, a former auto-lending executive accused of orchestrating a yearslong fraud scheme that allegedly contributed to the company’s $1.9 billion collapse, has found a buyer for his Miami Beach condo, landing a contract at $21.9 million.
Meanwhile, Danish tennis star Caroline Wozniacki and former NBA All-Star David Lee are also parting with their Miami Beach condo, finding a buyer for $18.9 million.
The contracts are two of 16 that buyers signed between Nov. 2 and Nov. 8, according to the weekly report by Douglas Elliman’s Eklund-Gomes team. The report tracks all listings in Miami-Dade asking $4 million and above.
The condos and single-family homes that went under contract last week spent an average of 143 days on the market. They had a combined asking price of $136.4 million, up from the previous week, which recorded 11 contracts totaling 86.4 million.
Of the deals marked pending, six were for condos. They spent an average of 208 days on the market and totaled $68.2 million in asking dollar volume. The average contract price was $11.4 million, or $3,335 per square foot.
Chu and his wife, Constance Chu, are the sellers of the most-expensive condo last week, a 5,730-square-foot unit in The Surf Club at 9001 Collins Avenue. It’s asking $3,820 per square foot. Unit S-201 has five bedrooms and six-and-a-half bathrooms. The corner residence also has a two-car garage and a 2,000-square-foot oceanfront terrace with a private pool.
Ximena Penuela of Fort Realty, LLC had the listing. Records show the Chus bought the property for $17.5 million in 2022.
Daniel Chu, founder and former CEO of Tricolor Holdings, was charged with defrauding multiple banks and other private credit providers last year, the U.S. Attorney’s Office reported in a release. Chu and David Goodgame, Tricolor’s former COO, were arrested in December. They were charged with bank fraud and wire fraud offenses in connection to the alleged scheme to double-pledge collateral to lenders, the release said. Two other company executives plead guilty to fraud charges in December and are cooperating with the government.
According to a complaint filed by the Securities Exchange Commission in August, Tricolor, which targeted Spanish-speaking immigrants with subprime auto loans, raised more than $1.9 billion through ABS offerings from at least 2020 through Tricolor’s bankruptcy in September last year, while allegedly misleading investors about its financial health.
The DOJ also claimed Chu used a portion of the funds to “enrich himself,” buying a “multimillion-dollar property” in Beverly Hills, The Real Deal previously reported.
The second most-expensive condo to go under contract was Wozniacki and Lee’s 4,760-square-foot unit in the Palazzo Della Luna Residences at 6800 Fisher Island Drive. It’s asking $18.9 million, or $3,975 per square foot. Unit 6843 has four bedrooms and four-and-a-half bathrooms. It’s fully furnished and includes 1,000 square feet of wraparound terraces, wine storage, a rotating bed and a private elevator entrance, according to the listing.
Dora Puig of Luxe Living Realty listed the unit. Wozniacki and Lee bought the condo for $14 million from GFL Environmental CEO Patrick Dovigi last year, according to Traded.
Wozniacki was ranked number one in women’s singles on the WTA Tour, holding the ranking for 67 weeks, according to WTA. She won the Australian Open in 2018 before retiring at 29 in 2020.
Lee spent 12 seasons in the NBA, playing for five teams over his 12-year career. They include the New York Knicks, Golden State Warriors, Boston Celtics, Dallas Mavericks and San Antonio Spurs. The power forward was selected as an NBA All-Star in 2010 and 2013.
Wozniacki and Lee got married in 2019. In 2024, the couple sold their Fisher Island penthouse for $37 million, three years after selling another unit in the same building for $16.3 million, TRD previously reported.
Buyers also signed 10 single-family home contracts last week. They had a combined asking price of $68.2 million and spent an average of 104 days on the market. The average contract price was $6.8 million, or $1,400 per square foot.
The priciest home to go under contract was a 7,960-square-foot property at 6580 Southwest 69th Avenue in Miami. It has an asking price of $13.8 million, or $1,730 per square foot. The 2024-built home sits on a 0.9-acre lot and has six bedrooms, seven bathrooms and two half-bathrooms, according to the listing. It also has a one-bedroom, one-bathroom guest house and an outdoor kitchen.
Angel Nicolas of Serhant had the listing. Records show the sellers are Jose Dans Jr., Heide K. Dans, Carolina Alexis Dans, Jake Alexander Dans and Nina Marie Dans. The property last sold for $7.3 million in 2024.
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