Hedge fund executive Paul Wick and his wife Karin have purchased a penthouse at Vita at Grove Isle, a newly completed condominium project in Coconut Grove developed by Ugo Colombo’s CMC Group. The purchase price was $20.1 million.
According to property records, the Wick Family Trust acquired unit PH-L02 from an affiliate of CMC Group. Paul Wick serves as chief investment officer at Seligman Investments, which operates within 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 had the listing.
Veronica Cervera confirmed that this is one of 10 penthouse units sold in the development so far.
In recent years, Miami’s new development market has seen increasing demand for high-end penthouses, leading to rising prices. For example, a penthouse at Shore Club condominium in Miami Beach is under contract for $120 million. If finalized, it would set a record for condo sales in Miami-Dade County. Last month, Nadim Ashi’s Fort Partners sold a penthouse at Seaway at the Surf Club for $86 million, which currently holds the county’s price record.
While details on the Wicks’ specific unit have not yet been published in public records, information on Vita’s website describes it as spanning two stories and 6,700 square feet with four bedrooms, five bathrooms and one half-bathroom. The unit also includes a pool and outdoor kitchen.
Alexandra Goeseke commented on buyer preferences: “We wanted a house within a condo,” she said regarding the appeal of Vita’s penthouses.
Goeseke also noted that Grove Isle’s private island location offers enhanced security without requiring ferry access like Fisher Island.
Vita at Grove Isle was completed in December after a decade-long legal dispute over its site. Bank OZK provided $239 million in construction financing in 2024. The building is seven stories tall with 65 units; it was reportedly 85 percent presold upon completion and now has 10 units remaining for sale with prices ranging from $6.5 million up to $22 million per penthouse.
Vita was Coconut Grove’s only luxury condominium completed last year amid ongoing demand for upscale homes and consistent price increases in the area. Earlier this month, Shaklee CEO Roger Barnett and journalist Sloan Barnett sold their waterfront mansion nearby for $71.9 million.
