Mexican Billionaire-Linked Buyers Snap Up Two Seaway at the Surf Club Penthouses for $68.7M

Seaway at the Surf Club penthouse sales continue to redefine Surfside’s luxury market, with two top-floor residences closing for a combined $68.7 million, signaling sustained demand for elite oceanfront living.

Two penthouses at the new Seaway at the Surf Club in Surfside have sold to related entities linked to a Mexican billionaire, reinforcing the building’s status as one of South Florida’s most exclusive residential addresses.

First, SCR Residences LLC, an affiliate of Fort Partners, sold Unit PH 10A at 9149 Collins Avenue for $54.88 million. The residence spans 12,716 square feet, resulting in pricing of $4,315 per square foot.

To complete the purchase, the buyer secured a $30.5 million, 30-year mortgage from Morgan Stanley Private Bank, designating the condo as a second home. This financing structure is increasingly common among ultra-high-net-worth buyers in Miami’s coastal submarkets.

At the same time, SCR Residences sold Unit PH 10B, a 3,627-square-foot penthouse, for $13.82 million. The buyer financed the acquisition with a $9.5 million mortgage, also provided by Morgan Stanley Private Bank. Pricing for the smaller unit came in at $3,763 per square foot.

State records list Pablo Legorreta and his wife, Almudena Logorreta, as managing members of both purchasing entities. Legorreta is the founder and CEO of Royalty Pharma, a global leader in royalty funding for life-science innovation.

The Seaway features 34 luxury residences and a rooftop pool. Importantly, the building is serviced by staff from the neighboring Four Seasons Residences at the Surf Club, giving owners access to the Surf Club’s renowned amenities.

Momentum remains strong. In November, another Seaway penthouse sold for $86 million, setting a Miami-Dade County condo sales record.

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