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Seller Keith Kosow “never thought it would be worth this much”
The founder of a healthcare and technology investment firm has sold his renovated Continuum South Beach condo for $10.3 million, according to The Real Deal.
Keith Kosow sold unit 1206 in Continuum’s south tower at 100 South Pointe Drive. The deed has not yet been registered and the buyer is unknown.
Bill Hernandez and Bryan Sereny of Douglas Elliman represented the seller and Matthew Wilkens of One Sotheby’s International Realty brought the buyer. Wilkens declined to comment on the deal.
Kosow is the founder and chief investment officer of Cedar Holdings, a New York-based investment firm focused on the healthcare and technology industries. He founded the firm in 2005 and now manages $750 million in investable assets, according to its website.
Kosow bought the Continuum condo for $5.8 million in 2021, records show. The three-bedroom, three-and-a-half-bath condo spans 2,500 square feet, according to property records. Kosow said he spent $1.2 million to complete the gut renovation of the facility. It commissioned Medley-based Westhaven Construction Services, led by CEO Joel Alonso, to lead construction. Miami-based interior design firm IG Workshop collaborated with Kosow’s mother, interior designer Nannette Lewis, on the design.
Kosow, who has lived in the 318-unit Continuum as a renter for 15 years, said he planned to put down roots when he bought unit 1206. “I bought it as a long-term residence,” he said, “I never expected it to be worth this much.”
South Florida’s luxury market caught fire early in the pandemic and sustained significant price growth for two years. Kosow says the time was right to sell and is now looking to wait out the market with a rental unit at Continuum.
“It’s a 25-year-old building. There’s a lot of new product coming on line,” he said, referring to the pipeline of luxury apartment towers located in Miami-Dade. “Where would you rather be?”
New York-based developer Ian Bruce Eichner developed Continuum’s 42-story south tower in 2002 and the 37-story north tower in 2008. Eichner sold his Continuum penthouse for $35 million in 2021, more than two years after the listing of for $48 million.
The complex remains a magnet for high-profile buyers. In March, Related Group CEO Steve Patterson bought a flipped unit in the 42-story south tower for $10 million.
In April, Robert Rivani’s Black Lion bought a building next to Continuum from one of Eichner’s affiliates for $11.5 million, with plans to lease the space to a new restaurant.
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