Hedge fund executive Paul Wick and his wife Karin have purchased a penthouse at Vita at Grove Isle in Coconut Grove for $20.1 million. The transaction was made through the Wick Family Trust, acquiring unit PH-L02 from a company linked to developer Ugo Colombo’s 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 buyers were represented by Danny Hertzberg and Nathan Zeder of the Jills Zeder Group at Coldwell Banker Realty, while Alexandra Goeseke of Cervera Real Estate held the listing. Veronica Cervera noted that this sale marks one of ten penthouses sold in the project so far.
Miami’s new development market has seen rising demand for high-end penthouses, with prices reaching record levels. For example, a penthouse at the under-construction Shore Club condominium in Miami Beach is under contract for $120 million, or $11,000 per square foot. If finalized, it will set a new price record for condos in Miami-Dade County. Last month, Nadim Ashi’s Fort Partners sold a penthouse at Seaway at the Surf Club for $86 million, currently holding the price record.
While details on the Wicks’ specific unit are not yet available in public records, Vita’s website indicates that similar penthouses span two stories and 6,700 square feet with four bedrooms, five bathrooms, and one half-bathroom. Amenities include a private 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. She also highlighted Grove Isle’s private island status as an added security feature without requiring ferry access like Fisher Island.
The seven-story, 65-unit Vita was completed by Colombo’s CMC Group in December after resolving legal challenges related to the site over the past decade. In 2024, Bank OZK provided a $239 million construction loan to support development. Upon completion, 85 percent of units had been presold with ten remaining available; prices range from $6.5 million to $22 million for penthouses.
Vita was Coconut Grove’s only luxury condominium delivered last year amid ongoing demand for upscale homes and stable 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.
