Three luxury condo deals totaling $52.5 million closed Monday, Aug. 10, along the Collins Avenue corridor in Surfside and Miami Beach, underscoring continued demand at the ultra-high end even as new federal mortgage rules squeeze financing for the broader condo market.

The biggest residential sale: a 4,000-square-foot unit at the Four Seasons Residences at the Surf Club, 9001 Collins Ave. in Surfside, which traded for $19 million, or $4,800 per square foot. An LLC managed by William Papariella and accountant Michael Deo purchased unit 307 in the south tower from a trust tied to Richard Gold, according to The Real Deal. The trust paid $10.4 million for the four-bedroom unit in 2021, netting an $8.6 million gain in five years.

Papariella is the founder and CEO of BOND Aviation Holdings, a fractional private jet company backed by a $350 million investment from KKR. He previously co-founded Jet Edge International and sold it to Vista Global in 2021.

Also on Aug. 10, an affiliate of Fort Partners transferred four commercial condos at the Seaway at the Surf Club, 9149 Collins Ave. in Surfside, to another Fort Partners entity for $20 million. The four units span a combined 13,400 square feet. The transfer appears to be an internal corporate restructuring rather than a third-party sale.

Fort Partners, led by Nadim Ashi, developed both the 34-unit Seaway complex, completed in late 2024, and the adjacent Four Seasons Surf Club, which opened in 2017.

The Surf Club campus keeps commanding record prices. A buyer paid $86 million for a Seaway South penthouse in November 2025, the most expensive condo ever sold in Miami-Dade County at the time. As of March 2025, 23 of the Seaway's 34 units had sold for a combined $293.5 million.

In Miami Beach, a trust tied to William Joseph Johnson paid $13.5 million for unit 1501 at The Edition, 2901 Collins Ave. The 3,800-square-foot, four-bedroom condo had been listed at $14.5 million. It sold $1 million below ask. Jeffrey Miller with One Sotheby's International Realty held the listing; Daniel Tzinker with The Agency represented the buyer.

The Edition Residences is a 26-unit oceanfront building developed by Ian Schrager in partnership with Marriott International and delivered in 2014. Resale inventory has traded in the $7 million to $14.5 million range in 2026.

All three deals closed less than a week after Fannie Mae and Freddie Mac's tightened condo financing rules took effect Aug. 4-5. The federal agencies retired their limited and streamlined review processes, now requiring full financial scrutiny of condo associations for conventional mortgages. Robert Smith, a regional president at FirstService Residential, told The Real Deal on Aug. 9 that "buyers now need to evaluate the financial health of the condominium association just as carefully as they evaluate the home itself."

Those rules matter most for mortgage-dependent buyers in older buildings. At properties like the Surf Club and the Edition, where deals routinely close in cash at $3,600 to $4,800 per square foot, the new requirements are unlikely to slow activity.