A local retail developer and his spouse paid more than $1.568 million earlier this month for a penthouse unit in Winter Park's "The Landmark" luxury condominium building, buying from the co-founder of one of Orlando's top multifamily developers.
Located in the 100 block of E. Morse Blvd. within a minute's walk of Park Avenue, the 2,143-square-foot unit built in 2008 features a full-length balcony and private rooftop terrace.
The buyers were Robert and Jennifer Gierke. Robert is a manager of Retail Development Properties LLC, and has developed a wide variety of retail projects across Greater Orlando.
The property sold for $731.72 per square foot, a value that is believed to be the highest in Winter Park over the past year for an existing residential sale, said Michael Gonick of Regal Real Estate Professionals, who represented the buyers.
"A key attraction in that particular building, The Landmark, was the fact that it was a top floor that is now a bit higher than any new building can be built in Winter Park," Gonick said. "And on top of that, they have deeded access to the roof."
The sellers were Gerald and Marilyn Ogier. Gerald co-founded local multifamily development firm ContraVest in 1986, and is now chairman emeritus for the firm that his sons Steven and Mark lead.
Gerald was also a partner in Heavener-Ogier, Inc., the master franchiser for ERA (Electronic Realty Associates) in the Southeast, and was a partner in multifamily developer and manager Epoch Properties. The Ogiers previously paid $1.574 million for the condo unit in March 2015.
The sale closed on May 5, and had yet to be recorded in Orange County as of Monday.
The Gierkes have owned a home in the 900 block of N. Park Avenue since 2003 with 1,568 square feet of conditioned area. The property is listed for sale with Gonick, but the couple may opt to retain it and rent, he said.