April 2, 2018
Pfizer CEO Ian C. Read was behind the $13 million acquisition of a “sky villa” condo in the Jade Signature in Sunny Isles Beach, according to recently obtained records.
Read adds to the list of corporate titans with homes in South Florida. He’s been CEO of Pfizer (NYSE: PFE), one of the world’s largest pharmaceutical firms, since 2010. He pulled down $27.9 million in compensation in 2017 — so a $13 million condo wasn’t even half of that.
As previously reported, Sunny Isles Beach Associates, an affiliate of Miami-based developer Fortune International Group, sold Unit 5101 in the condo at 16901 Collins Ave. to IJ LLC, a Delaware-registered company with an address listed at 296 Stanwich Road in Greenwich, Connecticut. According to an official with the Town of Greenwich, that home is owned by 296 Stanwich Road LLC. Connecticut state records identify Read as the managing member of this LLC.
The two-story condo has 6,735 square feet of interior space and 1,161 square feet of outdoor living space. The sky villa features five bedrooms, six bathrooms, two half-bathrooms, a double-sized dining room, a gym and an entertainment lounge. It has a 22-foot ceiling height and a 180-degree view of the ocean.
Read isn’t the only high-profile corporate executive to buy in Jade Signature. Former Chubb Corp. Chairman recently paid $7.8 million for a condo there.