Supermax founder Stanley Thai buys luxury US condominium

KUALA LUMPUR (Feb 23): Rubber glove manufacturer Supermax Corp Bhd founder Datuk Seri Stanley Thai Kim Sim and his wife Datin Seri Cheryl Tan Bee Geok has acquired a 3,438-square-foot luxury condominium in Sunny Isles Beach within the US state of Florida, The Real Deal reported, citing property records.

The Real Deal reported on Feb 16, 2021 that Thai and Tan acquired the condominium known as unit 4800 at the Residences by Armani/Casa, a 56-storey, 308-unit tower at 18975 Collins Avenue. It was reported that the project, which was completed in late 2019, is a joint venture between Related Group and Dezer Development.

The condominium was designed by César Pelli, the internationally known architect who created the Adrienne Arsht Center for the Performing Arts in Miami. It was the last project he designed before his death in July, 2019.

The Argentine-American architect is also the architect behind Petronas Twin Towers, one of the tallest buildings in the world.

Residences by Armani/Casa units range in size from 1,350 sq ft to 4,700 sq ft. In 2019, the condominium units were priced from US$1.6 million (RM6.5 million) to more than US$17 million for the Giorgio Armani-furnished penthouse. 

However, the report did not specify how much money Thai and Tan paid for the condominium.

"The owners of one of the world’s largest producers of rubber gloves, who became billionaires during the pandemic, acquired a luxury condo in Sunny Isles Beach.

"The joint venture between Related Group and Dezer Development sold unit 4800 at the Residences by Armani/Casa to Kim S. Thai and Bee G. Tan, property records show. Stanley Thai Kim Sim and Cheryl Tan Bee Geok founded Supermax Corp, a latex glove company based in Malaysia.

"MV Group USA, led by Manny Varas, built out the 3,438-square-foot unit, which has interiors designed by Giorgio Armani. It has four bedrooms, five bathrooms and one half-bath, according to property records,” The Real Deal reported.

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