Founder of controversial multilevel marketing firm sells Palm Island home

Founder of controversial multilevel marketing firm sells Palm Island home

Published: May 01, 2019

By: Keith Larsen

Alinda Partners founder bought the waterfront Miami Beach house



By
Keith Larsen | April 29, 2019 12:30PM
Nick Sarnicola and 223 North Coconut Lane (Credit: Zillow and Twitter)

Nick Sarnicola and 223 North Coconut Lane (Credit: Zillow and Twitter)

The co-founder of a controversial multilevel marketing firm sold his house on Miami Beach’s Palm Island for $6.3 million.

Nick Sarnicola, the founder and CEO of ViSalus, and his ex-wife Ashley sold their 4,952-square-foot house at 223 North Coconut Lane to Christopher W. Beale, the founder of Alinda Partners, a Connecticut-based infrastructure investment firm, property records show. The five-bedroom, four-and-half bathroom home sold for nearly $1,300 per square foot.

The property was designed to resemble a luxury yacht and has 20-foot windows spanning the entire width of the home, according to Realtor.com. It also has 53 feet of water frontage, polished volcanic stone floors, and a 1,500-square-foot rooftop deck with a pool. The home was built in 2010. It was previously listed for $9.6 million in 2015.

The seller was represented by Danny Hertzberg of Coldwell Banker’s The Jills Zeder Group. Bryan Halda with Gray & Associates Prop. represented the buyer. Halda said the estate will be a secondary residence for the buyer.

Sarnicola started Los Angeles-based ViSalus in 2005, selling nutritional products, dietary supplements and energy drinks in the United States, Canada and the United Kingdom. The company has been accused of operating as a pyramid scheme. This year, an Oregon federal jury found that ViSalus, now known as Vi, made almost 2 million unsolicited telemarketing calls to consumers to sell weight-loss products.

A number of celebrities own homes in Palm Island. In August, reggaeton star Nicky Jam paid $3.4 million for a five-bedroom, 3,617-square-foot home at 240 Palm Island Drive. Bryan “Birdman” Williams‘ waterfront Palm Island home at 70 Palm Avenue was re-listed last year for $15.5 million.

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