Samuel and Caryn Covelli bought a three-bedroom, five-bath condo at 1 N. Fort Lauderdale Beach Blvd. in Fort Lauderdale from CG Condo Investment LLC for $1.55 million on Oct. 7.
The 2,962-square-foot Unit #2005 is part of the Castillo Grand Residences development.
Mr. Covelli is the president and chief executive officer of Covelli Enterprises, which currently operates 132 Panera Bread locations in Florida, Ohio, Pennsylvania and West Virginia.
He is a graduate of the University of Miami.
According to BlockShopper.com, there have been 1,726 condo sales in Fort Lauderdale during the past 12 months, with a median sales price of $190,000.