The Real Deal Miami

Marina Palms tops off first tower in North Miami Beach

Prices for units start in the low $800K's

January 30, 2015 11:15AM
By Kristina Puga and Katherine Kallergis

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Marina Palms and Neil Fairman

Marina Palms Yacht Club & Residences first tower and Plaza Group president Neil Fairman

Marina Palms Yacht Club & Residences in North Miami Beach celebrated the topping off of the first of its two luxury condominium towers Friday.

Marina Palms will be the first luxury condo development with a yacht club and marina in Miami-Dade County in more than two decades.

North Miami Beach Mayor George Vallejo attended the topping off ceremony on Friday and called the project a “catalyst of the renaissance of North Miami Beach.”

“This really is sending the message that the city is open for business and ready for positive development,” Vallejo told The Real Deal. “If you drive up and down our streets, we’re in need of some good, modern development.”

Owners will begin moving in this summer, when the first waterfront building on 172nd Street and Biscayne Boulevard is scheduled to be completed. Prices for units start in the low $800,000’s.

“We’re right on schedule with what is a significant accomplishment for the development, the community and especially our buyers,” Neil Fairman, president of the Plaza Group, which is co-developing the project with the DevStar Group, said in a statement.

Marina Palms Yacht Club & Residences will have two 25-story towers and a combined 468 units. Both towers will include two-, three- and four-bedroom residences and penthouses, featuring butler service, an infinity-edge pool and hot tub, a gym, spa, news café, children’s playroom and teen lounge. Other amenities include gated-access with 24-7 valet service.

The yacht club and marina are still under construction. Once completed this summer, the marina will offer 112 boat slips for yachts up to 90 feet.

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