The Real Deal Miami

Surf Club Four Seasons tops off

Development has reached nearly $900M in sales

June 05, 2015 12:00PM
By Katherine Kallergis

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Surf Club rendering and Nadim Ashi

Surf Club Four Seasons rendering and Nadim Ashi

Developers of the Surf Club Four Seasons, a redeveloped landmark hotel and condo project in Surfside, is celebrating the topping off of the nine-acre waterfront property, The Real Deal has learned. 

The development includes an 80-room Four Seasons hotel, two 12-story residential towers, a private club, two restaurants, four swimming pools, cabanas, a gym, oceanside gardens and a park, according to a press release.

Nadim Ashi, founder and CEO of Miami-based Fort Capital Management is the developer behind the Richard Meier-designed condo-hotel, which is incorporating a historic Russell Pancoast-designed Surf Club, a private beach club founded in 1930 by Henry Firestone.

The 150 condos range from 1,400 square feet to nearly 8,000 square feet and from $3 million to $35 million. The 12 penthouses range from 5,400 square feet to 7,500 square feet, excluding outdoor space, and will include rooftop gardens, private swimming pools, outdoor living and dining rooms, summer kitchens and multilevel outdoor courtyards.

The development is 75 percent to 80 percent sold with nearly $900 million in sales, Ashi told TRD, and all nine of the rooftop penthouses sold, including one for $35 million. Ninety percent of buyers are domestic, he said.

“We’re happy where we are with sales,” Ashi said. “We’d like to keep at least 20 to 25 units available when we open.”

The residences at The Surf Club Four Seasons, at 9011 Collins Avenue in Miami Beach, is slated for completion during the second quarter of next year.

Ashi is also developing the new Four Seasons Hotel and Private Residences in Fort Lauderdale, Fort Capital announced in February. He said he’s looking into a development in Palm Beach.

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