The Real Deal Miami

Château buys Collins Avenue apartments in Surfside

Firm is developing Fendi Château Residences across the street

July 22, 2015 12:45PM
By Katherine Kallergis

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Map of Château Group's Surfside properties

Map of Château Group’s Surfside properties.

The Château Group has added to its Surfside holdings with the $5.15 million purchase of an apartment building on Collins Avenue, Miami-Dade County records show. 

Hialeah-based Grand Futura Properties sold the 15,000-square-foot property at 9316 Collins Avenue in Surfside to an LLC tied to Château Group principal Manuel Grosskopf.

Château is developing Fendi Château Residences across the street at 9380 Collins Avenue and owns about half of the block across the street. The two-story, 17-unit building last sold in 1995 for $524,900. It was built in 1949 and sits on the west side of Collins, according to Miami-Dade property records.

Château affiliates already own the following properties, which total 50,650 square feet or 1.16 acres:

  • 9340 Collins Avenue, for $1.9 million in December 2013
  • 9348, 9364, 9372 and 9380 Collins Avenue, for $6.38 million in March

Two parcels remain on the eastern side of the block, which is nonwaterfront: 9300 and 9332 Collins Avenue.

Nearby developments in Surfside include Biltmore Terrace, at 8701 Collins Avenue; and the Surf Club Four Seasons Hotel & Private Residences at 9011 Collins Avenue, which was designed by Richard Meier and is currently under construction.

In March, Château unloaded a two-acre development site in Aventura for $21.6 million. The developer originally purchased the site in October 2010 — near the bottom of the last real estate cycle — for $3.6 million, according to government records.

Grosskopf is also part of a joint venture that owns down-zoned land in Hollywood Beach. The partnership, which had plans for a 15-story condo tower, is seeking up to $36 million in damages from the city of Hollywood in a jury trial scheduled to start Aug. 6.