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The Real Deal Miami

Private equity firm resumes plans for Ocean Drive condominium project

July 06, 2012 09:45AM

Ocean Drive in South Beach

A new 18-story condominium tower could soon rise in Miami Beach’s South of Fifth neighborhood, according to a report from Condo Vultures. The 120 Ocean Drive project, which was previously called the Kallisto, is a planned 10-unit tower just north of famed eatery Prime One Twelve and the nearby Prime Hotel. The Boston-based developer paid $8 million for the site in 2005. — Alexander Britell