Miami condo developer and film producer Valerio Morabito is eyeing Edgewater for building low-rise condominium properties on the waterfront — in contrast with the towering spectacles that have been cropping up.
His 10-story Miami Beach project Beach House 8 featured seven full-floor units and a penthouse. He told Daily Business Review he would like to build more in this vein, but with closer to 20 units apiece. Sales launched at 3651 Collins Avenue in September, as previously reported.
“It’s definitely sustainable as long as you build with quality and the right attention to detail and you do it in the right product,” Morabito said. “Right now it’s about finding the right location at the right price.”
He said he expects smaller ultra-luxury buildings would lure a different type of buyer to the neighborhood. [Daily Business Review] — Mark Maurer