O Residences prepares Bay Harbor site for waterfront condo project

36 of 41 units have contracts, deposits

TRD MIAMI /
Jan.January 27, 2015 02:15 PM

S2 Development and its joint venture partners BH-LK Investment Group said Tuesday they have begun demolition for their 41-unit waterfront condo project in Bay Harbor.

Aventura-based S2 developers Claudio Stivelman and Marc Schmulian told The Real Deal that they have contracts and deposits on 36 of O Residences’ 41 units. Prices are about $700 per square foot, or $700,000 to $1.2 million for the 1,060- to 1,450-square-foot units, said Stivelman, S2’s CEO. Two 2,282-square-foot penthouses, with three bedrooms and a den, are also offered for $1.58 million each. Groundbreaking is expected soon.

“Bay Harbor is a forgotten jewel,” Stivelman said. “We think Bay Harbor, by itself, is an amazing place, with an amazing waterfront and quality of life.”

In designing O Residences, at 9821 East Bay Harbor Drive, the developers said they aimed to highlight the water aspect, with each unit offering water views. Amenities include a zero-edge pool, bay front water deck, hot tubs throughout the property, cabanas and water sports such as kayaking, paddle boarding and canoes. O Residences will also have a waterfront, trellised summer kitchen with a gas grill.

In addition, the development, designed by construction architect Charles Benson and design architects Frankel Benayoun, will offer a natural eco-atrium with a green hanging garden trellis system to blend the outdoor elements with luxury living, the developers said.

Yet another feature: O Residences will have a partnership with Carefree Boat Club that will enable unit buyers to have access to a range of boats. Through an online system, residents will be able to book and pay for boats to be delivered at their dock, so they can enjoy boating without the maintenance and upkeep of owning a yacht, the developers said.

“We want to create a project that provides an upscale lifestyle,” said Schmulian, S2’s president, “but at an affordable price.”


Related Articles

arrow_forward_ios
Jeff Burns, Nick Rojo, The Bohemian Lake Worth

Affiliated Development’s Lake Worth Beach apartment project approved

Affiliated Development’s Lake Worth Beach apartment project approved
A rendering of the Intracoastal Mall and Gil Dezer

Dezer’s plans to remake Intracoastal Mall face opposition

Dezer’s plans to remake Intracoastal Mall face opposition
Alta Developers CEO Raimundo Onetto and Le Parc at Brickell rendering

Le Parc at Brickell condo association sues Alta Developers and partner for alleged construction defects

Le Parc at Brickell condo association sues Alta Developers and partner for alleged construction defects
Biscayne Beach

Lawsuit accuses Biscayne Beach developer and construction firms of shoddy work

Lawsuit accuses Biscayne Beach developer and construction firms of shoddy work
AHS Residential Ernesto Lopes and AHS Residential Tamiami (Credit: AHS)

AHS Residential scores $33M construction loan for Kendall apartment complex

AHS Residential scores $33M construction loan for Kendall apartment complex
AHS Residential’s Ernesto Lopes (Credit: D Ramey Logan/Wikipedia)

AHS Residential scores $34M loan for apartment project near West Palm

AHS Residential scores $34M loan for apartment project near West Palm
Quadro at Design District and Rainmundo Onetto

Alta Developers launches sales of Quadro at Design District

Alta Developers launches sales of Quadro at Design District
Muse Residences and PMG Managing Partner Ryan Shear (Credit: PMG)

PMG, S2 score victory in legal battle at Muse Residences

PMG, S2 score victory in legal battle at Muse Residences
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...