Luxury condo tower in North Miami Beach begins closings

Miami /
Nov.November 23, 2015 12:00 PM

Marina Palms Yacht Club & Residences, in North Miami Beach is now recording closings at its north tower. 

The Plaza Group and DevStar Group are developing the two 25-story tower project on 172nd Street and Biscayne Boulevard. The north tower, which topped off in January, is sold out and the south tower is 80 percent sold, according to a press release. The north tower was slated to open in the summer, developers said earlier this year.

A declaration of condominium for the north tower was recorded in Miami-Dade County on Friday. When both buildings are completed, Marina Palms will have 468 residences.

In March, the developers closed on an $87 million construction loan for the second tower. The project marks the first luxury condo development with a yacht club and marina in Miami-Dade County in more than two decades.

Both buildings will include two, three and four-bedroom residences and penthouses, featuring butler service, an infinity-edge pool and hot tub, a gym, spa, news café, children’s playroom and teen lounge. Other amenities include gated-access with 24-7 valet service. The yacht club and marina will offer 112 boat slips for yachts up to 100 feet in length, a high-speed fuel point and a sundry store.

“While our first residents complete their interior buildouts and prepare to move in, we expect our final finishes in the common areas to be completed towards the end of the year,” Anthony Burns, a DevStar principal, said in the release.

Prices for units started in the low $800,000’s. – Katherine Kallergis

 

Related Articles

arrow_forward_ios
Omega Real Estate's Sebastien Scemla and Juan Carlos Lago with The Gardens Residence project (Behar Font & Partners, Omega Real Estate)
Omega scores $100M construction loan for North Miami apartments
Omega scores $100M construction loan for North Miami apartments
the Church of God Evangelical at 12830 Northeast Sixth Avenue in North Miami with Daniel Jaramillo and Tomas Sinisterra of Strategic Properties based in Miami (Google Maps, LinkedIn)
Praying for a profit? Developers plan multifamily project on North Miami church site, adjacent property
Praying for a profit? Developers plan multifamily project on North Miami church site, adjacent property
Blue Road’s Marcelo Tenenbaum and Jorge Savloff with Emblem Tower (Northmiamifl, Blue Road, iStock)
Blue Road plans 20-story, 139-unit multifamily project in North Miami
Blue Road plans 20-story, 139-unit multifamily project in North Miami
Carlos Rosso and Jackie Soffer with Rendering of One Park Tower by Turnberry at SoLé Mia (Turnberry, iStock)
Turnberry, Carlos Rosso to develop condo tower at massive SoLé Mia in North Miami
Turnberry, Carlos Rosso to develop condo tower at massive SoLé Mia in North Miami
Jon Paul Pérez and Jorge Pérez (The Related Group, Wikipedia)
Related Group proposes 382 apartments on Johnson & Wales site in North Miami
Related Group proposes 382 apartments on Johnson & Wales site in North Miami
Javier Cervera Jr. sells North Miami apartments for $10M in 1031 exchange
Javier Cervera Jr. sells North Miami apartments for $10M in 1031 exchange
Javier Cervera Jr. sells North Miami apartments for $10M in 1031 exchange
Raimundo Onetto with 11950 North Bayshore Drive (Alta, Google Maps, iStock)
Alta plans waterfront North Miami condo project, pays $15M for apartment building on site
Alta plans waterfront North Miami condo project, pays $15M for apartment building on site
Jockey Club tower I at 11111 Biscayne Boulevard (Google Maps, Miami-Dade County Courts)
Jockey Club residents reignite lawsuit against next-door landowner
Jockey Club residents reignite lawsuit against next-door landowner
arrow_forward_ios

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

Loading...