Luxury condo tower in North Miami Beach begins closings

First phase of 468-unit project is now completed

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

Gil Dezer and 3909 Northeast 163rd Street (Credit: Google Maps)

Dezer picks up office building next to Intracoastal Mall

Rendering of the project, Davide Bizzi and Jeff Bercow

North Miami Beach approves Bizzi & Partners’ mixed-use tower

Alex Zylberglait of Marcus & Millichap and 2020 Northeast 163rd street

Argentine investor nabs North Miami Beach Opportunity Zone property

Daily Digest Miami

Ken Griffin pays nearly $100M for Palm Beach estate, new renders of 830 Brickell office tower: Daily digest

From left: Jacob Serure, Elliot Shainberg, Deme Mekras, and Aaron Kurlansky with California Club Apartments

Coral Springs investor buys apartment complex near Aventura

Brett David and a rendering of the auto spa

Prestige Imports plans $2M “auto spa” in North Miami Beach

Jorge Savloff and Marco Tenenbaum with a rendering of the project

Blue Road wins approval for Capri condo tower in North Miami Beach

Baskir Capital buys a TD Bank branch in North Miami Beach

Baskir Capital buys a TD Bank branch in North Miami Beach