Luxe 12-story condo project in North Beach moves forward

Miami /
Dec.December 02, 2015 12:45 PM

The last vacant parcel of land along Miami Beach’s Indian Creek Drive could soon be developed into a 30-unit luxury condominium, featuring deep views into Biscayne Bay, private boat docks and a baywalk with public access along a pristine stretch of Biscayne Bay.

The project is being developed by 6800 Indian Creek LLC, which is managed by Optimum Development USA’s Ricardo Tabet.

Tabet received a variance from the Miami Beach Design Review Board on Tuesday to eliminate a residential liner requirement for parking – allowing for extensive landscaping, which Optimum and project architect Arquitectonica said is necessary as the first step in a design review process that could be completed by February.

The 30-unit project would have 66 parking spaces for a combined 95,420 square feet. The 1.1-acre site was bought for $11.25 million in 2014. The property was seized in a foreclosure proceeding in 2010 after a previous condo project at the site went into bankruptcy.

Bernardo Fort-Brescia, principal of Arquitectonica, told The Real Deal that all units will have both street and bay views out onto Biscayne Bay. “The challenge was to get all the units to look out onto what is the best position along Indian Creek, which is in the best position because it is right in the center between the two islands, [Allison and Normandy Isle].”

He said that he expects to limit subterranean parking to four feet to reduce the threat of flooding from sea level rise.

Tabet said the North Beach project will also have about 12 dock spaces, which he said significantly adds to the project’s value.

“We are going for a certain type of client that sees it as very special because it has docking space. That has added value,” he told TRD.  “We believe the quality we are building is very high and very elegant, and we are going for a certain type of client that sees that it is special.”

Tabet and Optimum are involved in several large projects in Miami Beach, including the Park Central Hotel in the 600 block of Ocean Drive, a retail project at 600 Collins Avenue, and commercial projects in Coconut Grove and the Brickell area.


Related Articles

arrow_forward_ios
Eighty Seven Park and the lot where the Champlain Towers South once stood (Douglas Elliman)
Italian investor sells Eighty Seven Park unit to hedge funder in first closing since deadly condo collapse next door
Italian investor sells Eighty Seven Park unit to hedge funder in first closing since deadly condo collapse next door
After the construction of Eighty Seven Park (Google Maps)
Before Surfside tragedy, neighboring tower faced opposition, delays over construction impact
Before Surfside tragedy, neighboring tower faced opposition, delays over construction impact
Greenstone pays $41M for North Beach apartments along Tatum Waterway
Greenstone pays $41M for North Beach apartments along Tatum Waterway
Greenstone pays $41M for North Beach apartments along Tatum Waterway
Investors put waterfront Normandy Isle apartment complex on the market for $15M
Investors put waterfront Normandy Isle apartment complex on the market for $15M
Investors put waterfront Normandy Isle apartment complex on the market for $15M
North Beach multifamily portfolio trades for $31M
North Beach multifamily portfolio trades for $31M
North Beach multifamily portfolio trades for $31M
The Devon Apartments in North Beach (Google Maps)
North Beach apartment building deemed unsafe, ordered evacuated
North Beach apartment building deemed unsafe, ordered evacuated
Novak Djokovic with the unit (Eighty Seven Park unit photo via Lenny Kagan, Djokovic via Getty)
Novak Djokovic sells Miami Beach condo for modest profit
Novak Djokovic sells Miami Beach condo for modest profit
Developer Aria Mehrabi with renderings of the development (Banu Foundation, BRFLT)
Miami Beach board approves pharmacy for North Beach project
Miami Beach board approves pharmacy for North Beach project
arrow_forward_ios

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

Loading...