A trio of developers recently broke ground on the L’Atelier Residences, an upcoming all-glass condo tower in Miami Beach.
SMG Management, W Capital Group and the Disney Family’s Shamrock Holdings broke ground on the 18-story tower during a private ceremony last week.
The groundbreaking occurred at the Golden Sands Hotel, which was mostly razed to make way for the new condo tower. Its three-story facade will be preserved and incorporated as part of the L’Atelier building.
Miami Beach Mayor Philip Levine attended, as well as the tower’s developers and sales team with ONE Sotheby’s International Realty.
The tower, 6901 Collins Avenue, will house 22 residences with either three bedrooms or four bedrooms with prices starting at $3.6 million. Their sizes range from a half-floor measuring 2,300 square feet, or a full floor measuring 4,600 square feet. Its multi-story penthouse will nearly double that size at 8,000 square feet, with a price tag of $25 million.
L’Atelier, which launched sales in February this year, will open in 2017, according to a press release.
SMG Management is a partnership between Stanley Gold of Shamrock Holdings, which is the investment firm of the Disney family, and Meir Srebernik, former CEO of Dankner Investments. The two are long-time associates who have also partnered on Peloro, a completed condo project in Miami Beach. — Sean Stewart-Muniz