Surfside development site on Collins Avenue lists for $27M

Miami /
Jan.January 15, 2016 03:45 PM

A property assemblage across from the Surf Club Four Seasons in Surfside has hit the market for $27 million, or $626 per square foot for the land. 

The nearly 1-acre site, at 9040 Collins Avenue, includes four buildings and a parking lot on the dry side of Collins. It is being marketed as an investment opportunity for a luxury hotel, listing agent Fabio Faerman of Fortune International Realty/FA Commercial told The Real Deal.

Currently, the properties house 45 apartments. All together, they offer 250 feet of frontage on Collins Avenue and 50 feet on Harding Avenue. Faerman said the site is zoned for condo or hotel development – up to 108 hotel rooms and 79 residential units.

Miami-Dade County property records show the owners as LLCs managed by Jose Nicenboim of Aventura. The companies paid a combined $11.5 million for the Surfside properties between 2012 and 2014.

On the water side, Nadim Ashi’s Fort Partners, formerly Forte Capital Management, is developing the Four Seasons, a nine-acre development that includes an 80-room hotel, two 12-story residential towers, a private club, two restaurants, four swimming pools, cabanas, a gym, oceanside gardens and a park. That project topped off in June and is slated for completion during the second quarter of this year.

Fort Partners also owns property on the same block of the assemblage that is now for sale, property records show.

Surfside, which borders Bal Harbour, has seen an uptick in commercial sales. Benedict Realty Group in January paid $18 million for a bank and retail building on Harding Avenue and 96th Street. And nearby, Bal Harbour Shops has plans for a $400 million-plus renovation and expansion. The Whitman family owns the luxury retail development, and plans to add a new entrance, wider sidewalks, a new canopy, landscaping.

The Château Group is also in Surfside developing the Fendi Château Residences, at 9365 Collins Avenue, which topped off in August and is expected to open in June 2016.


Related Articles

arrow_forward_ios
Armani Residences at 18975 Collins Avenue in Sunny Isles Beach, Jade Signature at 16901 Collins Avenue in Sunny Isles Beach, Palazzo Della Luna at 6800 Fisher Island Drive in Miami Beach and Estates at Acqualina at 17901 Collins Ave in Sunny Isles Beach (Condo.com)
Miami-Dade condo sale prices fall in October
Miami-Dade condo sale prices fall in October
From left: Jimmy Butler, LeBron James and Hassan Whiteside (Getty, Master Brokers Forum, Google Maps)
South Florida by the numbers: Miami Heat fires up real estate
South Florida by the numbers: Miami Heat fires up real estate
One Thousand Museum, Regalia, Gables Club Tower II, Fendi Chateau Ocean Residences, Jade Signature (Google Maps)
Condo sale prices continue to climb in September
Condo sale prices continue to climb in September
Gables Club Tower II at 60 Edgewater Drive in Coral Gables (Condo.com, Getty)
Coral Gables closing tops Miami-Dade’s weekly condo sales
Coral Gables closing tops Miami-Dade’s weekly condo sales
Jade Signature (Google Maps, Getty)
Jade Signature closing tops Miami-Dade’s weekly condo sales
Jade Signature closing tops Miami-Dade’s weekly condo sales
Surfside Mayor Shlomo Danzinger and Damac's Hussain Sajwani with the Surfside collapse site (LinkedIn, Farees Jamal CC0 via Wikimedia Commons, Getty)
Damac begins tense talks about Surfside memorial
Damac begins tense talks about Surfside memorial
Regalia at 19575 Collins Avenue Sunny Isles Beach, Armani Residences at 18975 Collins Avenue Sunny Isles Beach, Asia Brickell Key at 900 Brickell Key Blvd, and Muse at 17141 Collins Avenue Sunny Isles Beach (Condo.com)
Miami-Dade’s August top condo sales show market emerging from summer slowdown
Miami-Dade’s August top condo sales show market emerging from summer slowdown
Fendi Chateau Ocean Residences at 9349 Collins Avenue Surfside (Google Maps, Getty)
Fendi Château tops Miami-Dade’s weekly condo sales
Fendi Château tops Miami-Dade’s weekly condo sales
arrow_forward_ios

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

Loading...