The Real Deal Miami

On the scene at Turnberry Ocean Club’s broker luncheon: PHOTOS

Developer is in talks with lenders for construction financing
December 15, 2016 10:30AM

With its groundbreaking ceremonies now in the rear view mirror, Turnberry Associates recently held a “Power Brokers” party to showcase the developer’s upcoming Turnberry Ocean Club condo project in Sunny Isles Beach.

The event was held at Turnberry Ocean Club’s sales gallery, where agents from Brown Harris Stevens | Zilbert, One Sotheby’s International Realty, Turnberry Realty and other brokerages gathered to have lunch and check out a fully furnished model unit. Turnberry also had a flock of flashy retailers from Aventura Mall, of which the company owns a majority stake, bring a selection of their merchandise to the party.

Construction began for Turnberry Ocean Club in November, months after the 650-foot tower’s previous groundbreaking date of spring 2016. The building will have 154 units with asking prices starting at $3.9 million for a three-bedroom condo when it opens in 2018. The developer is now looking to close on construction financing and is in talks with several lenders.

One Sotheby’s is handling sales, and 40 percent of the units have been purchased so far. — Sean Stewart-Muniz and Katherine Kallergis