13th Floor, Integra wrap up their latest Bay Harbor condo project

Project was previously slated to open by summer 2016

TRD MIAMI /
Apr.April 01, 2017 09:00 AM

Sereno at Bay Harbor Islands has officially opened its doors.

Developers 13th Floor Investments and Integra Investments just announced they were granted a temporary certificate of occupancy for the eight-story condo project, clearing the way for buyers to take possession of their units.

The news caps off more than two years of construction after workers first broke ground on the luxury 38-unit building in January 2015. According to the developers, the project has completely sold out an an average price of $626 per square foot, for a grand total of $44.5 million.

As The Real Deal previously reported, a large portion of the project’s buyers were Brazilian. The building was originally slated to be completed by summer 2016.

Units at Sereno range in size from 1,000 square feet to 2,000 square feet, and buyers will now have access to amenities like a rooftop lounge with a “zero-edge pool,” an outdoor movie theater and a marina with private boat slips.

13th Floor and Integra bought the waterfront land at 10201 East Bay Harbor Drive, along with a portfolio of nine other apartment buildings in the area, for $15.3 million in 2012. Construction was financed with a $12.3 million loan from City National Bank, and the developer said all 38 buyers paid 50 percent commissioners on their units.

Bay Harbor Islands has become a hot spot for luxury boutique development over the past three years, transforming what was once a single-family neighborhood into the newest frontier for investors and luxury builders. — Sean Stewart-Muniz


Related Articles

arrow_forward_ios
Vladislav Doronin (Credit: Gesi Schilling via Wikipedia)

Billionaire developer Doronin buys Fort Lauderdale assemblage for $63M

Billionaire developer Doronin buys Fort Lauderdale assemblage for $63M
Seth Wise, Co-CEO of The Altman Companies, Altís Ludlam Trail

Altman scores $55M construction loan for Ludlam Trail project

Altman scores $55M construction loan for Ludlam Trail project
Joseph Swedroe (Corcoran, iStock)

Corcoran agent in Miami loses job over “racist and fear-based” marketing

Corcoran agent in Miami loses job over “racist and fear-based” marketing
Vanessa Grout with Vladislav Doronin

Vanessa Grout leaves Ugo Colombo’s firm to lead OKO Group’s real estate arm

Vanessa Grout leaves Ugo Colombo’s firm to lead OKO Group’s real estate arm
Rendering of the project with Jon Paul Pérez (top) and Jorge Pérez 

Related switches gears on Terminal Island project, now plans low-rise offices

Related switches gears on Terminal Island project, now plans low-rise offices
Edgardo Defortuna and a rendering of La Playa de Varadero

Not stopping for the pandemic: Fortune, Château could launch Sunny Isles project by year-end

Not stopping for the pandemic: Fortune, Château could launch Sunny Isles project by year-end
Richard Branson (Credit: Virgin, Cindy Ord/Getty Images)

Virgin Trains seeks $350M to build five stations in Miami-Dade

Virgin Trains seeks $350M to build five stations in Miami-Dade
Easton Group picks up land in Hialeah Gardens for $8M

Easton Group picks up land in Hialeah Gardens for $8M

Easton Group picks up land in Hialeah Gardens for $8M
arrow_forward_ios

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

Loading...