Congress Group launches sales of new Bay Harbor Islands condo project

Prices range from $4.4M to $6.4M

TRD MIAMI /
Apr.April 18, 2018 10:30 AM
Rendering of Opus Bay Harbor and Congress Group president Dean Stratouly

Rendering of Opus Bay Harbor and Congress Group president Dean Stratouly

More than two years after buying waterfront land in Bay Harbor Islands, Congress Group is launching sales of a boutique condo project, the second of two developments it’s planning in the bayfront town.

Congress hired Compass to handle sales of Opus Bay Harbor, a seven-unit, eight-story building planned for 10301 East Bay Harbor Drive, said Philip Freedman, managing director of Compass Florida’s development division.

The Boston real estate investment and development firm paid $5.52 million to buy out the 12 owners of the former Harbor View building at 10301 East Bay Harbor Drive in late 2015.

The developer plans to break ground in September, Freedman said. Opus will feature four-bedroom units with a den, ranging from 4,225 square feet to 5,000 square feet and from about $4.4 million to $6.4 million.

Bermello Ajamil designed the development, which will include a gym, rooftop kitchen and pool, private lobby, docks for residents’ boats, and a garage. It’s expected to be delivered by early 2020, according to a press release.

Opus will add to a number of projects in the pipeline in Bay Harbor Islands, but Freedman said the building will stand out because units at Opus are more than double the size of competing projects. A report released in August found that the Bal Harbour, Surfside and Bay Harbor Islands market had about two years of excess luxury condominium inventory, which was excluding preconstruction units.

In addition to buyers from the Northeast, Compass will be targeting single-family homeowners in Indian Creek and Bay Harbor Islands.

Freedman said Congress is finalizing construction financing for Opus and the Waters, a nine-unit project planned for 9781 East Bay Harbor Drive, which the developer launched about four months ago. Half-floor units at the Waters range from 1,500 square feet to 2,800 square feet, and full-floor units range from 3,800 square feet to 4,300 square feet. Prices start at $995,000 and go up to $4.75 million.


Related Articles

arrow_forward_ios
From left: Developer Jesus Quintero, Chad Carroll, and the Quint Collection

Chad Carroll takes over sales of waterfront Hollywood townhomes

Chad Carroll takes over sales of waterfront Hollywood townhomes
Chad Carroll

Top-selling Douglas Elliman agent Chad Carroll joins Compass along with his team

Top-selling Douglas Elliman agent Chad Carroll joins Compass along with his team
Prive at Island Estates and BH3’s Charlie Phelan, Greg Freedman and Daniel Lebensohn and Gary Cohen

Privé at Island Estates developer sues Suffolk Construction over defects

Privé at Island Estates developer sues Suffolk Construction over defects
Pierre Brondeau and Palazzo Del Sol

Pesticide exec pays $14M for Palazzo Del Sol condo

Pesticide exec pays $14M for Palazzo Del Sol condo
Howard Lorber and 1525 North View Drive

Howard Lorber buys waterfront Sunset Islands home for $12M

Howard Lorber buys waterfront Sunset Islands home for $12M
2201 Sunset Drive and David Grutman (Credit: Douglas Elliman)

Hospitality mogul David Grutman lists Sunset Islands home

Hospitality mogul David Grutman lists Sunset Islands home
Jim Cohen, Fontainebleau Development’s president of Residential, and Jeffrey Soffer, with SeaGlass Jupiter

Jeffrey Soffer’s Fontainebleau Development launches sales of Jupiter Island luxury condos

Jeffrey Soffer’s Fontainebleau Development launches sales of Jupiter Island luxury condos
Ivan Chorney and Michael Martirena

Movers & Shakers: Top One Sotheby’s team joins Compass, shakeup at CBRE & more

Movers & Shakers: Top One Sotheby’s team joins Compass, shakeup at CBRE & more
arrow_forward_ios

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

Loading...