Chilean developer launches first South Florida condo project in Bay Harbor Islands

Prices will range from $761K to $1.2M

Miami /
Mar.March 01, 2021 12:30 PM
Edgardo Defortuna, Claudio Cordero and Carlos Balart with a rendering of the project

Edgardo Defortuna, Claudio Cordero and Carlos Balart with a rendering of the project

Ambienta Developers is launching sales of its first condo development in South Florida in Bay Harbor Islands, The Real Deal has learned.

Ambienta Bay Harbor Islands, a planned 30-unit building at 9901 West Bay Harbor Drive, is expected to break ground in June, said Carlos Balart, executive vice president of Santiago, Chile-based Ambienta.

The firm also plans to also launch a 79-unit condo project with retail in Brickell, and a roughly 270-unit development elsewhere in Miami.

Ambienta, led by CEO Claudio Cordero, hired Edgardo Defortuna’s Fortune International Group to lead sales of the Bay Harbor Islands and Brickell projects.

The developer planned to begin sales last year, but waited due to the pandemic. “As soon as the market looked like it was coming back to normal, we wanted to launch,” Balart said.

Developers throughout South Florida are beginning to launch new projects now that condo sales have started to mount. Nearby, developers Ugo Colombo and Valerio Morabito are planning Onda, which would be built on the Bay Harbor Continental site.

Revuelta Architecture International is designing Ambienta’s Bay Harbor Islands building, a seven-story development with two- and three-bedroom units ranging from 1,229 square feet to 1,662 square feet. The building will feature a double-height lobby, glass facade, and gardens designed by David J. Odishoo. Each unit will include two parking spaces and storage, Balart said.

Ambienta plans to open the sales center soon at 1050 Kane Concourse in the former Bijou Bay Harbor sales gallery and will host small events for top producers. Condo prices will range from about $761,000 to $1.2 million. The developer could break ground in June and top off by July 2022 with closings expected to occur in the spring of 2023, according to Balart.

The developer assembled the site for about $5.9 million beginning in 2018.

Other projects are in the works in the two-island town.

In December, developer Ari Pearl and investor Jonathan Leifer paid $30 million for the Tryp Hotel at 9540 West Bay Harbor Drive, with plans to convert it to a 96-unit condo-hotel.

Developers have been buoyed by the huge increase in single-family home sales that has spilled over into the condo market.

Also at the end of the year, a New York investment manager paid $11.5 million for a waterfront spec mansion in Bay Harbour Islands, setting a new record price for the town.





    Related Articles

    arrow_forward_ios
    From left: The Real Deal editor-in-chief Stuart Elliott, Miami-Dade County Mayor Daniella Levine Cava, City of West Palm Beach Mayor Keith James, City of Boca Raton Mayor Scott Singer, City of Miami Mayor Francis X. Suarez and City of Fort Lauderdale Mayor Dean Trantalis
    “We’re crushing it, and we’re going to continue crushing it.” South Florida mayors talk growth at TRD Miami event
    “We’re crushing it, and we’re going to continue crushing it.” South Florida mayors talk growth at TRD Miami event
    $10M deal in its backyard: Finvarb Group picks up Bay Harbor Islands hotel
    $10M deal in its backyard: Finvarb Group picks up Bay Harbor Islands hotel
    $10M deal in its backyard: Finvarb Group picks up Bay Harbor Islands hotel
    Ari Pearl, Jonathan Leifer sell Bay Harbor Islands condo-hotel units for $21M
    Ari Pearl, Jonathan Leifer sell Bay Harbor Islands condo-hotel units for $21M
    Ari Pearl, Jonathan Leifer sell Bay Harbor Islands condo-hotel units for $21M
    Eichner launches sales of waterfront Bay Harbor Islands condo project
    Eichner launches sales of waterfront Bay Harbor Islands condo project
    Eichner launches sales of waterfront Bay Harbor Islands condo project
    Elysee Investments buys Bay Harbor Islands office building for $8M
    Elysee Investments buys Bay Harbor Islands office building for $8M
    Elysee Investments buys Bay Harbor Islands office building for $8M
    PKWare CEO Spencer Kupferman with the Bay Harbor Islands home (PKWare, Compass via Douglas Elliman)
    Software honcho pays record $13M for waterfront Bay Harbor Islands home
    Software honcho pays record $13M for waterfront Bay Harbor Islands home
    Janice Wackenhut and the Fisher Island property (Facebook via Wackenhut, Pablo Alfaro Group)
    Safe investment? Wackenhut heir flips Fisher Island penthouse for $21M
    Safe investment? Wackenhut heir flips Fisher Island penthouse for $21M
    Fued Sadala with the Bay Harbor Islands home (Photos via Dreampact Ventures and Douglas Elliman)
    Venture capitalist pays record price for waterfront Bay Harbor Islands home
    Venture capitalist pays record price for waterfront Bay Harbor Islands home
    arrow_forward_ios

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

    Loading...