Ian Bruce Eichner is moving ahead with plans for his waterfront Bay Harbor Islands condo development.
The Continuum developer began sales of La Baia, Bay Harbor Islands, the first of two buildings he’s planning in the town, with prices starting at $810,000. The 68-unit, eight-story building will be built on the lot at 9201 East Bay Harbor Drive.
Eichner pointed to the strong pace of presales at nearby projects and the appeal of having a marina. Among other projects, Ambienta Developers launched sales of a 30-unit building planned for 9901 West Bay Harbor Drive in March, and the project is now at least 75 percent presold. Ugo Colombo and Valerio Morabito began selling Onda, a planned 41-unit, eight-story development at 1135 103rd Street in Bay Harbor Islands, at the same time, and it is about 50 percent presold.
“Over the next 15 months I don’t see an appreciable change in the market,” Eichner said. “You can’t create supply quickly enough.”
Units will range from one to four bedrooms, between 1,100 square feet and 2,500 square feet. The building will have more than 30,000 square feet of amenities and a marina with 20 boat slips, according to a release. Durukan Design of New York is selecting the fixtures and finishes, and units will have ceiling heights of up to 10 feet tall, and large walk-in closets.
Revuelta Architecture is designing the building.
Eichner plans to begin seawall work in January and start on the foundation in April. The building is expected to be delivered in November 2023.
Eichner’s Continuum Company paid $29.5 million for the Bay Harbor Islands land, which includes 9461 East Bay Harbor Drive, where he will launch a second project. Taubco affiliates, controlled by developer Irwin Tauber, sold the sites. As part of the deal, Taubco previously secured development rights for the property.
Continuum Company developed the two-tower Continuum condo complex in South Beach in 2003 and 2008. In April, Eichner sold his penthouse there for $35 million. He is based in New York.