Developer Jason Halpern sold an oceanfront site in Surfside to Nadim Ashi’s Fort Partners, which completed the adjacent Four Seasons Hotel and Residences at the Surf Club, for $60 million.
An affiliate of Halpern’s New York-based JMH Development struck a deal with Fort Lauderdale-based Fort Partners in 2021 to sell the 0.6-acre development site at 8995 Collins Avenue and a 0.2-acre parcel catty corner at 9000 Collins Avenue, records show. The latter is directly across the street from the Four Seasons.
The 0.6-acre oceanfront property was home to the Surf House Condominium, a nine-story, 36-unit condo built in 1966. Halpern acquired a majority of units in the building and terminated the association, but was sued in 2016 by a group of owners over the buyout and termination. The case was settled in 2020. Last summer, crews began demolishing the Surf House building.
The site could be developed into an 11-story, 19-unit condo building, according to Vizzda. Renderings show plans designed by architect Kobi Karp.
Fort Partners secured a $36 million loan from Synovus Bank for the Surf House purchase. The loan can be increased to $350 million, records show. Ashi did not respond to a request for comment.
Fort Partners, which now owns all of the Four Seasons-branded hotels and residential developments in South Florida, was especially successful with the Surf Club Four Seasons in Surfside, where resales have set all-time records in Miami-Dade County. A penthouse there recently sold for $44 million, or a record $6,000 per square foot, to a hidden buyer.
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Fort Partners has also expanded immediately north of the Four Seasons-branded Surf Club. The firm is under construction on the redevelopment of the Seaway Villas at 9133 and 9149 Collins Avenue.
It’s also planning an 11-story, 14-unit condo at 9163-9165 Collins Avenue. Last year, the firm paid $41.5 million for the 1-acre assemblage.
In Miami’s Coconut Grove, Fort Partners is partnering with Ugo Colombo’s CMC Group on a boutique Four Seasons-branded condo building that the two firms are preselling.