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Announcement

Is Saint Regis coming to Sunny Isles this year with presales?

By
Cashflow In Miami
on
January 31, 2021

18801 Collins Avenue, Sunny Isles Beach

This  4.7 acre oceanfront development has been sitting silently ever since the old La Playa De Varadero motel with Russian place-we used to call "shashlychka" got bought out for $113 million. Last month Edgardo Defortuna and Manuel  Grosskopf encouraged by their sales of the Ritz Carlton Sunny Isles talked about moving forward with new project.  The site is approved for 490 residential units and 1.15 million square feet and two 56-story towers are planned. One hotel and one residential. Rumor had it developers planned for the St Regis brand. The joint venture of the  developers just refinanced the place for $119 million in May with  bank OZK  that is lending big in Florida and Sunny Isles specifically.

It should be noted that The Related group does not currently have any devleopments in Sunny Isles , the Trump Group ( has none to do with president ) is doing amazing things with Estates of Acqualina construction and sales ( their lender is OZK -half a billion , Karl) , then we have Dezer -father and son, that are closing Residences of Armani Casa weekly. Depending on how fast Gil Deser will close famous designers venture highrise will depend how fast he wil jump into the highest approved tower in town presales (743 feet above ground, or 749 feet above sea level, on the property at 18401 Collins Avenue)  , which will most likely carry Bentley brand in the place of the current Days hotel ran by Wyndham.  I think that will occur next year after the Armani is sold out, then we will also watch the sale of the Tropicana condominimum -the southernmost building bordering the Halouver Park. It will get sold,  demolished and will make a way for the new  tower. And the venture Chateau and Fortune International will try to grab that one, although, i think it has buyer that has been waiting for the Ritz Cartlon to complete and could not move due to the 5 straw buyers that would not allow the sale of the Morris Lapidus designed building.  We should also mention about the moratorium to build in the center of Sunny Isles Beach , which i hope will get lifted in September, that would allow two buildings across the street from the ocean to get sold , demolished and make a way for the new town centre, like Boca Mizner park:)

Am sure Dezer is watching the new Milton office tower that just opened up and if it fills up fast enough, he might go next year with the plans to erect his own office highrise next the current Publix-big lot is owned by him to the north, or he might spend all his energy on the monster master planned community , that is  facing opposition from the Eastern Shores residents- 3881 Northeast 163rd Street Intracoastal mall and the whole plaza is being in the works for the over 2.8 million sq ft build out,which would include 375,000 square feet of retail, 200,000 square feet of office, 2000 residential units, and 250 hotel rooms in structures up to 495 feet tall. Parque Towers on the Sunny Isles Beach boulevard is closing weekly as well and Milton(the developer of the project) might go Arts  and Entertainment District to start the rental tower coined Art Luxury Rentals (fantastic name)  after he sells out here. Oh, yes and the three story hotel approved by the city that will get built on the ocean instead of old Monaco motel (17501 Collins avenue ) , will probably get off the ground next year as well. Since the Infinity mixed (16700 Collins avenue) , use got scrapped,  thanks to Raan Katz( sole owner of all Sunny Isles Beach commercial plazas across the street from the ocean),  that cant stand competition in his area, we will see what will happen to the Shell gas station and the lot behind the Marshalls store. And Soffer's Turnberry Ocean will start closing this year -most likely in time for the Christmas holidays. And Aurora-the site of former Dennys will get finished and will start closing 2020 as well. As you see little city of Sunny Isles got lots of wonderful things cooking and Cashflowinmiami is happy to bring the latest news about developments here!

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