Related Group JV Launches Sales at Miami-Area Condo Project

This is the first project to hit the milestone at a 314-acre mixed-use development.

  • Icon Beach Condo
  • Icon Beach Condo
  • Icon Beach Condo
  • Icon Beach Condo
  • Icon Beach Condo

Related Group and BH Group have launched sales at Icon Beach Waterfront Residences, a 350-unit luxury condominium project in Hollywood, Fla. Dezer Platinum Realty is leading the sales and marketing efforts.

Bank Hapoalim International provided a $13.2 million construction loan for the project, according to Broward County public records. The condo tower’s development should take about two years, the South Florida Sun Sentinel reported.

Icon Beach Waterfront Residences will include one-, two- and three-bedroom residences with sizes ranging from 948 square feet to 2,580 square feet. The interiors, designed by Meyer Davis, will feature sliding glass doors, Italian cabinetry and light-filled master bedrooms. The condominium prices will run from $825,000 to $2.8 million.

READ ALSO: Post-Messi, Global Interest for South Florida Multifamily Is Skyrocketing

The property will also include 30,000 square feet of amenities such as a full-service beach club, spa, a wellness center, a world-class health club an access to the on-site marina. Additionally, the amenity package also includes a pool deck with outdoor cinema and summer kitchens, a waterfront event space and a curated art collection with pieces from the Jorge M. Pérez Contemporary Art Collection.

The property will rise at 3451 and 3690 S. Ocean Drive on an 8-acre development site within Diplomat Activity Center that the developers bought for $835 million from Trinity Real Estate Investments of Honolulu and Credit Suisse Asset Management, according to the South Florida Sun Sentinel. The same source reveals that the condo tower is the first phase of a two-part development that will also include a condo hotel with 500 units, currently in the planning stages.

Icon Beach Waterfront Residences will be 2 miles from Hollywood Beach, 9 miles from Fort-Lauderdale-Hollywood International Airport, 12 miles from Fort Lauderdale, Fla., and within 20 miles of downtown Miami. Dezer Platinum Realty’s sales and marketing team is led by Gil Dezer and Sebastian Tettamanti.

Luxury condo projects underway in South Florida

There are multiple condo projects in various stages of development currently underway in the South Florida area. Among them, The Residences at Shell Bay, a 20-story, 108-unit luxury tower in Hallandale Beach, Fla., recently reached more than $120 million in sales. The project is being developed by Witkoff Group and PPG Development.

Last month, a joint venture between Merrimac Ventures and Aria Development Group secured $95 million in construction financing for a 606-unit condo project in downtown Miami. Newmark and law firm Bilzin Sumberg LLP secured the financing on behalf of the partnership, which expects to complete the 32-story building in 2026.

You May Also Like