Saturday, February 4, 2012
MIAMI, FL --A veteran developer with a track record in South America and a growing land portfolio in South Florida plans to build an ultra-luxury condominium tower on an oceanfront site in the barrier island city of Sunny Isles Beach (top left photo) in Northeast Miami-Dade County, according to a new report from CondoVultures.com.
The proposed 35-story Chateau Beach tower - with 84 units and 271,500 square feet on a one-acre site on Collins Avenue - would be the fifth project slated for construction in Sunny Isles Beach in the last six months, according to the CondoVultures.com Preconstruction Condo Projects list.
Overall, more than 20 new condo tower with 4,300 units are proposed for the coastal area of the tricounty South Florida region despite an estimated 4,200 developer units remaining unsold as of Dec. 31, 2011, according to a preliminary estimate based on the CondoVultures.com Official Condo Buyers Guide™ series.
The next step for the proposed Chateau Beach condo project is on Feb. 16, 2012 when the project’s developer – a Florida entity controlled by the Grosskopf Group of Argentina - is scheduled to appear before the Sunny Isles Beach City Commission for a public hearing on the proposed tower, according to a City of Sunny Isles Beach Notice of Zoning Hearing.
The Grosskopf Group develops and invests in residential towers and shopping centers in Argentina and Uruguay. The group has reportedly developed several condo towers including the Chateau Libertador Residence and Chateau Puerto Madero Residence.
In South Florida, the Grosskopf Group has acquired five developments sites - and counting - around South Florida ranging from the existing Ocean Palm Motel site on Collins Avenue in Sunny Isles Beach to the former Paramount Park condo tower site at 728 Biscayne Blvd. in Greater Downtown Miami, according to Miami-Dade County Property Appraiser Office records.
The property was put up for auction on Jan. 9, 2012 whereby the lender of record, Chateau Beach LLC with Manuel Grosskopf, won the bidding, clearing the way to obtain title on Jan. 27, 2012, according to Miami-Dade County records.
Prices are slated to range from $650 to $800 per square foot with a total deposit of 50 percent of the contracted purchase amount.
The proposed Chateau Beach tower is to offer units that range in size from less than 1,500 square feet to more than 9,000 square feet.
Sunny Isles Beach is a 40-block stretch from the town of Golden Beach boundary south to Haulover Beach Park, Biscayne Bay east to the Atlantic Ocean. Sunny Isles Beach is divided up into three neighborhoods separated by causeways: North, Central, and South.
Condo Vultures® LLC is a real estate consultancy and marketing company based at 1005 Kane Concourse, Suite 205, Bal Harbour, Florida, 33154.