Multiplan Real Estate Asset Management is seeking approval for Surfside’s oceanfront condos to replace an older building in “dire” condition.
Multiplan, led by Brazilian billionaire José Isaac Perez, will build 93 Ocean, a 12-story, 27-unit project at 9309 and 9317 Collins Avenue, according to documents filed with the city. The Town Planning and Zoning Commission will vote on approval of the project’s site plan at its meeting Thursday.
R Palace Surfside LLC maintained by developer Vivian Diamondpurchased all units at the development site, which is home to the existing 34-unit Regent’s Palace Condominium Complex, built in 1951. R Palace Surfside spent approximately $36 million to acquire the unit and the land under the building between 2020 and his August of this year. , the record is displayed.
Multiplan commissioned a site traffic study. Records show that the developer funded his $25 million purchase to R Palace Surfside in late July.
Multiplan declined to comment and Dimond did not respond to a request for comment. PGutman LLC broker Phil Gutman is involved in the transaction, according to sources.
In its letter of intent, the developer said the condition of the properties “can only be described as ‘dire’,” and in July 2021, “after the unsafe conditions were recognized,” the two buildings were voluntarily closed. He said an evacuation order had been issued. Champlain Towers South An apartment building collapsed on June 23, 2018, killing 98 people.
After the tragedy, many coastal properties were deemed unsafe.Developers have long targeted bulk buyouts and cancellations of older condos, but the trend is Soaring popularity since the collapse. expensive to repair The transition to old buildings contributes to the movement.
The developers hired Arquitectonica and ArquitectonicaGeo to design the new 93 Ocean building and its landscaping respectively. The proposed design includes a rooftop pool deck.
Multiplan built the project in Miami Beach.The company recently completed 57 seaOcean Front Luxury Condo Penthouse sold for $37 millionalso under construction marine parka boutique condominium project on Ocean Drive in Miami Beach, due to be completed next summer.
The small town of Surfside, north of Miami Beach, has seen a boom in development in recent years. Fort Partners has additional projects underway near the Four Seasons branded Surf Club project at 9011 Collins Avenue. Miami Heat president Pat Riley and his wife Christine sold the unit earlier this year in search of records. $5,800 per square foot.
Dubai-based developer 8777 Collins Avenue condominium collapse site Nature of Damac We plan to build luxury condominiums under the Cavalli brand.
Brown Harris Stevens Miami broker Dimond and her partner Jeff Cohen represented Damac in the purchase of the land.