Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SUNNY ISLES BEACH, FL-Condominium-saturated South Florida is getting still another luxury product. This time it’s Acqualina, a $180-million, 51-story, 283-unit high-rise condo-hotel with a gross development area of 1.5 million sf. Sunny Isles Beach is 10 miles north of Downtown Miami.

Developers Jules Trump and Alan Matus, principals of Williams Island Associates Ltd., are breaking ground on the project at 17875 Collins Ave. in the first quarter. They purchased the 4.5-acre oceanfront parcel from Pan American Hotel for $31 million or $6.89 million per acre ($158 per sf). Area land brokers tell GlobeSt.com it’s one of the most expense pieces of dirt in South Florida.

The construction cost equates to $120 per sf and $636,042 per residential unit. The parcel has 400 feet of Atlantic shoreline and will accommodate 295 vehicles. Completion is scheduled for early 2003.

Of the 283 residences, 166 condos are priced from $800,000 to $9 million penthouses. The units have 10-foot ceilings; up to 15,000 sf of living area; and private pools. Fifty-two oceanfront suites of about 2,000 sf cost up to $1 million. Another 65 one- and two-bedroom hotel suites start at $500,000.

The architect is Robert Swedroe Architects/Planners. of Miami Beach. The landscape architect is Taft Bradshaw of Lauderdale-by-the-Sea, FL. Management for the hotel is Rosewood Hotels & Resorts of Dallas.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.