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SUNNY ISLES BEACH, FL- Cornerstone Premier Communities has broken ground on La Perla Ocean Residences, a planned 42-story oceanfront condominium tower here. This follows a recently completed construction loan obtained by the developers for $86 million to build the project.

Located at 16701 Collins Ave., the property has been well-received in the market. More than 85% of La Perla residences have been sold in six months. That’s up from 70% sold at the beginning of February.

The first phase is sold out, and delivery is set for January 2005. The second phase includes prime units and penthouses from the 26th floor to the 42nd floor. That phase is more than 50% sold.

International Sales Group LLC is the exclusive listing broker. The project’s sales center is located at 16810 Collins Ave. Units are pre-construction priced from the $400,000s.

La Perla was designed by Kobi Karp. The average unit size is more than 1,400 sf. Units will range from 1,037 sf to 1,887 sf of total living area, and from 2,600 sf to 3,100 sf for penthouses.

The project touts a five-star lifestyle. Each of the 326 residences will have an ocean view and floor-to-ceiling tinted glass windows. Amenities will include a beachfront pool, a fully equipped fitness center, a business center, a sports lounge, a children’s play area, a party/club room, secured owner storage facilities, and direct access to a fishing pier and beachfront park. The project also will feature fountains and a landscaped sundeck overlooking the ocean. In addition, penthouse units will feature extended terraces and 10-foot-high ceilings.

Cornerstone Premier Communities is the luxury residential arm of The Cornerstone Group, a large, national multifamily developer based in Coral Gables, FL.

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