(To read more on the multifamily market, click here.)

SUNNY ISLES BEACH, FL-Deerfield-based Waterbrook Developers LLC plans the 27-story, 69-unit Da Vinci on the Ocean condominium on the former Dessert Inn Hotel site at 17141 Collins Ave. William Rudnick, CEO of the parent company, Waterbrook Inc., declined to disclose the estimated construction cost, but tells GlobeSt.com he anticipates a $145-million sellout. Twenty units are now reserved, he says.

Each floor contains no more than three two- and three-bedroom units, each with a private elevator. They range in size from 2,133 sf to 2,858 sf, and the sales prices begin at $1.3 million. There are three two-story penthouses, ranging from 4,760 sf to 4,985 sf, priced from $3.5 million.

Construction is scheduled to begin this December, and completion is expected in late 2008. Miami-based Kobi Karp is the architect, and Howard Design Group of Coconut Grove is the interior designer. Galleria Collection Marketing is handling sales.

Rudnick heads Waterbrook with Thomas Yianilos. Among the company’s other South Florida projects are One Ocean Boulevard in Deerfield Beach, Peninsula on the Intracoastal in Boynton Beach, and the Oaks, a single-family community in Boca Raton.

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