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

MIAMI- Atlantic Sunset Bay LLC, an Aventura-based developer, plans to begin construction in December on the 15-story, 78-unit Bel Aire on the Bay condominium project at 6800 Indian Creek Dr.

The project will contain units with two bedrooms; two bedrooms and a den; and penthouses with three-bedrooms. The units will range in size from 1,214 sf to 3,174 sf. Among unit amenities will be 9.5-ft ceilings with floor-to-ceiling windows, stainless steel appliances and built-in espresso machines. Building amenities will include an 18-slip marina, Zen garden, library and cigar and wine cellar. The architect is Kobi Karp.

Fernando DeNunez, of Miami-based Fortune International which is the exclusive sales and marketing firm on the project, tells GlobeSt.com that prices for the units range from $560,000 to $1.1 million for the two-bedroom units. The prices for the penthouses are $2.4 million and $2.5 million. The estimated sell-out of the project is $78 million. Sales began in April and 25% of the units have been sold.

Among attributes of the project are its central location in North Beach, close to Aventura, Bal Harbour shops and Lincoln Road. Another attribute is the views of the Biscayne Bay. “The views are a very strong asset of the project because we have striking views of the Miami skyline,” DeNunez says.

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?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

 

GlobeSt

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 © 2024 ALM Global, LLC. All Rights Reserved.