Sunny Isles Beach OKs 62-Story, $351M Oceanfront Condo Tower by Related Group

Related Group-Led Team Greenlit for $351M Sunny Isles Beach Condo Venture
CRE Market Beat Take
Entitlement approval for a $351 million oceanfront tower backed by a Related-led JV underscores ongoing capital support for luxury condo redevelopment in Sunny Isles Beach and the high land values driving replacement of older residential stock.

A 62-story oceanfront condominium tower has received approval from the Sunny Isles Beach City Commission, advancing a major luxury residential project at 19051 Collins Avenue in Sunny Isles Beach. The development is planned to rise on a roughly 2-acre oceanfront parcel and is positioned to become the tallest building in Sunny Isles Beach once completed.

The project is being led by The Related Group, which is developing the tower in partnership with Dezer Development and BH Group. Plans call for a total of 145 luxury condominium residences, targeting the upper end of the for-sale residential market in this oceanfront corridor.

The site is currently occupied by the Miami Beach Club, a two-story residential building that was completed in 1951 and contains 108 units. Redevelopment of this older property into a high-rise luxury condominium tower reflects an ongoing shift in land use intensity along the Sunny Isles Beach waterfront.

According to the plans, residences in the new tower will range from three to six bedrooms, with full-floor penthouses at the top levels. The building is designed to appeal to large-unit buyers seeking oceanfront space, and the full-floor penthouse offerings indicate a focus on ultra-luxury product at the uppermost stories.

Total development costs for the project are projected at $351 million, following a land acquisition totaling $131.8 million. These figures underscore the significant capital commitment required to reposition the existing mid-century residential property into a new high-rise luxury condominium asset.

Cohen Freedman Encinosa & Associates Architects has been selected to handle design for the tower. Planned amenities include multiple pools, an outdoor spa, private cabanas, a padel court and direct beach access, all intended to support resort-style living for future residents on this oceanfront site.

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