noticias
Related Group, Dezer, and BH Group have under contract an old beachfront condominium for $140 million.
Apr 8, 2025
The team formed by Related Group, Dezer Development, and BH Group has signed a contract to acquire an oceanfront condominium in Sunny Isles Beach for $140 million, according to a source familiar with the agreement.
The developers are seeking to buy and dismantle the Miami Beach Club hotel/condominium, which has 108 units, located at 19051 Collins Ave. According to the source, the closing of the deal is expected this summer.
The developers could not be reached for comment.
The building was constructed in 1951 on a two-acre lot, making it one of the oldest condominiums still standing in the city. The building has only two floors, but many of the newer condominium towers in Sunny Isles Beach exceed 50 floors.
It is located north of Residences by Armani Casa, which was built by Related Group and Dezer.
Many older condominiums in the coastal areas of Miami-Dade County have been bought and dismantled because the land value exceeds that of the buildings, and there is strong demand for new luxury condominiums.
Since then, Dezer has begun construction on a Bentley-branded condominium in Sunny Isles Beach.
Related Group and BH Group have collaborated on multiple condominium projects, including in Aventura and Fisher Island.