Florida YIMBY has an update regarding Ocean Terrace, a multi-family housing development we covered in 2021. Construction is set to start on the 20-story tower in Miami Beach next year. Per our report, it will be “unified” with the renovated historic Broadmoor and Ocean Surf properties.
Ocean Terrace is set to comprise 76 condos: 52 private residences and 24 fully furnished hotel suites. The one-bedroom to four-bedroom condos will measure about 1,740 to 3,740 square feet, with the smallest units priced at $6.3 million. Ocean Terrace would also feature 42 hotel rooms in a separate renovated space.
There would be more than 20,000 square feet of indoor and outdoor amenities. Image from the Boundary
In addition to the 350 feet of direct ocean frontage, residents and guests would have access to more than 20,000 square feet of indoor and outdoor amenities, with key features including a fitness center, two swimming pools, and library/tearoom.
Witkoff Group and Ocean Terrace Holdings are the two developers. Ocean Terrace Holdings has been involved with the project since its inception; Witkoff Group joined earlier this year after a multi-million-dollar refinancing deal. Revuelta Architecture International is the architect. Robert A.M. Stern Architects is operating as the interior designer.
Ocean Terrace is slated for part of a 2.2-acre site spanning 7409 to 7449 Collins Ave. and 7400 to 7450 Ocean Terrace, Miami Beach, Florida, 33141, in Miami-Dade County.
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