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Multiplan Secures $30 Million for Oceanfront Luxury Condos in Surfside
In a significant boost for Florida's luxury real estate market, Multiplan Real Estate Asset Management has secured a $30 million construction loan from Bradesco Bank for its Ocean House condo project in Surfside. This 12-story building is poised to set a new standard in upscale living, with 25 units designed by esteemed architect Bernardo Fort-Brescia of Arquitectonica. The project is not just about luxury; it represents a transformation of a historic site once home to the Regent Palace complex, now reshaped by the need for modern safety standards following the Champlain Towers tragedy.
High Stakes in Florida's Luxury Real Estate Market
The Ocean House project features units priced starting at $5.1 million, with an anticipated sellout exceeding $300 million. Multiplan's managing partner, Marcelo Kingston, revealed that the penthouse alone could list between $50 million and $60 million. This ambition to redefine luxury housing echoes trends in the southern Florida market, where demand for high-end residences continues to surge despite past tragedies. Nearby, Damac Properties is also vying for luxury buyers with its Delmore project, which started sales at $15 million per unit.
The Vision and Future of Ocean House
The Ocean House promises state-of-the-art amenities including a rooftop pool and fitness center, aimed at attracting wealthy buyers seeking both comfort and exclusivity. With construction slated for completion in 2028, potential homeowners can look forward to lavish living in a neighborhood despite its tumultuous past. The expectation is not just for homes but for a community that symbolizes resilience and luxury.
Bridging the Past and the Future
The site has been at the center of development discussions since the unfortunate impact of the Champlain Towers collapse. Multiplan capitalizes on this moment by offering a fresh, secure living environment that contributes to the revival of Surfside’s coastal appeal. The choice to repurpose an area previously associated with danger into a symbol of luxury living showcases how real estate can adapt and evolve in response to community needs.
As Florida homeowners and prospective buyers keep a close eye on these trends, the Ocean House not only represents another luxury option but also contributes to the ongoing narrative of recovery and renewal in the face of adversity.
Explore Oceanfront Living in Surfside
If you're considering investing in Florida's booming luxury real estate market, the Ocean House could be your next great opportunity. With its blend of architectural elegance and prime beachfront location, it's worth following as construction progresses.
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