Miami Beach Oceanfront Development Opportunity Hits the Market

With development activity in Miami Beach on the rise as wealthy residents continue to move into the area, Castle Beach Club Condo Association has received several unsolicited offers to acquire its four acres of land with 576 linear feet of frontage of the world-renowned Miami Beach.

The condominium, located at 5445 Collins Avenue, has selected Colliers to market this opportunity.

Colliers South Florida Vice Chairman Ken Krasnow, Executive Managing Director Gerard Yetming, Director Brooke Berkowitz, and Senior Financial Analyst Julian Zuniga are handling the assignment on behalf of the Castle Beach Club Condo Association.

“Miami Beach continues to evolve into an internationally known, world-class, 24-hour destination, “ said Krasnow. “There is substantial demand in the marketplace for new developments and Castle Beach Club’s location offers unmatched connectivity and accessibility to all major South Beach attractions.”

Castle Beach Club is an existing condominium building built in 1966 that sits on a 3.98-acre beachfront parcel. This one-of-a-kind unprecedented land site offers a world-class development opportunity that will appeal to buyers from around the globe.

“Miami Beach continues to cement its reputation as a global destination, attracting extremely wealthy individuals and leaders of prominent financial and technology companies around the world,” said Yetming.

As land becomes increasingly scarce, opportunities for development on Miami Beach have become few relative to the heightened demand. Year-over-year condominium sales have posted an increase of 64% in Miami Beach with average price-per-square-foot of new-construction, oceanfront condos jumping 21% from 2019 to 2021. The Castle Beach Club site represents the rare opportunity for developers to build a project that would re-shape the Miami Beach Skyline.