5445 collins avenue, miami beach, florida

EXECUTIVE SUMMARY

Extremely rare 4-acre offering in the Miami Beach Market with 576 Linear feet of World-Class Ocean Frontage on the Atlantic Ocean.

Colliers, as exclusive listing broker, is pleased to present the once-in-a-lifetime opportunity to acquire the Castle Beach Club in Miami Beach, a true beachfront development opportunity located at 5445 Collins Avenue in Miami Beach.

The property is comprised of an existing condominium building that sits on a 3.98- acre beachfront parcel with 576 linear feet of frontage on Miami Beach’s world-class white sand beach.

The setting of the Castle Beach Club on Collins Avenue and the very rarely available central Miami Beach location, truly make this a rare offering in the market. Miami Beach continues to evolve into a global destination, attracting not only extremely wealthy individuals, but also the most prominent financial and technology companies in the world. The Castle Beach club is located in the midst of the city’s growth with close proximity to the area’s most prominent hotels, condo buildings, restaurants, and golf courses.

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OVERVIEW

Unparalleled and central location with proximity to Miami Beach’s top points of interest

Address

5445 Collins Avenue, Miami Beach, FL 33140

Land Size

+/- 3.98 Acres (+/- 173,401 SF)

Water Frontage

576’

Zoning

RM-3

Density/FAR/Max Height

150 Units per Acre / 3.0 FAR / 200 Feet

Asking Price

To be determined by the market

INVESTMENT HIGHLIGHTS

​​​​​​​​​​​​​​Rare Large-Scale Miami Beach Site

The Castle Beach Club is an extremely unique offering in the marketplace. It represents the rare opportunity to acquire and redevelop a multi-acre oceanfront property directly on Collins Avenue. The site allows a developer to create an iconic and globally recognized building that will change the history and skyline of Miami Beach. The site’s 576 linear feet of beachfront, will provide a highly sought after amenity for future residents of the building.

Miami Beach's emergence as a World-Class Destination ​​​​​​​

Miami Beach continues to evolve into a global destination, attracting not only extremely wealthy individuals, but also the most prominent financial and technology companies in the world. The tropical year-round weather, business friendly and low-tax environment and vibrant social scene, have attracted many people from this affluent demographic not only domestically but also internationally. The Castle Beach club is located in the midst of the city’s growth with close proximity to not only the area’s historic properties such as the Fontainebleau, the Faena District, La Gorce Island, the Bath Club and Surfside among others, but also the new developments such as 5700 Ocean, Four Seasons Surfside and Eighty Seven Park.

Escalating Pricing and Demand for Luxury Condos

With the growing affluent population of the city, comes great demand for ultraluxury real estate. Demand and pricing for multi-million dollar single-family homes and luxury condominiums has risen significantly with multiple record-breaking sales throughout the city. New luxury, oceanfront condominium developments in Miami Beach such as 5700 Ocean and Eighty Seven Park have seen sellout prices in excess of $3,000 per SF. The Penthouse at 5700 Ocean sold for $36m in September 2021. With 7,500 SF of interior space, the sale works out to $4,800 PSF. Prices in the market are expected to keep rising as new supply is low and population growth fuels the demand for more units.

OFFERING PROCEDURE

Offers should be submitted in the form of a standard non-binding Letter of Intent, which can be found on the Colliers International Document Center, and must specify the following:

  • Price (Call for pricing guidance)
  • Length of Inspection Period
  • Length of Closing Period
  • Amount of earnest money deposit at execution of a Purchase and Sale Contract
  • Amount of additional deposit upon expiration of Inspection Period
  • The Castle Beach Club’s broker of record is Colliers International, LLC. As a condition hereof and the Contract for Purchase and Sale thereto shall provide that the successful bidder/buyer will pay, at the time of closing, to Castle Beach Club's broker of record a brokerage commission of 1.0% of the sales price of the Property without setoff, credit or reduction in the sales proceeds paid to the Castle Beach Club Owners. If the successful Bidder / Buyer has retained a broker, there may be additional brokerage fees payable at closing.

INVESTMENT CONTACTS

Gerard Yetming

+1 786 517 4995

gerard.yetming@colliers.com

Kenneth M. Krasnow

+1 786 517 4990

ken.krasnow@colliers.com

Julian Zuniga

+1 786 547 0153

julian.zuniga@colliers.com

Brooke Berkowitz Mosier

+1 561 512 3488

brooke.berkowitz@colliers.com

Copyright © 2021 Colliers International. Information herein has been obtained from sources deemed reliable, however its accuracy cannot be guaranteed. The user is required to conduct their own due diligence and verification.

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