Israel based ASRR Capital and the Suzer Group, a Turkey based LLC, have acquired a 41 tower unit and paid a staggering $40 million. Located at 8955 Collins Avenue the transaction took place off market and is located next to the Surf Club Four Seasons Hotel and Private Residences. Tenants will move within 30 days and in its place will be an 80 room hotel with beach club that will be a continuation of the Four Seasons development.

The building is zoned for 12 stories and will be complete in 2.5 years. Investors remarked that the acquisition made fiscal sense by relating Miami as a continuation of New York. Their entrance into the Miami real estate market is not the first nor the last, as many international interests are setting their sights on South Florida. New Developments in South Florida are so frequent they are often hard to keep track of and there is no shortage of preconstruction opportunities. If you are looking to purchase a preconstruction in Miami, contact Serge Kay today!

The Bay Harbor Islands have witnessed a marked rise in new developments in 2015, with 101 Bay Harbor Islands Townhomes among others and recently announced is Pearl House. Pearl House offers luxurious island living with residences between two and four bedroom configurations that offer indoor and outdoor living areas. Each residence is decorator ready and includes smart home technology. Penthouses have summer kitchens and private rooftop terraces.

Pearl House building amenities are the quintessential resort style living including private garden entry, residential designer lobby, two assigned and covered spaces per unit, electric car charging station, state of the art fitness center, and rooftop swimming pool. The Bay Harbor Islands are located conveniently near the Shoppes at Bal Harbour and Miami Beach, in addition to the Miami International Airport. Pearl House was just announced and preconstruction properties will likely be selling soon. For more information contact Serge Kay today!