The Shore Club Residences in Miami Beach Lands $430M Construction Loan

 
In a groundbreaking deal, The Shore Club Residences at 1901 Collins Avenue in Miami Beach has landed an incredibly difficult construction loan for their new waterfront super-luxury tower.

The financing is provided by JPMorgan, according to a press release, and is valued at $430 million based upon developer reputations, buyer liquidity and sales.

This is monumental as construction loans are incredibly tricky, especially as economy confidence wanes. This is further proof Miami’s unique blend of waterfront properties with superior designs and offerings, sweeping views and the lifestyle of luxury remains in-demand with the global elite.

Rendering of The Shore Club Residences Terrace View

Rendering of The Shore Club Residences Terrace View

With two thirds of the residences already in contract since sales began in early 2023, the 18-story development will be part of the Auberge Collection. Each of the 49 residences is completely unique. In the Shore Club Private Collection, there will be 44 condominium units along with a boutique hotel.

Four of the properties are also one-of-a-kind as they are situated in the nearby Cromwell House and one is a more private stand-alone beach house.

The 1939-built home whose complete renovation is also designed by RAMSA (Robert A.M. Stern Architecture) in collaboration with Miami-Based Kobi Karp Architecture. The remaining two will be penthouses, with details coming soon.

Prices are placed between $6M-$40M and average at $20M. This works out to $5,000-per-foot, which will solidify buyers’ position in the new Billionaire’s Row of Miami Beach.

Douglas Elliman is the exclusive broker for The Shore Club Private Collection. If you are interested in an invitation to consider this project, please contact Michael Light, Broker and Executive Director of Luxury Sales at Douglas Elliman. You may reach Michael directly at (786) 566-1700 or via email at michael@miamiluxuryhomes.com

Image credit: The Boundary
Rendering of Shore Club Private Residences Miami Beach Architecture

Rendering of Shore Club Private Residences Miami Beach Architecture

Rendering of Shore Club Private Residences Miami Beach Collins

Rendering of Shore Club Private Residences Miami Beach Collins

Rendering of Shore Club Private Residences Miami Beach

Rendering of Shore Club Private Residences Miami Beach

Rendering of Shore Club Private Residences Miami Beach Location

Rendering of Shore Club Private Residences Miami Beach Location

Rendering of The Shore Club Residences Kitchen

Rendering of The Shore Club Residences Kitchen

Rendering of Shore Club Private Residences Miami Beach Kitchen

Rendering of Shore Club Private Residences Miami Beach Kitchen

Rendering of The Shore Club Residences Primary Bathroom

Rendering of The Shore Club Residences Primary Bathroom

Historic Redevelopment Done Right: Inside The Shore Club Private Collection

 
Just as Miami Beach is all about new beginnings, overcoming obstacles, and endless possibility, Robert A.M. Stern is envisioning a new era for The Shore Club at 1901 Collins Avenue. This new redevelopment will fuse together projects from three different eras of Miami Beach history.

Beginning in 1939, an art deco style hotel dubbed The Cromwell was constructed, appealing to early snowbirds. This hotel has been renovated several times throughout the years and after this refurbishment will house many of the hotel rooms and some of the residences will be located on the upper floors. The Cromwell was utilized during World War II as an Army training command site, then renovated in 1949 when The Shore Club was constructed in the MiMo-style architecture that was becoming increasingly popular at the time. During the 1950’s and 60’s, the pool was so popular that it became a gathering spot for professional swimmers, local historian Seth Bramson told Mansion Global.

Rendering of Shore Club Private Residences Miami Beach Collins

Rendering of Shore Club Private Collection Miami Beach Collins

The project lived out its heyday through the MiMo era before falling into disrepair during the Miami Vice days of South Florida. In the early 2000’s it was refurbished once more and ushered in a new era of celebrity sightings. The addition of Nobu, a trendy celebrity hotspot partially owned by Robert DeNiro attracted the likes of Madonna, Jennifer Lopez and Will Smith along with other A-listers who made this era of Miami Beach iconic.

Fast forward to the post-COVID era and Miami Beach has matured, but in a positive light. A 200-foot glass tower reminiscent of a private mega yacht will rise on the 3-acre oceanfront site, housing a handful of ultra-private and exclusive residences for the defined taste of today’s high-profile Miami Beach residents. The tranquil color palettes include plenty of dune, coral and sky tones and the layouts are larger than traditional Miami Beach residences, offering more storage.

In the “Art Basel Era,” as mayor Dan Gelber refers to it, The Shore Club Private Collection is set to include a five-star oceanfront resort managed by Auberge Resorts as well as 49 private residences with one of the new residences being a 6,000 square foot oceanfront mansion. No two residences in the private collection will be exactly alike but will range in size from 2,400 square feet up to 7,000 square feet. Prices are set to start at $5 million and rise to a rumored $35 million for the 10,500 square foot penthouse with an additional 7,500 square feet of outdoor space including a rooftop private swimming pool.

Rendering of Shore Club Private Residences Miami Beach Architecture

Rendering of Shore Club Private Collection Miami Beach Architecture

Just as Miami Beach is known for obstacles and boom/bust real estate cycles, The Shore Club has not moved forward without challenges and opposition. The Nakash family, who owns the neighboring Setai South Beach, is highly unimpressed and pursuing legal action in effort to block the project. The Nakashes, of Jordache Jeans fame, has invested millions upon millions of dollars in South Beach, buying up aging hotels for renovation. They have successfully re-launched Gianni Versace’s Casa Casuarina, the Hotel Victor, Breakwater Hotel, and Hotel Edison among others.

The developers are also fighting a lawsuit by a former partner in the project who alleges being illegally cut out of the ownership through a “crooked and secretive land grab.” The partner, tied to the family of the late newspaper publisher and businessman Stephen Carlton Clark, is requesting $125 million in damages. A spokesman for The Shore Club Private Collection called the allegations “unfounded” and said the company was “highly confident” the suit would be dismissed. An attorney for the Clark partner didn’t respond to Mansion Global’s request for comment.

This opposition is not slowing down the progress at The Shore Club. The Witkoff Group and its partner, Monroe Capital are moving forward with full approval from the City of Miami Beach and their design from Robert A.M. Stern in collaboration with Kobi Karp Architecture & Interior Design. Scroll below to see a preview of their designs through just-released renderings.

Douglas Elliman is the exclusive broker for The Shore Club Private Collection. If you are interested in an invitation to consider this project, please contact Michael Light, Broker and Executive Director of Luxury Sales at Douglas Elliman. You may reach Michael directly at (786) 566-1700 or via email at michael@miamiluxuryhomes.com

 

Rendering of Shore Club Private Residences Miami Beach Balcony Beach

Rendering of Shore Club Private Collection Miami Beach Balcony

Rendering of Shore Club Private Residences Miami Beach Balcony Sunrise

Rendering of Shore Club Private Collection Miami Beach Balcony Sunrise

Rendering of Shore Club Private Residences Miami Beach Balcony Depth

Rendering of Shore Club Private Collection Miami Beach Balcony Depth

Rendering of Shore Club Private Residences Miami Beach Primary Bath

Rendering of Shore Club Private Collection Miami Beach Primary Bath

Rendering of Shore Club Private Residences Miami Beach Kitchen

Rendering of Shore Club Private Residences Miami Beach Kitchen

Rendering of Shore Club Private Residences Miami Beach Valet

Rendering of Shore Club Private Residences Miami Beach Valet

Rendering of Shore Club Private Residences Miami Beach Pool Area

Rendering of Shore Club Private Residences Miami Beach Pool Area

List of Exclusive Douglas Elliman Luxury Pre-Construction Condo Developments

 
Douglas Elliman, the leading luxury real estate firm in the country, is the exclusive broker for many of the ultra-luxury, pre-construction condo developments in South Florida. Specifically, Douglas Elliman exclusively represents Park Grove, the most prestigious development in Coconut Grove, and One River Point along the Miami River in Brickell. Our Miami Beach developments include The Residences at The Miami Beach EDITIONFasano Hotel & Residences at Shore Club, Faena HouseFaena Versailles ContemporaryFaena Versailles Classic and The Penthouse Residences at 1 Hotel & Homes.

Although all of the projects are absolutely amazing, Eighty Seven Park is my personal favorite! Eighty Seven Park, Renzo Piano’s first residential development in the United States, is a boutique museum-quality building situated oceanfront on the beautiful white sandy beach and also situated on a 35-acre park with stunning expansive ocean views from all residences.

DOWNLOAD: Douglas Elliman South Florida Pre-Construction Condo Developments

If you, or someone you know, are interested in purchasing a luxury condo residence at any of the exclusive Douglas Elliman developments in South Florida, please contact Michael Light, Director of Luxury Sales with Douglas Elliman, at (786) 566-1700 or by email at michael@miamiluxuryhomes.com.

Iconic Shore Club to Reopen in 2017 as Fasano Hotel & Residences at Shore Club

 
The iconic Shore Club in the heart of South Beach will reopen in 2017 as Fasano Hotel & Residences at Shore Club.

HFZ Capital Group, a New York based development company, acquired the Shore Club for $175,300,000 in December of 2013 and is transforming the historic hotel into a luxury hotel and residential oasis. HFZ Capital Group has replaced the Morgans Hotel Group with Brazil’s premier hotel group, Fasano, to provide world-class, 5-star services and amenities to guests and residents.

Fasano Hotel & Residences at Shore Club will be redefined to include a new modern appearance beautifully designed by acclaimed Brazilian architect Isay Weinfeld and will consist of 100 hotel suites and 75 luxury oceanfront residences distributed in 4 different structures. The South Tower will consist of only hotel rooms, the Central Tower will stand 20 stories and will include 43 luxury condos, the North Tower will stand 8 stories and offer 27 luxury condos and the Beach House will include 5 exclusive 2-level condos.

Residences at Shore Club will offer luxury condos with expansive layouts offering 1-4 bedrooms ranging from 800 to 4,000 square feet. Shore Club residences will feature contemporary designs by celebrated Isay Weinfeld complimented with designer finishes including European Oak and Calcutta marble, Gaggenau appliances and Bulthaup kitchen fixtures. Shore Club units will boast expansive terraces with stunning views of the Atlantic Ocean.

Fasano Hotel & Residences at Shore Club

Fasano Hotel & Residences at Shore Club

Residents of the Shore Club are certain to enjoy the 5-star hotel amenities and services including an oceanfront swimming pool, private cabanas, pool and cabana services, state-of-the-art fitness center and spa, on-site dining and 24-hour concierge and valet services.

If you, or someone you know, would like an exclusive presentation of the Residences at Shore Club, please contact Michael Light. You may reach me at my office at (305) 350-9842, on my cell at (786) 566-1700 or via email at michael@miamiluxuryhomes.com.

Download Fasano Hotel & Residences at Shore Club Brochure

Fasano Hotel & Residences at Shore Club Overview

  • Developer: HFZ Capital Group
  • Architect & Interior Designer: Isay Weinfeld
  • Landscape Architect: Enzo Enea
  • Hotel Operator: Fasano (5-Star)
  • Location: 1901 Collins Avenue, Miami Beach, Florida 33139
  • 100 Hotel Suites & 75 Oceanfront Luxury Condos

Fasano Hotel & Residences at Shore Club Deposit Structure

  • 10% of Purchase Price at Reservation
  • 10% of Purchase Price at Contract
  • 10% of Purchase Price 90 Days After Contract
  • 10% of Purchase Price 180 Days After Contract
  • 10% of Purchase Price 270 Days After Contract

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