Oceanfront tower at Collins Avenue breaks ground

According to Miami Property Management, Fortune International Group and Château Group has broken ground on a new project at Collins Avenue. The ground breaking of the 52-story Ritz-Carlton residential tower was attended by Sunny Isles Beach Mayor George Scholl, Commissioner Jennifer Levin, Commissioner Dana Goldman, Commissioner Sergio Grosskopf of Château Group and lastly by Jeff Gouveia, the president of Suffolk Construction.
The residential tower at 1570 Collins Avenue will be built by Suffolk Construction and the project will be completed by 2018.
Mayor Scholl related that both Fortune International and Château Group are recognized as two of South Florida’s most established and highly regarded real estate leaders. He mentioned that the contributions of both companies to Sunny Isles Beach with this project is remarkable.
The impressive design of Ritz-Carlton Residences was designed by Arquitectonica while the interiors were created by Italian designer Michele Bönan. Units will range from 1,605 square feet to 3,640 square feet and have about 2-4 bedrooms. Prices start at 2.5 million per unit.
Representatives of Ritz- Carlton Residences stated that 65% of their units are under contract, including three penthouses. Last May, the condo’s top most penthouse was sold for $16.5 million. Representatives of Ritz –Carlton Residences are pleased that the sales have surpassed citywide sales.