South Florida Sunny Isles Beach Is Preparing For 530 new Luxury Units

The Miami Herald reports that Sunny Isles Beach appears to be the next condo boom in South Florida.

This photo of Sunny Isles Beach is courtesy of TripAdvisor

“It may be early in South Florida’s newest condo boom, but the modestly populated barrier island city of Sunny Isles Beach in Northeast Miami-Dade County is emerging as the epicenter of the region’s next vertical real estate cycle,” the paper reports.

“Developers are proceeding with at least six condo towers — nearly 15 percent of the more than 45 towers proposed for the tri-county South Florida region through July 2012 — with at least 530 luxury units to be constructed in a community that stretches less than 40 blocks along Collins Avenue. The potential growth in new condo towers does not stop there for the Sunny Isles Beach market.”

“The number of proposed new condo towers in Sunny Isles Beach is expected to increase in the upcoming months as developers have recently purchased an additional four condo sites that were previously approved for residential towers with more than 580 units. Additionally, an investment group has recently purchased the loan for a partially completed condo tower that is approved for 134 condo units and 140 hotel rooms, according to city of Sunny Isles Beach records.”

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