Powerhouse Related-Dezer‑BH JV Snags One of Sunny Isles’ Last Oceanfront Parcels for Ultra‑Luxury High‑Rise

Key Points

• $130M land deal: Related Group, Dezer and BH Group acquire the site at 19051 Collins Avenue, one of the last oceanfront development-ready parcels in Sunny Isles.

• $87.5M financing ups the ante: Berkadia, via JPMorgan, arranged pre-development funds to secure acquisition, demolition and early construction.

• Next-gen luxury: Plans call for ~150 branded ultra-luxury condos, building on the success of neighboring towers by Armani/Casa, Porsche and Bentley developers.

A major partnership was just established in Sunny Isles; a joint venture of Related Group, Dezer Development and BH Group. The JV closed on the Miami Beach Club property for $130 million — with backing from Berkadia’s $87.5 million pre-development loan. This deal not only secures one of the last pristine oceanfront sites but sets the stage for a new ultra-luxury tower designed to be on par with neighbors such as Armani/Casa, Porsche Design and Bentley Residences. 

The Final Stretch of Oceanfront Opportunity

• Located across from Residences by Armani/Casa (built by Related/Dezer), and neighboring Porsche and Bentley condos, this two-acre site at 19051 Collins Avenue has had nothing new built since 1951.

• With the aging Miami Beach Club structure now acquired, all that remains is demolition and groundbreaking — marking a rare oceanfront opportunity in southern Florida.

The Bold Backing Behind the Bold Move

• Berkadia’s South Florida team secured $87.5M in pre-development financing through JPMorgan to support a swift unit buyout, demolition, and early construction phases.

• The JV partners emphasized that this is a “generational opportunity to shape the final stretch of Sunny Isles’ oceanfront” with amenities that reflect “evolving expectations of today’s luxury buyer.”

Elevating Skyline and Standards

• The new tower is slated to deliver approximately 150 branded ultra-luxury condominiums, ensuring a match for the high bar set by nearby branded developments like Armani/Casa, Porsche and Bentley.

• It will add architectural volume to an already dense luxury pocket, reinforcing Sunny Isles’ reputation as a global investment hotspot and lifestyle destination.

A Powerhouse Partnership

• Related Group, Florida’s leading developer, holds a $40B+ portfolio and has built over 120,000 condos since 1979.

• Dezer Development, known for landmark projects in NYC, Florida and Vegas, brings experience with branded luxury, including Porsche Design Tower and Armani/Casa.

• BH Group, a strong Miami-based partner with 20 years of luxury development expertise, completes the JV’s deep regional and operational synergy.

• Berkadia’s role provides not just financing but institutional credibility, aligning capital markets with premium development.

Why It Matters for Investors & Landlords

• Scarcity Breeds Value: With nearly no oceanfront sites left, this project’s location adds premium rarity to the marketplace — a core driver of future appreciation.

• Branded Premiums Inflate Pricing: The condo’s branded status, combined with benchmark amenities, positions it to command well above standard luxury pricing.

• Rising Construction Costs and Finance: Securing nearly 70% of project cost via pre-development finance lowers risk and illustrates strong lender confidence — a model more developers may follow with rising build costs.

This mega JV purchase in Sunny Isles Beach signals a new era of branded ultra-luxury in the corridor between Armani/Casa and Porsche/Bentley towers. Between the cache of coastal scarcity and a $150-unit, full-service design offering, this project represents a high-stakes bet on continued investor demand and pricing power in South Florida's trophy condo market.