Witkoff, Blavatnik & Scher Launch Sales at Ocean Terrace, $6.3M+ Oceanfront Condos in North Miami Beach

Key Points:

• Sales have officially launched at Ocean Terrace, a major oceanfront mixed-use development in North Beach, Miami Beach, led by Witkoff Group and Ocean Terrace Holdings (Alex Blavatnik & Sandor Scher).

• The project features 52 private condos, 24 resort residences, a boutique hotel, a private members’ club, and retail, all along 350 feet of beachfront with a five-acre Raymond Jungles-designed park.

• Prices start at $6.3 million with completion expected in 2029. 

Witkoff and partners have kicked off sales for one of Miami Beach’s most anticipated oceanfront projects: Ocean Terrace in North Beach. With timeless design by Robert A.M. Stern Architects (RAMSA) and full ocean frontage, the development is poised to redefine Miami’s luxury coastline. 

Project Overview: What’s Being Built

Located between 74th and 75th Streets, Ocean Terrace offers 350 feet of direct ocean frontage in the quieter North Beach district. The development includes 52 private residences, 24 resort-style homes, 42 luxury hotel suites, curated ground-floor retail, and an exclusive members’ club.

Architecture is by Revuelta International, interiors by RAMSA, and landscape design by Enzo Enea, with a public park crafted by Raymond Jungles. Units range from one to five bedrooms, with fully furnished resort residences and penthouses. Every home includes Parquet de Versailles oak flooring, RAMSA-designed cabinetry, natural stone finishes, Gaggenau appliances, and private elevators.

Amenities span more than 18,000 square feet indoors (fitness center, library, tea room) and 50,000 square feet outdoors (sunrise and sunset pools, cabanas, motor court). The five-acre park is open to the public and features art by Parisian sculptor Prune Nourry.

Market & Investment Context

The ultra-luxury condo sector in Miami continues to attract global capital, and Ocean Terrace stands out for combining world-class design with beachfront scarcity. 

With starting prices above $6 million, these units are trophy assets for buyers seeking exclusivity and potential appreciation. The mix of resort residences, hotel, and club adds optionality for owners who value flexibility or hospitality-driven income potential.

For landlords, North Beach’s repositioning could lift rental rates as new luxury inventory raises neighborhood appeal. Older oceanfront assets nearby may see rising values as the area transforms into a high-end residential and retail corridor.

Risks & Considerations

Delivery isn’t expected until 2029, so investors face holding and interest-rate risk. Liquidity may also be limited at this price tier, though Witkoff’s track record and RAMSA’s design pedigree help offset long-term value concerns.

Impact on North Beach & Miami Beach

Ocean Terrace strengthens North Beach’s evolution from quiet residential to luxury destination. The combination of 350 feet of ocean frontage, high-design architecture, and public green space elevates the district’s market profile.

For brokers and landlords, the bar has been raised — future developments will need comparable amenities, architecture, and branding to compete.

A Beachfront Play

Ocean Terrace marks a defining moment for Miami Beach luxury real estate — a high-design, limited-frontage project that blends lifestyle, exclusivity, and long-term value. With strong presales and world-class partners, this is a beachfront play that investors and landlords will be watching closely.