Fortune International Group and Château Group launched sales of the north tower in their planned oceanfront St. Regis Residences, Sunny Isles Beach.
It marks the second phase for Fortune and Château’s planned two-tower condo project at 18801 Collins Avenue. The developers kicked off sales for the project’s south tower in 2022, which is now 80 percent presold, according to a press release. Fortune, helmed by president and CEO Edgardo Defortuna, and Château, led by CEO Manuel Grosskopf, previously partnered on the Ritz-Carlton Residences, Sunny Isles Beach, which they completed in 2020.
Construction began in August on the St Regis, but they are aiming to complete both towers in May 2027, Defortuna and Grosskopf confirmed.
“It’s significantly more attractive to have both towers going up at the same time and delivering close to each other,” Defortuna said, also noting that coordinating construction in tandem will save on costs.
The 62-story north tower will have 170 units, with two-, three-, four- and five-bedroom floor plans ranging from 1,800 square feet to 5,500 square feet, the release shows. Defortuna said they designed the units in the north tower to be larger, based on feedback from buyers in the south tower. Fortune and Château are upping the prices for the north tower units, which will range between $4.5 million and $15 million. Units at the 62-story, 180-unit south tower started at $3 million when sales launched.
Miami-based Arquitectonica designed both towers, with São Paulo-based Patricia Anastassiadis handling interiors and Fort Lauderdale-based EDSA leading landscape design. Amenities will include pickleball and padel courts, a fitness center, pool, and clubs for kids and teens. The project will also have a private beach club, three ocean-facing pools, a residents club, and another club space with a cognac room, wine bar and gaming rooms, according to the release.
Kid-oriented amenities are increasingly important, Defortuna said.
“People are spending a lot more time down here in South Florida,” he said.
The developers estimate the total sellout for St. Regis Residences will be $3 billion, the release shows. Presales for the south tower include the $55 million penthouse, which is now under contract, according to the release. The developers have not released pricing for the north tower’s penthouse, but confirmed it will be more expensive than the south tower’s.
The majority of the project’s buyers have been from the U.S., according to Grosskopf.
“We have about 65 percent American buyers,” he said. “American interest is becoming stronger and stronger every year.”
The developers also noted that buyers have come from South America and Europe, which they expect to continue.
Other condo projects planned for Sunny Isles Beach include Gil Dezer’s Bentley-branded 62-story, 216-unit tower. Last month, Related Group closed on a Sunny Isles condo buyout for $145 million, with plans to build a new luxury condo tower on the site.