Related Group and BH Group launched sales of their planned condo tower in Hollywood, across the street from the Diplomat Beach Resort.
The developers and frequent partners plan the 37-story, 350-unit Icon Beach Residences at 3210-3690 South Ocean Drive, a press release shows. The news comes on the heels of their sales launch for the planned Ritz-Carlton Residences, West Palm Beach, a 28-story, 144-unit project with prices starting at $2.5 million.
Coconut Grove-based Related, led by Jorge Pérez and his sons Jon Paul and Nick, and Aventura-based BH, helmed by Isaac Toledano and Liat Toledano, won approval for Icon Beach as well as a 500-key hotel in August.
Units in Icon Beach will range from one- to three-bedrooms, with 950 square feet to 2,600 square feet, the release shows. Prices will range from $825,000 to $2.8 million. Gil Dezer’s Dezer Platinum Realty is marketing the project, according to the release.
Related and BH bought the development site, which fronts the Intracoastal Waterway, for $30 million in August. The site is directly across the street from the Diplomat, and the developers are striking a deal with the hotel to offer buyers beach access and services there, Related SVP Eric Fordin confirmed.
Amenities in the building will include a marina, fitness center, spa facilities, a pool and outdoor theater, the release shows. The tower will also have art from Pérez’s contemporary art collection.
Fordin said he anticipates the total sellout of the building will reach $650 million to $700 million. The project’s target buyers are primarily domestic, but he said the firms have also seen a lot of interest from Canadians, a growing demographic in South Florida’s luxury market.
Earlier this month, Related and BH won approval to build the 500-key hotel on a site also across the street from the Diplomat Beach Resort. Related and BH paid $21.5 million in December to acquire the 4.4-acre site at 3451-3690 South Ocean Drive. The planned hotel project will also have condo-hotel units for sale with hotel services, a BH spokesperson had said.
Other Related-BH projects include the planned 26-story Icon Aventura, which will have 275 condos and 20 apartments. The developers have also partnered on the Transit Village development in West Palm Beach, and the ultra-luxury Six Fisher Island condo project on Fisher Island.