The sellout has reached $386.4 million at Fort Partners\u2019 recently completed condo building in its sprawling beachfront Surf Club complex.<\/p>\n
Seaway North, at 9165 Collins Avenue in Surfside, has just 10 units and an average sale price of $38.6 million. While no one unit has set a market-wide price record, the average price across the building is unparalleled in any other new development in Miami-Dade County.<\/p>\n
The Surf Club is garnering some of the highest prices per square foot in the South Florida condo market, with demand fueled by \u201cit-building\u201d status and a wealth migration<\/a> to the region boosting ultraluxury sales. Brokers credit Seaway North\u2019s pricing feat to Fort Partners\u2019 collaboration with the Four Seasons brand, their execution of luxury finishes and the boutique nature of the project.<\/p>\n \u201cEverything and anything at the Surf Club is considered to be best in class,\u201d said Douglas Elliman\u2019s top agent, Dina Goldentayer. \u201cThey can do no wrong.\u201d<\/p>\n Seaway North is the latest installment at Fort Partners\u2019 Surf Club, the redevelopment of a beachfront strip in Surfside that began with the Four Seasons Residences at the Surf Club. Ashi\u2019s Fort Lauderdale-based Fort Partners, led by Nadim Ashi, completed the original two-tower Surf Club condos in 2017. Designed by Pritzker Prize winner Richard Meier and Miami architect Kobi Karp, it has 150 condos, a 72-key hotel, four pools and a Thomas Keller restaurant.<\/p>\n Since then, Ashi has added the 26-unit, 11-story Seaway South, which was completed in 2024 and designed by architect Joseph Dirand. A hidden buyer dropped a record $86 million<\/a> on a penthouse in Seaway South in November, making it the most expensive condo ever sold in Miami-Dade County.<\/p>\n Ashi is also planning the 11-story, 17-unit Surf House at 8955 Collins Avenue. He bought the site from developer Jason Halpern for $60 million<\/a> in 2024, and secured a $110.7 million construction loan<\/a> for the project later that year.<\/p>\n Seaway South, Seaway North and Surf House residents all have access to the amenities at the Surf Club, in what brokers have described as a luxury \u201cecosystem\u201d that checks all the boxes for South Florida\u2019s ultra rich buyers. The price of the unit is merely the cost of entry \u2013\u2013\u00a0HOA dues for one Surf Club unit on the market asking $31.5 million are estimated at $20,157 per month.\u00a0<\/p>\n The Surf Club\u2019s prestige is also part of the appeal, brokers said.<\/p>\n \u201cIt\u2019s almost similar to 220 Central Park South<\/a> or 80 Clarkson<\/a>,\u201d said Elliman\u2019s Ruthie Assouline. \u201cIt\u2019s like that club where they want to be there, there\u2019s a certain cach\u00e9 to it.\u201d<\/p>\n The Surf Club condos have attracted a wide swath of high-profile residents over the years, something agents say has made it a magnet for more big names.<\/p>\n Former Starbucks CEO Howard Schultz paid $44 million<\/a> for a 5,500-square-foot penthouse in the Surf Club\u2019s north tower in March. New York real estate developer Richard Cohen dropped $20.5 million<\/a> on a 4,600-square-foot unit last month. Last year, freshly minted billionaire Daniel Nadler, the founder of an AI platform for medical research, bought a Surf Club penthouse for $38.2 million<\/a>.<\/p>\n \u201cIt\u2019s bringing and attracting the biggest buyers,\u201d said Eric Johnson with One Sotheby\u2019s International Realty. He described it as an unstuffy, clubby atmosphere where residents enjoy mingling with each other. \u201cIt\u2019s good for business, it\u2019s good for your social life.\u201d<\/p>\n In the case of Seaway North, the who\u2019s-who buying units have shielded their identities with LLCs and trusts. Here\u2019s a look at the recorded deals in the building:<\/p>\n Marinus Limited bought the 8,700-square-foot PH 10 for $64.5 million, or $7,414 per square foot. Condo documents show the unit spans two stories and includes a private pool.<\/p>\n Hillcrest 901 Trust bought the 7,900-square-foot PH 9 for $41 million, or $5,190 per square foot.<\/p>\n 801 SC North Trust dropped $40 million, or $5,063 per square foot, on the 7,900-square-foot unit 801.<\/p>\n Fana Surf Club LLC paid $39 million, or $4,875 per square foot, for the 8,000-square-foot unit 701.<\/p>\n Mazalmint Property LLC bought unit 601 for $41.2 million, or about $5,150 per square foot for the pad spanning 8,000 square feet.<\/p>\n Surfside Trip 1963 dropped $37 million, or $4,625 per square foot, on unit 501, which has 8,000 square feet.\u00a0<\/p>\n Blue Water 92 LLC shelled out $40 million, or $5,889 per square foot, for the 7,900-square-foot unit 401.\u00a0<\/p>\n 527 Main Street LLC paid $31.8 million, or $5,889 per square foot, for the 5,400-square-foot unit 301, and another $1.7 million, or $3,935 per square foot, for a 432-square-foot caretaker\u2019s unit.<\/p>\n 9165 Collins Trust dropped $44.2 million, or $4,804 per square foot, on the 9,200-square-foot Beach Villa and another $6 million, or $4,615 per square foot) on the 1,300-square-foot unit 304.\u00a0<\/p>\n Some Seaway North buyers are upsizing from units in the first Surf Club towers, brokers said.\u00a0<\/p>\n The prices in the building are eye-popping but likely on the way up, Goldentayer said.\u00a0<\/p>\n \u201cI\u2019m excited to see what the resales will look like there,\u201d she said. \u201cThe sales you\u2019re seeing, they seem high, but a lot of those were contracted two years ago.\u201d<\/p>\n Demand is high and supply is low, even with Fort Partners\u2019 pipeline of additional buildings in the Surf Club complex, Assouline said. She has a client looking for a Seaway unit, but there\u2019s nothing available.<\/p>\n \u201cIf I found an 8,000-square-foot unit in Seaway South, he would pull the trigger today,\u201d she said.\u00a0<\/p>\n The limited inventory, coupled with pocket listings at make-me-move numbers, are driving prices even higher for the Surf Club and Seaway units. Goldentayer predicted that $6,000 per square foot would soon be the norm within the complex.<\/p>\n \u201cThere is no ceiling at the Surf Club,\u201d she said.<\/p>\n","protected":false},"excerpt":{"rendered":"The sellout has reached $386.4 million at Fort Partners\u2019 recently completed condo building in its sprawling beachfront Surf…\n","protected":false},"author":2,"featured_media":262187,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[123,125,124,113145],"class_list":["post-262186","post","type-post","status-publish","format-standard","has-post-thumbnail","category-miami","tag-miami","tag-miami-headlines","tag-miami-news","tag-nadim-ashi-seaway-north"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/262186","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=262186"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/262186\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/262187"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=262186"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=262186"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=262186"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}