![\"Exterior](\"https:\/\/www.newsbeep.com\/us-fl\/wp-content\/uploads\/2026\/06\/f583f092df5b33034e4c31e86f9b46c7.jpeg\")
Jeffrey Greenberg\/Universal Images Group via Getty Images <\/p>\n Jeffrey Greenberg\/Universal Images Group via Getty Images <\/p>\n
Surfside, Florida may only comprise a single square mile north of Miami Beach, but the town\u2019s reputation for its walkability and pristine white beaches has attracted an affluent community.<\/p>\n
So when the \u201cultra-luxury condo\u201d project The Delmore was announced in 2025, featuring sprawling 7,000 square foot residences and high-end amenities, one might have expected major demand (1).<\/p>\n
Must Read <\/p>\n
Instead, the developer hasn\u2019t yet sold a unit, construction has stalled and questions remain about whether building an ultra-luxury residence on the site of the deadly 2021 Champlain Towers South collapse was a mistake (2).<\/p>\n
\u201cAny development on this site will always carry a weight that goes beyond bricks and mortar,\u201d Surfside Mayor Shlomo Danzinger told Moneywise. \u201cIt is hallowed ground for the families who lost loved ones and for our entire community.\u201d<\/p>\n
Joelle Oiknine, a Miami real estate agent who sold a listing in the Champlain Towers South right before the collapse, told Moneywise that she believes the developer overlooked the \u201cprofound historical significance\u201d of the site.<\/p>\n
\u201cNearly everyone (in the community) knows someone who was killed in the Champlain Towers collapse and we all participated in the aftermath through search, rescue and volunteering efforts,\u201d she added, noting that a \u201cthoughtful, beautiful \u201c memorial could have helped with \u201cacknowledging the weight of this location and showing respect for the community.\u201d<\/p>\n
When a community\u2019s desire to remember meets a developer\u2019s desire to build <\/p>\n
A spokesperson for the developer told Moneywise that \u201cthe court-mandated sale ordered that no memorial component be included on the property itself\u201d in order to preserve its market value, and that the Delmore\u2019s development team \u201chas been an active, engaged, and good-faith participant in the memorial process since the moment the site was acquired\u201d \u2014 including committing $1.5 million toward infrastructure for a memorial near the site.<\/p>\n
That memorial, on 88th street, is also one that Mayor Danziner noted is a town priority, \u201cso that our residents, family members and survivors have a permanent place to reflect and remember.\u201d<\/p>\n
Still, the scars within the community following the condo tower tragedy run deep.<\/p>\n
The Champlain Towers South building collapsed in the early morning of June 24, 2021, killing 98 people. A National Institute of Standards and Technology report found the collapse likely began in the pool deck before progressing to the rest of the structure (3).<\/p>\n
In 2022, the Dubai-based luxury real estate firm Damac International\u2019s $120 million offer proved to be the only bid on the property, which it won for its $1.6 billion development (4).<\/p>\n
The Delmore, which Damac announced last year, will boast 37 mansions over 12 floors (1), as well as a \u201cflow-through canyon with sky views\u201d and a \u201clush, oceanside meditation garden.\u201d<\/p>\n
But according to the Wall Street Journal, the inability to finalize plans for an on-site memorial to the Champlain Towers South victims \u2014 along with an attitude, as one former town representative put it, of \u201c\u2018we\u2019re here, we\u2019re going to get what we want, we\u2019re going to do what we want\u2019\u201d \u2014 drove a wedge between the developer and the community (4).<\/p>\n
Damac\u2019s spokesperson disagreed, telling Moneywise that a \u201crecord exists in writing\u201d of correspondence and meetings over 18 months in which the company \u201cengaged consistently and in good faith\u201d and \u201cproposed an easement that was declined.\u201d<\/p>\n
Read More: Here are 5 fixed costs Americans constantly overpay for. How many are sabotaging your budget?<\/a><\/p>\n Danzinger added that Damac \u201creworked their designs to accommodate concerns raised by the families, demonstrating a genuine willingness to listen\u201d and his belief that \u201cthey would remain open and amenable to continued dialogue.\u201d The spokesperson agreed.<\/p>\n Construction on the development halted in February (5), though Damac\u2019s rep said that it \u201ccontinues to move forward\u201d with the finalization of various requirements related to insurance, a master building permit and hiring a partner to manage operations and local sales and marketing. While nothing has been finalized, they say the project\u2019s completion \u201cremains on track for 2029.\u201d<\/p>\n The larger challenge remains, however, that Damac hasn\u2019t sold any units in the building more than a year after announcing the development.<\/p>\n Why no one is buying what Damac is selling <\/p>\n While it\u2019s unclear if the past tragedy on the site has played any factor in the lack of Delmore units sold, Oiknine believes pricing has been a major obstacle.<\/p>\n Units were listed between roughly $15 million and $150 million (6) \u2014 averaging around $40 million \u2014 while the average asking price for luxury condos in Surfside as of the second quarter of 2026 is just over $9 million (7).<\/p>\n \u201cWhile an ultra-luxury price point is not unheard of in this market, those figures are typically reserved for beautiful condos and penthouses with expansive, panoramic views,\u201d Oiknine said. \u201cThe entry-level units at The Delmore offered inferior views yet were still priced at a premium.\u201d<\/p>\n Oiknine added her belief that Damac \u201cdid not have a strong grasp of this market\u201d and may have been better off partnering with a local developer \u201cwho understood the community, the location\u2019s significance and what buyers in this market are truly looking for, as they are now looking to do.\u201d<\/p>\n Damac\u2019s spokesperson, however, argues that The Delmore \u201coperates in a different tier\u201d than other area developments given their price points and being an oceanfront development with limited residences. The value of these units, the spokesperson says, \u201cis determined by far more than a single view corridor.\u201d<\/p>\n Damac also contends that \u201chaving no sales does not equate to no interest,\u201d telling Moneywise that \u201cwe have received offers and rejected them, as buyers at the onset of a development of this magnitude expect a price discount we were unwilling to provide.\u201d<\/p>\n The developer also disagrees that its team \u201clacks market understanding\u201d and, in responding to reports that it may partner with a local developer (6), noted, \u201cwe recognize the value of local perspective and on-the-ground relationships,\u201d characterizing them as \u201ccomplementary\u201d to their own vision and expertise.<\/p>\n Damac added that the weight of the Champlain Towers South collapse \u201cis not lost on us\u201d and that it remains committed to \u201cdelivering a project of exceptional quality \u2013 one that contributes positively to Surfside while remaining mindful of the significance of this site.\u201d<\/p>\n \u201cNo matter what is ultimately built there, the memory of those we lost must be permanently and respectfully honored,\u201d Danzinger said. \u201cBeyond that, we hope to see a development that is thoughtful, that contributes positively to the fabric of our community, and that the families can one day look at and feel that their loved ones were not forgotten.\u201d<\/p>\n You May Also Like <\/p>\n Join 250,000+ readers and get Moneywise\u2019s best stories and exclusive interviews first \u2014 clear insights curated and delivered weekly. Subscribe now.<\/a><\/p>\n Article Sources <\/p>\n We rely only on vetted sources and credible third-party reporting. For details, see our ethics and guidelines<\/a>.<\/p>\n PR Newswire (1<\/a>); NPR (2<\/a>); Nist (3<\/a>); Wall Street Journal (4<\/a>); Independent (5<\/a>); The Real Deal (6<\/a>); Miami Residence (7<\/a>).<\/p>\n This article originally appeared on Moneywise.com<\/a> under the title: After Florida’s Surfside condo collapse, a developer bought the land at a bargain price. Now it can’t sell a single unit<\/a><\/p>\n This article provides information only and should not be construed as advice. It is provided without warranty of any kind.<\/p>\n","protected":false},"excerpt":{"rendered":"Jeffrey Greenberg\/Universal Images Group via Getty Images Surfside, Florida may only comprise a single square mile north of…\n","protected":false},"author":2,"featured_media":318401,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[90898,131392,102805,132314,5225,2152,28,30,29,132315,122593,90905,18692,93147],"class_list":["post-318400","post","type-post","status-publish","format-standard","has-post-thumbnail","category-florida","tag-champlain-towers-south","tag-champlain-towers-south-collapse","tag-collapse","tag-delmore","tag-developer","tag-development","tag-florida","tag-florida-headlines","tag-florida-news","tag-joelle-oiknine","tag-moneywise","tag-shlomo-danzinger","tag-spokesperson","tag-surfside-condo-collapse"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/318400","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=318400"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/318400\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/318401"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=318400"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=318400"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=318400"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}