{"id":338760,"date":"2026-07-13T19:17:12","date_gmt":"2026-07-13T19:17:12","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-fl\/338760\/"},"modified":"2026-07-13T19:17:12","modified_gmt":"2026-07-13T19:17:12","slug":"kolter-expands-miami-beach-assemblage-for-condo-dev-with-bh-group-commercial-observer","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-fl\/338760\/","title":{"rendered":"Kolter Expands Miami Beach Assemblage for Condo Dev With BH Group \u2013 Commercial Observer"},"content":{"rendered":"

Kolter Group<\/a> and BH Group<\/a> have expanded their oceanfront assemblage in Miami Beach\u2019s North Beach neighborhood, where they plan to build a 17-story luxury condo development.<\/p>\n

In one transaction, Kolter Group bought 10 condo units within the Port Royale Condo at 6969 Collins Avenue for about $3.8 million, property records show. The 14-story structure, built in 1971, has faced concerns over its structural integrity, and in 2022 residents of the 172-unit building were evacuated.<\/p>\n

SEE ALSO: In Likely a Culver City Record, Black Equities Buys Multifamily Asset for $106M<\/a><\/p>\n

In another deal on the same block, Kolter paid $14.4 million for the 7,600-square-foot commercial condos of the Crystal Beach Suites Hotel at 6981 Collins Avenue. The sellers were Miami Beach-based Elysee Investment Company, which owned a 70 percent stake, and Joseph Cohen, who owned the rest.<\/p>\n

The purchase likely brings the 1950-era, 1-acre property under the full control of the developers. In 2023, the Delray Beach-based developer purchased the 84-room hotel component for $18 million.\u00a0<\/p>\n

In January, Kolter bought<\/a> the four-story, 0.3-acre property sandwiched between the Port Royale Condo and Crystal Beach Suites Hotel, paying $26 million. Wells Fargo provided a $41 million mortgage.\u00a0<\/p>\n

Put together, the acquisitions give the developers ownership stakes in roughly half of the oceanfront properties between 69th and 71st streets.<\/p>\n

On at least a portion of the block, the developers plan to replace<\/a> the aging structures with a 37-unit condo development designed by Kobi Karp. The project is set to include 947 square feet of ground-floor retail and 86 parking spots.\u00a0<\/p>\n

Last year, the joint venture marketed<\/a> a 1-acre section of the site for $110 million. A representative for the joint venture did not immediately respond to a request for comment.<\/p>\n

Julia Echikson can be reached at jechikson@commercialobserver.com<\/a>.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"Kolter Group and BH Group have expanded their oceanfront assemblage in Miami Beach\u2019s North Beach neighborhood, where they…\n","protected":false},"author":2,"featured_media":338761,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[139266,139267,8001,139268,28207,20157,123,125,124,139269],"class_list":["post-338760","post","type-post","status-publish","format-standard","has-post-thumbnail","category-miami","tag-6969-collins-avenue","tag-6981-collins-avenue","tag-channel","tag-crystal-beach-suites-hotel","tag-development-site-sale","tag-investments-sales","tag-miami","tag-miami-headlines","tag-miami-news","tag-port-royale-condo"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/338760","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=338760"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/338760\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/338761"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=338760"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=338760"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=338760"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}