The real estate recovery has been a long slog for most of the nation, but South Florida’s been looking up more and more. While Miami and its surroundings are doing well, Sunny Isles is outperforming some of the traditional leaders. With 15 condo properties now under development, the city’s boom is more than just a trend. The newest project involves the Trump Group and a planned 51-story condo building to be branded Estates At Acqualina.
A Look at the Project
The Trump Group marks the third attempt in the past 10 years (under the name GSF Acquisition LLC) to build a condo on Collins Avenue in Sunny Isles. The site itself comprises 5.6 acres, and was once home to the Golden Strand Ocean Villa Resort. The new development will be called Estates At Acqualina and will comprise of two towers, 51 stories each. Each tower will feature only 90 residences. The residences will range in size from 4,465 square feet to just over 5,000 square feet. Just two lots south of its location is the site of another Trump Group project, the Mansions at Acqualina, which will eventually boast 79 units spread across 46 floors.
The club house for Estates of Acqualina will be called Villa Acqualina and will be built by an acclaimed architect, Rafael Portuondo. The new Estates at Acqualina will offer top of the line amenities including beautifully landscaped gardens featuring multiple infinity pools, a FlowRider® for surfers, a basketball court, a romantic beachfront restaurant and bar, and 502 feet of Atlantic oceanfront on a 5.6 acre site with all the benefits of Acqualina’s five-star lifestyle. Residents can enjoy the sun’s splendor and dip into the cool ocean in an atmosphere of absolute privacy, which is unparalleled in South Florida. Villa Acqualina with more than 45,000 square feet of remarkable facilities including a spa and fitness center, one of a kind dining with a world renowned restaurant and Circus Maximus, a full floor of magical amenities such as ice skating rink, bowling lanes, a Wall Street Trader’s Club room, and a movie theater among many other attractions to delight people of every age. Villa Acqualina has something for everyone, creating a never-before-seen ocean-side lifestyle.
The existing Golden Strand Ocean Villa Resort has stood on the beach for over 32 years, and comprises a number of residential and commercial buildings. The president of that project signed termination paperwork in June 2014, which cleared the way for the property to be sold and ultimately demolished before construction of the new Acqualina tower can begin.
That move comes only months after the purchase of 134 units at the Golden Strand Ocean Villa Resort by GSF Acquisition back in January of 2014 (giving the development company a controlling interest of 80% and the ability to press for a sale).
Will the towers sell out quickly? That’s the multimillion-dollar question. The Trump Group is banking on buyers maintaining their appetite for luxury south Florida real estate in the coming years, even as other projects come to the market. As this is the 15th such project to be announced in Sunny Isles alone since the beginning of the current boom cycle back in 2011, there will be lots of competition for the Acqualina. Whether the company’s gamble pays off remains to be seen, but it’s definitely a sign of the times.
For Sunny Isles, and most other areas of SoFla, the real estate bust is long gone and business is booming. Thousands of new units are slated to come to market within the next three years, giving buyers more choices in luxury living than ever before.
Prospective buyers have an incredible array of options in Sunny Isles alone. With 15 new projects in development as well as existing properties on the market, it’s an interesting mix of both a buyer’s and seller’s market, giving benefits to both sides. Buyers get their choice of luxury living in some of the finest condo properties ever built, and sellers get to take advantage of surging demand for their offerings.
Click Here To View Additional Information About Estates At Acqualina or to reserve your unit today please contact our office at (305) 336-0457.