St. Regis Sunny Isles Beach Updates Site Plan
January 24, 2025
St. Regis Residences in Sunny Isles Beach has received approval from Sunny Isles commissioners to revise its site plan, adapting to evolving market demands. Château Group and Fortune International Group successfully secured these changes to reduce density while increasing the floor area ratio (FAR), resulting in fewer but more spacious condos.
Key Changes to the Development
Manuel Grosskopf, CEO of Château Group, noted that many buyers prefer to combine units, leading to the need for larger residences. The revised site plan allows:
- Up to 361 condos (down from 490)
- FAR increase to nearly 6.0
- 14 cabanas (previously 17)
- 10 guest suites (previously 13)
- An additional level of underground parking for the second tower
“Market demands have changed, and a density decrease along with minor design and program revisions are both necessary and desirable to enhance the overall project,” wrote Ian DeMello, an attorney with Shubin Law Group, in a letter of intent submitted to the city.
Luxury Residences & Sales Progress
Located at 18801 Collins Avenue, the oceanfront St. Regis condo towers feature:
- Sales for the south tower began in 2022 and are now 90% presold
- Sales for the north tower started nearly a year ago and are currently 30% complete
According to Fortune International Group CEO Edgardo Defortuna, the projected sellout for both towers is $3 billion.
Financing & Construction Updates
In April, the developers secured an additional $100 million in financing from Bank OZK, bringing the bank’s total funding to $219 million. Grosskopf confirmed that the team is actively securing a construction loan and expects to convert existing financing into construction funding within two months.
Architecture & Interior Design
The St. Regis Sunny Isles development showcases:
- Architectural design by Arquitectonica (Miami-based firm)
- Interior design by Patricia Anastassiadis (São Paulo-based designer)
- Landscape design by EDSA (Fort Lauderdale-based firm)
Planned luxury amenities include:
- Fitness center & sports courts
- Three ocean-facing pools
- Residents’ lounges & private dining areas
A Decade-Long Vision Coming to Life
Spanning 4.7 acres with 435 feet of oceanfront, the project has been in the works for over a decade. In 2014, Château Group and Fortune International Group acquired the land for $113 million, purchasing nearly 350 individual condo units from the former La Playa de Varadero condo hotel.
Other St. Regis Branded Developments in South Florida
The St. Regis brand continues to expand in South Florida, with:
- St. Regis Residences Miami (Brickell) – Developed by Related Group and Integra Investments
- St. Regis Resort and Residences Bahia Mar (Fort Lauderdale) – Led by Related Group, Tate Capital, and Rok Acquisitions
Market Trends & Comparable Adjustments
Modifications to pre-sold luxury condo projects are common in South Florida. For example, in Fort Lauderdale, Bill Malhotra’s Claridge Homes recently relaunched the 3000 Waterside condo project with a revised design. Originally planned as a 15-story tower with 103 units, it has been expanded to 18 stories with 129 units.
With these site plan adjustments, the St. Regis Sunny Isles Beach project continues evolving to meet buyer preferences for larger, high-end residences.
