What Happened
South Florida's luxury real estate market is experiencing a surge in activity, with top developers securing approvals, closing high-profile deals, and planning new projects. Related Group and BH Group are at the forefront of this trend, with several significant developments in the works.
Hollywood Beach Resort Redevelopment
Miami-based Related Group and Aventura-based BH Group are under contract to acquire the century-old Hollywood Beach Resort and an adjacent parking garage from New York City-based Chetrit Group. The developers plan to redevelop the property, although the contractual purchase price has not been disclosed. Related Group's founder and executive chairman, Jorge Pérez, and BH Group's founder and CEO, Isaac Toledano, are leading the effort.
Rosewood Residences West Palm Beach
Related Group and BH Group have received approval for their planned Rosewood Residences in West Palm Beach. The luxury condo tower, designed by Miami-based Arquitectonica, will feature 90 units, 13,000 square feet of indoor amenities, a swimming pool on the fifth floor, and 185 parking spaces. The developers paid $34 million for the 0.8-acre site in 2024.
Palm Beach Luxury Contracts
A mansion in Jupiter's Admirals Cove recently landed a $19 million contract, topping Palm Beach County's luxury market. The 6,800-square-foot property, listed by Jennifer Hyland of The Corcoran Group, spent an average of 133 days on the market. The sale is part of a larger trend of luxury contracts in Palm Beach County, with 19 contracts totaling $143.7 million in asking dollar volume recorded between June 15 and 21.
South Florida's Top Deals
The $35 million sale of a waterfront property on Miami Beach's Sunset Islands was the priciest home sale recorded in South Florida. The 3,700-square-foot property was sold as a development site. In Davie, an industrial land site changed hands for $14.5 million. Le Petit Papillon Montessori Corporation sold four parcels of a school property in Miami Beach for $19 million.
Miami Design District Mixed-Use Project
Miami Design District Associates and Raycliff Capital are planning a new mixed-use project, Sweetbird North, designed by global architecture firm Snøhetta. The eight-story, 120,500-square-foot office-and-retail project will feature 92,000 square feet of office space and 22,500 square feet of retail. Construction is expected to begin in August and wrap up in early 2028.
Key Facts
- Who: Related Group, BH Group, Jorge Pérez, Isaac Toledano
- What: Redevelopment of Hollywood Beach Resort, approval of Rosewood Residences West Palm Beach, luxury contracts in Palm Beach County, new mixed-use project in Miami Design District
- When: June 2023
- Where: South Florida, specifically Hollywood, West Palm Beach, Palm Beach County, and Miami Beach
- Impact: Surge in luxury real estate activity, new developments, and high-profile sales
What to Watch
As the luxury real estate market in South Florida continues to heat up, developers and investors will be watching for new opportunities and trends. With Related Group and BH Group leading the charge, the region can expect to see more high-profile projects and deals in the coming months.
What Happened
South Florida's luxury real estate market is experiencing a surge in activity, with top developers securing approvals, closing high-profile deals, and planning new projects. Related Group and BH Group are at the forefront of this trend, with several significant developments in the works.
Hollywood Beach Resort Redevelopment
Miami-based Related Group and Aventura-based BH Group are under contract to acquire the century-old Hollywood Beach Resort and an adjacent parking garage from New York City-based Chetrit Group. The developers plan to redevelop the property, although the contractual purchase price has not been disclosed. Related Group's founder and executive chairman, Jorge Pérez, and BH Group's founder and CEO, Isaac Toledano, are leading the effort.
Rosewood Residences West Palm Beach
Related Group and BH Group have received approval for their planned Rosewood Residences in West Palm Beach. The luxury condo tower, designed by Miami-based Arquitectonica, will feature 90 units, 13,000 square feet of indoor amenities, a swimming pool on the fifth floor, and 185 parking spaces. The developers paid $34 million for the 0.8-acre site in 2024.
Palm Beach Luxury Contracts
A mansion in Jupiter's Admirals Cove recently landed a $19 million contract, topping Palm Beach County's luxury market. The 6,800-square-foot property, listed by Jennifer Hyland of The Corcoran Group, spent an average of 133 days on the market. The sale is part of a larger trend of luxury contracts in Palm Beach County, with 19 contracts totaling $143.7 million in asking dollar volume recorded between June 15 and 21.
South Florida's Top Deals
The $35 million sale of a waterfront property on Miami Beach's Sunset Islands was the priciest home sale recorded in South Florida. The 3,700-square-foot property was sold as a development site. In Davie, an industrial land site changed hands for $14.5 million. Le Petit Papillon Montessori Corporation sold four parcels of a school property in Miami Beach for $19 million.
Miami Design District Mixed-Use Project
Miami Design District Associates and Raycliff Capital are planning a new mixed-use project, Sweetbird North, designed by global architecture firm Snøhetta. The eight-story, 120,500-square-foot office-and-retail project will feature 92,000 square feet of office space and 22,500 square feet of retail. Construction is expected to begin in August and wrap up in early 2028.
Key Facts
- Who: Related Group, BH Group, Jorge Pérez, Isaac Toledano
- What: Redevelopment of Hollywood Beach Resort, approval of Rosewood Residences West Palm Beach, luxury contracts in Palm Beach County, new mixed-use project in Miami Design District
- When: June 2023
- Where: South Florida, specifically Hollywood, West Palm Beach, Palm Beach County, and Miami Beach
- Impact: Surge in luxury real estate activity, new developments, and high-profile sales
What to Watch
As the luxury real estate market in South Florida continues to heat up, developers and investors will be watching for new opportunities and trends. With Related Group and BH Group leading the charge, the region can expect to see more high-profile projects and deals in the coming months.