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220 Kings Point Dr - Kings Point Imperial Condominium 2 Acres of Commercial Land in Sunny Isles Beach, FL 33160
INVESTMENT HIGHLIGHTS
- Prime Waterfront Location: Nearly 2 acres with 550 feet of frontage on the Palm Waterway, offering panoramic views in all directions.
- Central Access: Positioned between Miami and Fort Lauderdale with proximity to beaches, parks, marinas, and major shopping destinations.
- Strong Market Demand: Nearby luxury developments start at $4M, indicating high pricing potential for boutique projects.
- Exceptional Views: Views include the Atlantic Ocean, Sunny Isles Beach skyline, Intracoastal Waterway, and Oleta River State Park.
- Luxury Lifestyle Amenities: Close to Bal Harbour Shops, Aventura Mall, and a variety of dining and recreational options.
- Redevelopment Opportunity: Zoned for up to 218,028 SF FAR, ideal for a boutique building with fewer than 100 units offering exclusivity and privacy.
EXECUTIVE SUMMARY
The Kings Point Imperial site is a rare opportunity to acquire and redevelop just under 2 acres of waterfront land. The site enjoys 550 linear feet on the Palm Waterway. The property enjoys expansive view corridors of the Atlantic Ocean to the East, the Sunny Isles Beach skyline to the North, the Intracoastal Waterway and Oleta River State Park to the West and South.
PROXIMITY TO AMENITIES
Centrally located between Miami and Fort Lauderdale, residents will enjoy easy access to some of South Florida’s best amenities. Apart from the pristine beaches, state parks and bike/walk paths a few steps away, residents have access to 3 full-service marinas nearby. Sunny Isles Beach is also home to world-class shopping and dining at Bal Harbour Shops and Aventura Mall as well as other local cafes and bars.
ESCALATING PRICING AND MARKET NICHE FOR BOUTIQUE DEVELOPMENT
The influx of wealthy residents continues to drive new condominium pricing. Preconstruction pricing of new condominium units in nearby developments such as Bentley Residences and the St. Regis Sunny Isles start at $4 million. This creates tremendous headroom for a boutique Intracoastal development. The zoning of the Kings Point Imperial site allows for the redevelopment of up to 218,028 square feet of FAR. This development could be positioned as a rare new boutique building with less than 100 units, offering
residents a generously sized units with a sense of privacy and exclusivity, while allowing a developer to achieve presales and execute the project on an accelerated timeline.
DATA ROOM Click Here to Access
PROPERTY FACTS
1 LOT AVAILABLE
Lot
| Lot Size | 2.00 AC |
| Lot Size | 2.00 AC |
Just under 2 acres of waterfront land. The site enjoys 550 linear feet on the Palm Waterway. The property enjoys expansive view corridors of the Atlantic Ocean to the East, the Sunny Isles Beach skyline to the North and the Intracoastal Waterway
DESCRIPTION
As an exclusive listing broker, Colliers is pleased to present the extremely rare opportunity to acquire the Kings Point Imperial Condominium, a waterfront development opportunity located at 220 Kings Point Drive in highly sought-after Sunny Isles Beach. The Board of Directors has engaged Colliers to explore strategic sale opportunities for the property, with the collective support of the vast majority of unit owners. Kings Point is an aging six-story condominium building built in 1962 with 82 residential units. The property is approximately 2.00 acres, with over 550 feet of frontage on the Palm Waterway an inlet to the Intracoastal Waterway. The Kings Point Imperial Condominium offers developers the opportunity to transform Sunny Isle’s skyline with an ultra-luxury residential project capturing the soaring population and rebounding hospitality market that the city is experiencing. The in-place RMF-2, medium high density multifamily residential, of the city of Sunny Isles Beach, is one of the most intense and liberal zoning codes in the area, allowing for various development uses with high density and building height. Sunny Isles Beach is a luxury condominium market in Miami-Dade County, Florida. This popular destination for wealthy buyers from all over the world is known for its stunning ocean and sunset views, its easy accessibility to world-class amenities, and all that Miami has to offer, including the area’s most prominent luxury condo projects, hotels, world-class shopping and dining, and golf courses. The median price of a luxury condominium in Sunny Isles Beach is $3.1 million, and the average price per square foot is $1,969. The market is characterized by its high end waterfront properties and currently experiencing strong demand, with a low inventory of properties for sale.
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220 Kings Point Dr - Kings Point Imperial Condominium
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