Amity Realty Announces Multimillion Dollar Investment Opportunities at Chateau Beach
- Feb 26, 2014
Chateau Beach Residences is a 33-story luxury beachfront condo tower in Sunny Isles Beach, Fla. just north of Miami, minutes from the prestigious residential estates of Golden Beach, luxury shopping and dining in Bal Harbour, and Aventura Mall. Its location allows for easy access to the Miami and Fort Lauderdale/Hollywood International airports as well.
Chateau Group is the developer for the project, an industry leader with experience in residential, commercial and mixed-use projects alike, in both the U.S. and South America markets. This is the Argentinian group’s first solo project in Miami after more than a decade of real estate investments in the area.
According to the developer, 60 percent of the units are already under contract. Chateau is financing the project with large deposits from the unit buyers — a model ever so popular among South Florida condominium developers. The structure of the required payment from buyers includes a reservation agreement worth $150,000, followed by a 20 percent purchase agreement, further 20-20 percent at the time of ground works and topping out and 30 percent at closing.
Upon its estimated completion this fall, Chateau Beach Residences will feature 82 two-, three- and four-bedroom residences ranging from 2,890 square feet to 4,305 square feet and two penthouses ranging from 8,500 square feet to 9,300 square feet. Prices range from $1.3 million to $25 million depending on the buyer’s choice of the seven available floor plans. The property has attracted mainly foreign buyers so far, the majority from Argentina, Brazil, Venezuela, Colombia and Russia.
Photo credits: Chateau Group