New York-based developer JMH Development has closed on a deal for the Surf House Condominium in Surfside for $55 million. So far, the company has closed on 31 of the units for a total of $46 million. The building is located on the beach on Collins Ave. just north of Miami Beach. The building traded for an average of $1.52 million per unit. JMH plans to construct a luxury, boutique condominium building, similar to the developer’s Three Hundred Collins project in the South of Fifth neighborhood.
“8995 Collins is one of the last remaining beachfront sites in Miami Beach and our first endeavor in Surfside,” said Jason Halpern, founder and managing partner of JMH Development. “We have seen a void in smaller, truly high-end buildings in this market, and we are focused on developing more projects of this nature throughout Miami Beach. We were especially drawn to the privacy of the site, which shares a cul-de-sac with The Surf Club Four Seasons development next door.”
