Oceana Key Biscayne
A groundbreaking ceremony on February 14, 2012 marked the start of the newly announced Oceana Key Biscayne, developed by Consultatio Key Biscayne, LLC, and probably the most unique and exclusive real estate development in Miami.
Oceana is being built on the site of the former Sonesta Hotel, which was one of the first hotels on Key Biscayne and is also the last oceanfront site available for construction. The 10.3-acre property is located on the east side of Key Biscayne facing the Atlantic Ocean. The last building on Key Biscayne was The Ocean Club, built in 1999.
Oceana will accentuate luxury living on Key Biscayne: new construction offering large living spaces (up to 7500 square feet), unparalleled luxury and amenities, a prime oceanfront location and the sophistication of low-density with a discreet footprint. The ultra exclusive 142-condominium development with 12 adjacent villas will be the only real alternative when looking for new, large, oceanfront living on Key Biscayne.
Key Biscayne is considered one of the most exclusive areas in Miami and has one of the highest per capita incomes in the United States. It is also home to many international artists, politicians, sport figures, and world-renowned executives.
Overview of Oceana Key Biscayne
Oceana Key Biscayne will be a state of the art project; floor plans will range from 1750 SF to 7500 SF, with a very low density ratio (a total of154 units on a 10.3 acre site).
Due to the lack of available land, lack of new construction, and few low-density buildings on Key Biscayne, many buyers preferring luxury oceanfront condominiums were limited to single-family homes, where canal-front lots start at five million dollars.
The Development Team
Coastal Construction is the General Contractor for the project. Renowned architect Bernardo Fort-Brescia of Arquitectonica is currently working the final design details.
Consultatio is an seasoned real estate developer from Argentina, with 30 years of experience developing large-scale master planned communities, commercial properties, and residential towers in Argentina, as well as high-end developments in other international markets like Nordelta, Puertos del Lago and Las Garzas (Uruguay). Oceana will be its first foray into the US market.
Sales and Terms
Prices start at $1000 per sq. ft. Unit reservations are now being taken with prices starting at $1000 per sq. ft. for the Tower condominium residences. The Villas all have 5187 sq. ft. and are priced between $4.7M and $5.7M depending on lot size. Payment terms are 10% at reservation, 20% at contract (expected in the June time frame), 20% at building top-off with the balance due at closing.