If you live in an old building on South Florida’s prime waterfront, don’t get too comfortable: Developers want your sand.
In the latest mega-deal to happen on the beach, a New York-based developer said he has struck a $55 million deal to buy a modest Surfside condo building that dates to the 1960s. His plan? Tear it down and build a luxury 12-story condo tower.
Surf House, at 8995 Collins Ave., was built in 1966 and has 36 units. Many of its residents are families who have lived or vacationed there for years.
Developer Jason Halpern said he has already bought 31 units at the eight-story building for a total of $46 million and has a deal in place to buy the other five condos for an additional $9 million. County property records for the transaction weren’t available Monday afternoon.