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.
Julian Zuniga
Colliers
