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4-acre Oceanfront Development Opportunity in Miami Beach - Millionaire’s Row

Castle Beach Club Condo Association selects Colliers to market the transformative once-in-a-lifetime opportunity

MIAMI BEACH, FL | December 13, 2021 – With development activity in Miami Beach on the rise as wealthy residents continue to move into the area, Castle Beach Club Condo Association has received several unsolicited offers to acquire its four acres of land with 576 linear feet of frontage of the world-renowned Miami Beach. The condominium, located at 5445 Collins Avenue, has selected Colliers to market this opportunity.

Colliers South Florida Vice Chairman Ken Krasnow, Executive Managing Director Gerard Yetming, Director Brooke Berkowitz, and Senior Financial Analyst Julian Zuniga are handling the assignment on behalf of the Castle Beach Club Condo Association.

 

“Miami Beach continues to evolve into an internationally known, world-class, 24-hour destination, “said Krasnow. “There is substantial demand in the marketplace for new developments and Castle Beach Club’s location offers unmatched connectivity and accessibility to all major South Beach attractions.”

 

Castle Beach Club is an existing condominium building built in 1966 that sits on a 3.98-acre beachfront parcel. This one-of-a-kind unprecedented land site offers a world-class development opportunity that will appeal to buyers from around the globe.

 

“Miami Beach continues to cement its reputation as a global destination, attracting extremely wealthy individuals and leaders of prominent financial and technology companies around the world,” said Yetming.

As land becomes increasingly scarce, opportunities for development on Miami Beach have become few relative to the heightened demand. Year-over-year condominium sales have posted an increase of 64% in Miami Beach with average price-per-square-foot of new-construction, oceanfront condos jumping 21% from 2019 to 2021. The Castle Beach Club site represents the rare opportunity for developers to build a project that would re-shape the Miami Beach Skyline.


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Ken Krasnow

Vice Chairman Institutional Investor Services

Miami

Ken Krasnow serves as Vice Chairman of Institutional Investor Services for the Florida region. In this role, he is responsible for broadening the company’s platform by developing key client relationships, leading major projects and transactions, maintaining senior real estate industry and political relationships and recruiting new talent. Ken brings more than 30 years of acclaimed expertise in the commercial real estate industry, offering an exceptional level of on-the-ground market knowledge. 

Since joining Colliers as Market Leader in 2015, Ken has overseen the tremendous growth of the business from less than two dozen professionals to more than 150 as of year end 2018 during which time the firm acquired high profile companies such as CREC, Pointe Group and MF&Co.  During that same period, revenues more than quadrupled while maintaining solid margins of profitability. 

Krasnow launched his career as a commercial leasing broker and was responsible for more than three million square feet of Class A office building agencies in New York City.  As the markets in Florida continue to rapidly evolve, I am proud to have a responsive approach to management, curating talent and specialties to help us always provide best-in-class service for our clients and community.

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Gerard Yetming

Executive Managing Director, Investment Servs

Miami

Gerard Yetming joined Colliers in 2016. His team focuses on investment sales of all product types in urban South Florida neighborhoods.

A dynamic and dependable commercial real estate broker with over 15 years of commercial experience, he has demonstrated success pioneering new, emerging brokerage practices in complex, non-traditional niches - including condominium conversions in the early 2000s and urban land in the early 2010s.

He has a proven track record for successfully executing capital market transactions, having been involved in more than $8 billion of assignments including some of the largest and most complex transactions in South Florida. His recent focus on urban land assignments has resulted in $1 billion of transactions over the past since 2012.

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Brooke Mosier

Director

Fort Lauderdale

As a Director in the Fort Lauderdale office of Colliers International South Florida, Brooke is spearheading our newly expanded specialty practice focused on public institutions. 

With nearly 10 years of public sector experience, her most recent role was serving as Acquisition & Relocation Agent for HDR concentrating on right of way projects in Miami-Dade, Broward and St. Lucie Counties.

Prior to that, Brooke was a member of the CBRE South Florida Occupier team, as an integral part of the City of Fort Lauderdale’s account management team which was responsible for the execution of the City of Fort Lauderdale’s strategic plan, including the evaluation, disposition, repurposing and management of the City’s leased and owned assets. She has also worked with the Public Institution Group representing Martin County and Riviera Beach Community Redevelopment Agency, in addition to four years working for the Florida Department of Transportation (FDOT) District 6.

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Julian Zuniga

Senior Financial Analyst

Miami

Julian Zuniga joined the South Florida offices of Colliers International in 2016. He serves as the lead financial analyst for the investment sales team, focusing on the underwriting and analysis of development site and multifamily acquisitions / dispositions throughout the South Florida Market.

As a proficient and entrepreneurial driven analyst, Julian is a key contributor to the investment sales team providing high-level, in-depth market data analytics and valuation metrics to all the team’s assignments. Julian strives to provide industry leading and accurate data sources and valuation models, which will lead to optimal results for the client in all types of traditional and complex transactions.

Over the past 6 years, he has demonstrated success working on the underwriting and deal execution in non-traditional niches including condominium buyouts, income producing covered-land plays, and short-term rental home revenue sharing business models.

In his young career, Julian has built a proven track record having worked on and executed over $500 million worth of development site and multifamily assignments in South Florida.

Julian has been in the real estate business most of his life, working with his father’s development company from a young age. He obtained his real estate license in 2013 and has also focused on the commercial real estate sector. He received a bachelor’s in business administration from Florida International University in 2015 and shortly thereafter received his master’s in international real estate (MSIRE) in 2016 from the nationally ranked Hollo School of Real Estate at Florida International University. Julian began his career at Colliers as an intern and quickly grew within the company as an analyst and associate broker.

Julian was born in Barranquilla, Colombia and has been living in the United States for the past 20 years. Being fluent in both Spanish and English has allowed him to work seamlessly and create strong relationships with investors and developers from Latin America looking to acquire / dispose assets in domestic and foreign markets.

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