6080 Collins Avenue Beach House will break ground this Monday with 65 percent under contract.
The 70 units at the six-story boutique condo-hotel development in Mid-Beach are comprised of large studios and one-bedroom suites, with units starting at $267,000.
"The price is inexpensive and available to people who want a second home," says Pablo Hoberman, one of the hotel residence’s three Argentine developers and architects, a joint venture between Urbis Real Estate and Domus Group. "They can either use the unit all year, or for just one month a year, then during the remaining 11 months we manage the residence so the buyer makes money on rentals. Buying a new property in Miami Beach that makes money instead of costing money is very appealing."
Starbucks has reached an agreement with developers to open on the ground floor.
Amenities in the building include a rooftop pool, gym, and water wall, with original art by local artists throughout the rooms and lobby, as part of a contest with Miami's Bakehouse Art Complex.
The development is expected to be completed by summer of 2017.