Yet another condo project is planned in Sunny Isles Beach.
Chateau Group and Fortune International teamed up to buy out the owners of the 347-unit La Playa de Varadero condo-hotel in Sunny Isles at 18801 Collins Ave.
The developers are paying $112.5 million for the 4.7 acre site. They plan to demolish the existing condos and build a new condo project at the site, according to the SFBJ citing a press release.
Chateau and Fortune recently submitted plans for a 212-unit condo project on the former Solis site at 15701 Collins Avenue. Chateau also has another 84-unit project in Sunny Isles called Chateau Beach that topped off earlier this year.