Turnberry Associates has taken reservations on at least 24 of 154 condos at Turnbery Ocean Club since opening a sales office in October.
A representative of the developer told TRD that about two-thirds of the buyers are from South America or Europe. The executive expects to have 50 to 70 units reserved at groundbreaking in 2015.
The sales pace isn’t nearly as hot as some other projects in Sunny Isles in recent years, possibly due to a collapsing economy in Russia and weakness in Brazil. Buyers are being required to place a 10% deposit to reserve units, which range in price from $4 million to $32 million.
Architect Carlos Zapata is designing the 54-story tower, which will be located at 18501 Collins Avenue. Completion is scheduled for 2018.