Fort Partners' Seaway North at The Surf Club in Surfside has recorded $386.4 million in total sales across just 10 residences as of May 2026, according to The Real Deal. The top unit, Penthouse 10, sold for $64.5 million at $7,414 per square foot, the highest price per square foot in any new Miami-Dade development on record. The average sale price across all 10 units is $38.6 million. For broader context on buying in this price tier, see the Miami pre-construction buyer guide.
On May 6, 2026, The Real Deal reported that Fort Partners' Seaway North at The Surf Club in Surfside has reached $386.4 million in total sales. The building has just 10 residences. That math works out to $38.6 million per unit on average, making Seaway North the highest-average-price condominium development in Miami-Dade County history. The penthouse record, $64.5 million at $7,414 per square foot, sits well above anything previously recorded in South Florida. For anyone tracking where the ultra-luxury ceiling is moving, this is the data point that matters most in 2026. See my full breakdown of the Miami market in the Miami pre-construction buyer guide.
The 10 Units: Sales Data and Price Records
Seaway North at The Surf Club, 9165 Collins Avenue in Surfside, is a 10-unit oceanfront building developed by Fort Partners as the second residential phase of the Surf Club complex. Each unit is between 7,900 and 8,700 square feet. According to The Real Deal (May 6, 2026), the building has now recorded $386.4 million in total sales, leaving just a handful of units to reach a full sellout above $400 million.
The four most recent transactions tell the story clearly. Penthouse 10, an 8,700-square-foot residence, sold to Marinus Limited for $64.5 million ($7,414 per square foot). Penthouse 9, at 7,900 square feet, sold to a trust for $41 million ($5,190 per square foot) in May 2026. Unit 801 closed at $40 million ($5,063 per square foot). Unit 701 sold for $39 million ($4,875 per square foot). Fort Partners acquired the one-acre Seaway North site for $41.5 million in 2023, meaning a single penthouse sale recovered the entire land cost. For context on the deposit and acquisition structure at this price tier, see how pre-construction buying works in Miami.
This is not an isolated data point. Fort Partners also sold three condos at the adjacent Seaway at The Surf Club building for $121 million in April 2026, and four condos for $161 million. The Surf Club complex as a whole is tracking toward one of the largest residential sellouts per square foot in U.S. history. According to the Keyes and Illustrated Properties Q1 2026 luxury report, Miami-Dade luxury sales above $1 million rose 21 percent year-over-year, but Surf Club's pricing is outpacing the broader luxury market by a wide margin.
Why Surfside Commands $7,400 Per Square Foot
Surfside is a small town of about 6,000 residents between Bal Harbour and Miami Beach on Collins Avenue. It has no nightlife strip, no major commercial corridor, and limited dining options. That scarcity is precisely the point. The buyers paying $5,000 to $7,400 per square foot at Seaway North are not looking for convenience. They are buying maximum oceanfront privacy at a scale that simply does not exist in Brickell, Edgewater, or Sunny Isles, where larger towers divide oceanfront views among hundreds of units.
According to data from Miami Realtors, cash purchases accounted for 44 percent of January 2026 closings in Miami-Dade, well above the national average of 27 percent. At the Seaway North price tier, virtually every transaction is all-cash, which removes appraisal risk and compressed financing timelines from the equation entirely. The true cost of owning a Miami luxury condo at this price point is driven by carrying costs, not financing.
Several factors explain the Surfside premium specifically:
- Density: Surfside limits building height and density more aggressively than Miami Beach or Sunny Isles. New oceanfront supply is structurally constrained.
- Adjacent Bal Harbour Shops: The most productive retail per square foot in the United States sits three minutes away, offering every luxury brand without the mass-tourism crowds of South Beach.
- Four Seasons Hotel access: Seaway North residents access the Four Seasons Surf Club amenity infrastructure, including private beach club service, spa, and restaurant.
- Unit size: At 7,900 to 8,700 square feet, these residences rival single-family homes in usable space. There is no equivalent product of this scale in any Brickell or Edgewater tower.
- Privacy: Ten units means 10 neighbors total, the residential equivalent of a private compound.
Ultra-Luxury Submarkets Compared: Surfside vs. Sunny Isles vs. Bal Harbour vs. Miami Beach
Miami-Dade has four serious contenders for the ultra-luxury buyer above $10 million. Seaway North's pricing changes the competitive picture significantly. Here is how the submarkets compare as of Q2 2026:
| Submarket | Typical Price/Sq Ft | Density / Units | Key Project 2026 |
|---|---|---|---|
| Surfside (Seaway North) | $4,875-$7,414 | 10 units (ultra-low) | Seaway North, Fort Partners |
| Bal Harbour / Bay Harbor | $3,000-$5,500 | Mid (30-80 units) | Ritz-Carlton North Bay Village |
| Sunny Isles Beach | $2,800-$5,000 | High (100-400 units) | Bentley Residences, Porsche Design |
| Miami Beach (waterfront) | $2,500-$4,500 | Variable (20-250 units) | Arte by Antonio Citterio, older resales |
| Brickell (branded) | $2,200-$4,000 | High (150-600 units) | St. Regis Brickell, 619 Brickell |
The pricing gap between Surfside and every other submarket is significant. Buyers at the $5 million and above range who are comparing neighborhoods should understand that Surfside's premium reflects genuine scarcity, not brand inflation. The Surf Club complex is essentially sold out. There is no comparable development coming to market in Surfside in the next three to five years, based on current zoning and available oceanfront sites.
What Seaway North's Sellout Means for Miami's Broader Market
When a 10-unit building nearly reaches $400 million in sales in a town of 6,000 residents, it does not stay a local story. It becomes a reference point for every conversation about ultra-luxury pricing across Miami-Dade. I have been fielding calls from buyers this week who are asking whether Sunny Isles Beach or Edgewater can produce comparable returns per square foot. The honest answer is: not yet, and possibly not ever, because the scarcity equation is fundamentally different.
The Seaway North data point validates something I have argued with clients for two years: in ultra-luxury real estate, size and density are not features, they are liabilities. The reason a unit at Seaway North trades at twice the price per square foot of a unit at a 400-unit Sunny Isles tower is not because the finishes are twice as good. It is because 10 neighbors is incomparably different from 399 neighbors. That distinction drives permanent scarcity, and permanent scarcity drives permanent price resilience.
The broader market implications are real. According to Miami Realtors data, luxury condo resales were up 2.9 percent year-over-year through early 2026 and prices are ticking upward. The $5 million and above tier is where the strongest momentum lives. For buyers in the $3 million to $8 million range looking at pre-construction in neighborhoods like Brickell, Edgewater, and Coconut Grove, the Surf Club's performance is evidence that the long-term thesis for Miami ultra-luxury is holding. Understanding the full financial picture before committing, including reserve funding and HOA structure under Florida's SB 4D, is essential. See the SB 4D complete guide for details.
Fort Partners and the Surf Club: Developer Track Record That Justifies the Premium
Fort Partners, led by developer Nadim Ashi, built the Surf Club complex over nearly a decade. The site at 9011 Collins Avenue in Surfside previously housed the historic Surf Club, which opened in 1930 and counted Winston Churchill, Frank Sinatra, and the Kennedys among its members. Fort Partners partnered with Four Seasons Hotels to restore the original club buildings and add two residential towers, Seaway at The Surf Club and Seaway North. Both phases have now achieved sellouts that no other developer in Miami-Dade has matched on a per-square-foot basis.
The developer track record is one reason buyers at this price point are paying premiums. Fort Partners sold an $86 million penthouse at the original Seaway building in November 2025, a record for Miami-Dade County at the time. They have now sold three units for $121 million (April 27, 2026) and four units for $161 million. The consistent execution across both phases of a highly complex, historically significant property demonstrates the kind of credibility that drives buyer confidence at the $40 million and above price point. For international buyers evaluating developer risk, this is the track record analysis I walk through in the foreign national real estate guide.
What Buyers Evaluating Surfside and the Collins Corridor Need to Know
Seaway North is effectively sold out. For buyers who want comparable pricing on the Collins Avenue oceanfront corridor, inventory is extremely limited. The buildings most comparable in terms of density and price tier are the original Seaway at The Surf Club residences (resale only), Arte by Antonio Citterio in Miami Beach (Arte has 16 units and trades at $4,000 to $6,000 per square foot), and new product at Bal Harbour, where the Ritz-Carlton North Bay Village project is targeting a similar ultra-low-density buyer profile.
For buyers considering properties in this corridor, here is what the data says about the decision framework in 2026:
- Price per square foot ceiling: Surfside now holds the Miami-Dade record at $7,414. Expect resale premiums of 15 to 25 percent over original sales price as Seaway North units trade in the secondary market.
- Foreign buyer structure: At this price tier, FIRPTA withholding at resale is 15 percent of gross proceeds. Proper LLC or trust structuring at acquisition can reduce this liability significantly. See the foreign buyer guide for structuring options.
- HOA and financial health: At $38 to $64 million per unit, HOA fees at Seaway North run $8,000 to $14,000 per month. Before purchasing any comparable ultra-luxury unit, review the building's financial reserves and any pending special assessments as required under SB 4D.
- Tax structure: The Miami real estate tax guide covers property tax rates, homestead implications, and country-specific treaty considerations for international buyers at this tier.
"Seaway North at The Surf Club is the clearest proof point I have seen in 15 years of Miami real estate that ultra-low density, world-class design, and a proven developer are the three variables that permanently separate a building from the competition. The buyers who paid $5,000 to $7,400 per square foot here were not speculating. They were buying scarcity in a city that is running out of it." Gerardo Gonzalez, Licensed Real Estate Agent at Compass
Watch: How Seaway North Became Miami's Most Expensive New Development
Frequently Asked Questions About Seaway North and the Surf Club
What is Seaway North at The Surf Club in Surfside?
Seaway North is a 10-unit ultra-luxury oceanfront condominium at 9165 Collins Avenue in Surfside, Florida, developed by Fort Partners. It is the second residential phase of the Surf Club complex, which also includes the original Seaway building and a Four Seasons Hotel. As of May 2026, total sales have reached $386.4 million across the 10 residences.
How much did the most expensive unit at Seaway North sell for?
Penthouse 10 at Seaway North sold for $64.5 million, or $7,414 per square foot, the highest price per square foot in any new Miami-Dade development on record. Penthouse 9 closed at $41 million ($5,190 per square foot) in May 2026. An earlier penthouse at the adjacent Seaway building sold for $86 million in November 2025, setting a county condo record at the time.
Who is Fort Partners and what is the Surf Club?
Fort Partners, led by developer Nadim Ashi, restored the historic 1930 Surf Club at 9011 Collins Avenue in Surfside and added two residential towers. The complex includes the Four Seasons Surf Club Hotel. Fort Partners acquired the Seaway North site for $41.5 million in 2023. Combined Surf Club sales across both residential phases have surpassed $500 million.
How does $7,400 per square foot at Seaway North compare to the rest of Miami?
According to The Real Deal, $7,414 per square foot at Seaway North PH 10 is the highest recorded in any new Miami-Dade development. Brickell branded residences typically trade at $2,500 to $4,000 per square foot in 2026. Sunny Isles Beach ultra-luxury averages $3,500 to $5,000 per square foot. Surfside's premium reflects ultra-low density and genuine oceanfront scarcity.
What does the Seaway North sellout mean for Surfside property values?
A $38.6 million average sale price across 10 units sets a new pricing ceiling for Surfside and confirms the Collins Avenue corridor as Miami-Dade's highest-priced-per-square-foot condo submarket. According to Miami Realtors, luxury condo sales above $1 million rose 21 percent year-over-year in Q1 2026. With Seaway North essentially sold out, comparable inventory in Surfside is virtually nonexistent through 2027.
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