Related Group, Dezer, and BH Group Plan 62-Story Sunny Isles Beach Tower

Three of South Florida's most powerful development groups have joined forces for what will become one of the tallest and most significant residential towers in Sunny Isles Beach. Related Group, Dezer Development, and BH Group are planning a 62-story, 820-foot tower with 145 ultra-luxury units on a 2-acre oceanfront site that formerly housed the Miami Beach Club. The project received approval from the Sunny Isles City Commission in February 2026, with completion targeted for December 2031. The $131.8 million site acquisition alone signals the scale of ambition here.

This is not a speculative filing or an early-stage concept. The approvals are in place. The developer group represents combined experience of hundreds of luxury towers across South Florida. And the site, one of the last 2-acre oceanfront parcels in Sunny Isles Beach, creates a natural competitive moat that future projects cannot replicate. The question for buyers is not whether this project will get built. It is whether the positioning, the timeline, and the market conditions make this the right entry point for one of Sunny Isles' most consequential developments.

Project Overview: The Essentials

Before analyzing the developer group, the competitive landscape, and the market dynamics, here are the fundamentals. The tower will rise on the former Miami Beach Club site, a 2-acre oceanfront parcel that the developer group acquired for $131.8 million.

At 145 units across 62 stories, the density is remarkably low. That translates to approximately 2.3 units per floor on average, which means most floors will have just two or three residences. For a tower of this height, that level of exclusivity is significant. Compare to Sunny Isles Beach projects like Porsche Design Tower at 132 units across 60 stories or Turnberry Ocean Club at 154 units across 54 stories. This project matches or exceeds the exclusivity profile of every major tower in the submarket.

The two 9,000-square-foot full-floor penthouses at the top of the tower will be among the largest residential units in Sunny Isles Beach history. At 820 feet, the views from those penthouses will extend from South Beach to Fort Lauderdale, with unobstructed Atlantic Ocean panoramas. The pricing for those units has not been disclosed, but comparable full-floor penthouses in Sunny Isles Beach and Bal Harbour have traded above $30 million in recent years.

The Developer Group: Three Powerhouses

The joint venture structure of this project is unusual and worth examining in detail. Three independent, well-capitalized developers bringing their respective strengths to a single project creates a development team with exceptional depth.

Related Group is led by Jorge Perez and is arguably the most prolific luxury residential developer in South Florida's history. Their portfolio spans decades and includes landmark projects across Miami, from the Related Group towers in Brickell to St. Regis Residences in Sunny Isles. Jorge Perez's involvement in any project signals serious intent, significant capital, and a track record of delivery that few developers can match.

Dezer Development is the dominant developer in Sunny Isles Beach, having built multiple iconic towers on the barrier island including the Porsche Design Tower, Residences by Armani/Casa, and several other branded luxury projects. No developer knows Sunny Isles Beach better than the Dezer family. Their local expertise, entitlement history, and contractor relationships in this specific submarket give the project an operational advantage that outside developers would struggle to replicate.

BH Group is a Brazilian-American investment firm with significant real estate holdings in South Florida, including involvement in several luxury residential and mixed-use projects. BH Group brings international capital relationships and a buyer network that extends into Latin America, a critical demand source for Sunny Isles Beach luxury product.

The combination of Related Group's scale, Dezer's Sunny Isles expertise, and BH Group's international capital network creates a development team that is arguably the strongest ever assembled for a single Sunny Isles Beach project.

The Site: Why 2 Acres Matters

Real estate is ultimately about land, and this project's 2-acre oceanfront site is its most irreplaceable asset. Sunny Isles Beach is a narrow barrier island with limited remaining developable oceanfront parcels. Most of the island's prime oceanfront has already been developed with towers over the past two decades. Finding a 2-acre assemblage with direct ocean access and entitlements for a 62-story tower is exceptionally rare.

The $131.8 million acquisition price reflects that rarity. On a per-unit basis, the land cost alone is approximately $909,000 per unit before a single dollar is spent on construction. That land cost basis establishes a pricing floor that will position this project firmly in the ultra-luxury segment. Developers do not acquire sites at $131.8 million to build moderately priced condominiums.

The 2-acre footprint also means substantially more ground-level amenity space than typical Sunny Isles Beach towers, which often sit on narrower lots. The padel court, sculpture garden, outdoor spa, and oceanfront pool all benefit from the site's generous footprint. Residents will have an outdoor amenity experience that is closer to a resort than a typical condo building. That is a direct function of the site size, and it cannot be replicated by competitors on smaller parcels.

Amenity Program: Curated for 145 Households

The amenity program for 145 ultra-luxury units needs to be considered in context. These are not amenities designed for 400 households. They are designed for 145, which means usage pressure is dramatically lower and the per-resident investment is dramatically higher.

The padel court is a telling amenity choice. Padel has become the preferred sport among Miami's ultra-high-net-worth community over the past three years, displacing tennis and pickleball in the luxury segment. Including a padel court signals that the developer group understands the current lifestyle preferences of their target buyer profile. It is a small detail that speaks to the overall programming philosophy.

The sculpture garden is another differentiator. Public art installations are common in commercial developments, but a private sculpture garden curated for 145 households creates a cultural dimension that most residential buildings lack entirely. For buyers who collect art or value cultural programming in their living environment, this is a meaningful amenity rather than a marketing talking point.

Competitive Positioning: Sunny Isles Beach Ultra-Luxury

Sunny Isles Beach has established itself as South Florida's premier destination for ultra-luxury branded and unbranded towers. The competitive set is formidable, and buyers evaluating this project need to understand how it stacks up against existing and upcoming product.

The most relevant comparison is to Bentley Residences, which is also being developed by Dezer and will reach 62 stories. The key differences are the developer consortium (three groups versus one), the site size (2 acres versus a standard lot), and the unit count (145 versus 216). The Related/Dezer/BH tower will be more exclusive per floor, have more ground-level amenity space, and carry the combined reputational weight of three major developers.

Against the delivered Porsche Design Tower, which has established a strong resale market at premium pricing, the new project benefits from newer construction, a larger site, and the momentum of the combined developer group. Porsche Design Tower's car elevator innovation was groundbreaking, and this new project will need its own defining feature to command comparable attention. The 9,000-square-foot penthouses and the sculpture garden may serve that purpose, but the project's final design details will determine whether it achieves the same cultural impact.

Market Context: Sunny Isles Beach in 2026

Sunny Isles Beach occupies a unique position in Miami's luxury market. The submarket draws heavily from international buyers, particularly from Latin America, Russia, and the Middle East. Cash transactions dominate, with over 70% of luxury sales in the submarket closing all-cash. That cash-buyer dominance provides structural insulation against interest rate sensitivity and lending market volatility.

The December 2031 completion target means buyers are committing capital with a five-year horizon. That is a meaningful timeline in any real estate market, and it introduces both opportunity and risk. The opportunity is that early buyers in pre-construction typically secure pricing below what the delivered product commands. The risk is that macro conditions, construction costs, or market dynamics can shift significantly over five years.

For Sunny Isles Beach specifically, the supply pipeline is a relevant consideration. Bentley Residences is under construction. This project will break ground in the coming years. Several smaller projects are in various stages of planning. The total number of new ultra-luxury units entering the Sunny Isles Beach market between now and 2032 will be substantial. Buyers should evaluate not just this project in isolation but the cumulative supply impact on pricing and absorption.

Risk Factors and Honest Assessment

The December 2031 completion target is the most significant risk factor for buyers. Five years is a long time to have capital committed to a pre-construction project. During that period, interest rates, immigration policy, international capital flows, and construction costs can all shift in ways that impact the project's market position at delivery. Buyers must have genuine long-term conviction in both Sunny Isles Beach and this specific project to commit at this stage.

The $131.8 million land cost creates a high floor for unit pricing. While this protects against the developers underpricing the product, it also means that if the ultra-luxury market softens over the construction period, the developers have limited room to adjust pricing downward. The economics of the deal require premium pricing at delivery.

The three-developer joint venture is a strength in terms of capital and expertise but can create decision-making complexity. Three independent organizations with their own priorities, design preferences, and financial objectives must align on every major decision throughout a five-year development process. The track records of all three groups suggest they can navigate this, but it is a structural consideration that single-developer projects do not face.

Construction cost uncertainty from tariffs and labor market conditions will directly impact a project with a multi-year build timeline. The developers will need to manage cost escalation through the construction period, and any significant overruns could impact the quality of finishes, the amenity program, or the project timeline. Buyers should ask direct questions about cost management strategies and contractual protections.

Gerardo's Take: Who This Project Is For

This project works for: Ultra-high-net-worth buyers who want to secure a position in what will likely be one of Sunny Isles Beach's most exclusive towers. International buyers, particularly from Latin America, who are familiar with all three developer groups and trust their delivery track records. Long-term buyers who are comfortable with a five-year commitment and believe in Sunny Isles Beach's trajectory as an ultra-luxury destination. Buyers seeking the two 9,000-square-foot penthouses, which will be among the most significant residential offerings in Sunny Isles Beach history.

This project does not work for: Buyers who need delivery within two to three years. The December 2031 timeline is firm and likely to extend rather than accelerate. Short-term investors looking for quick returns in a market with elevated valuations. Buyers who are uncomfortable with the joint-venture structure and the coordination it requires. Anyone comparing purely on price per square foot without considering the site, the developer group, and the 145-unit exclusivity.

The combination of Related Group, Dezer, and BH Group on a 2-acre oceanfront site with only 145 units is a rare convergence of developer talent, site quality, and product positioning. This project will redefine the Sunny Isles Beach skyline and establish a new benchmark for the submarket. But it requires patient capital, long-term conviction, and honest assessment of the five-year timeline. If those conditions match your buyer profile, this is one of the most compelling pre-construction opportunities in South Florida.

Frequently Asked Questions

What is the Related/Dezer/BH Group Sunny Isles tower?

It is a planned 62-story, 820-foot ultra-luxury residential tower featuring 145 units on a 2-acre oceanfront site in Sunny Isles Beach. The project is a joint venture between Related Group, Dezer Development, and BH Group. The developers acquired the former Miami Beach Club site for $131.8 million and received approval from the Sunny Isles City Commission in February 2026. Completion is targeted for December 2031.

Who is developing the Sunny Isles Beach tower?

The project is a three-way joint venture between Related Group (led by Jorge Perez, one of South Florida's most prolific luxury developers), Dezer Development (the dominant developer in Sunny Isles Beach, responsible for Porsche Design Tower and Residences by Armani/Casa), and BH Group (a Brazilian-American investment firm with significant South Florida real estate holdings). The combined expertise represents hundreds of completed luxury towers.

What amenities will the tower include?

Planned amenities include two 9,000-square-foot full-floor penthouses, a padel court, sculpture garden, outdoor spa, oceanfront pool deck, fitness center, and direct beach access. The 2-acre site provides substantially more outdoor amenity space than typical Sunny Isles Beach towers, allowing for resort-scale ground-level programming that smaller lots cannot accommodate.

When will the Sunny Isles tower be completed?

The project received approval from the Sunny Isles City Commission in February 2026, with completion targeted for December 2031. The five-year timeline accounts for pre-sales, construction permitting, and a build period appropriate for a 62-story, 820-foot tower. Buyers should plan for a long-term capital commitment consistent with this timeline.

How much did the developers pay for the site?

The developer joint venture acquired the former Miami Beach Club site for $131.8 million. The 2-acre oceanfront parcel is one of the largest remaining developable oceanfront sites in Sunny Isles Beach. On a per-unit basis, the land cost alone is approximately $909,000 per unit, establishing a high pricing floor for the finished product and confirming the project's ultra-luxury positioning.

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Market data as of April 2026. Sources: Sunny Isles City Commission records, Miami-Dade County public records, The Real Deal, South Florida Business Journal. This article is for informational purposes only and does not constitute financial or investment advice.

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