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The City of Sunny Isles Beach has issued a Declaration of Local Emergency. Read Emergency Orders. The City of Sunny Isles Beach is closely monitoring the outbreak of 2019 novel coronavirus (COVID-19) through the Centers for Disease Control and Prevention (CDC), the Florida Department of Health (FDOH) and the Miami-Dade County Office of Emergency Management. Resort style pool, 1 cover parking space plus additional guest parking. Real Estate Agency - +1 (954) 995-3543 See details for 17021 N Bay Rd # 1016, Sunny Isles Beach FL 33160,Condominium for rent. The modern history of Sunny Isles Beach began in 1920 when a private investor bought 2.26 square miles of land in the area and named it Sunny Isles. The completion of the Haulover Bridge in 1925 made this area accessible from Miami Beach.
Developers of Regalia, a 46-story condo tower in Sunny Isles Beach, have taken out $27 million in financing for the building’s biggest, and priciest units.
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C1 Bank provided the funds to a company titled Regalia Beach Developers, led by Louis R. Montello. The company mortgaged Regalia’s most luxurious units that have yet to sell: No. 3 and No. 43.
What counts as spacious in a building where each residence takes up a full floor?
Unit three, dubbed the beach house, takes up two full floors for a whopping 9,915 square feet of living space. That includes a private spa and plunge pool, plus a 6,500-square-foot wraparound terrace.
Not to be outdone, Regalia’s penthouse (unit 43) takes up four full floors and measures 10,447 square feet. It comes with an extra 2,300 square feet of terraces and has a private rooftop pool, sun deck and spa.
The developer has filed a notice of commencement for both units to begin an “interior build out,” which hints at the use of the financing.
So far, closing prices have matched each unit’s grand size. Buyers have paid upwards of $12 million for a unit, while the beach house and penthouse are asking $27 million and $40 million, respectively.
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Regalia, at 19575 Collins Avenue, was completed last year. The tower reached $100 million in sales just two months after launching.
This year, four units have closed with prices ranging from $8 million to $12 million. The last recorded sale was for an $8.4 million unit that was sold to Alfredo Bubion, president of the Regional Steel Corp. Five units remain in the building, according to Miami-Dade County property records.