Two Ocean Drive Luxury Condos Continue South Pointe Growth

By Sherri C. Ranta
One Miami Beach condominium project where work had stalled in South Beach’s South Pointe neighborhood is going forward under a new builder and another will soon break ground.

Greenwald Financial Services awarded repair and completion work at 200 Ocean Drive and a new project at 226 Ocean to Miller & Solomon General Contractors of South Florida. Both will be handled by the firm’s special projects division, the arm specializing in projects priced from $500,000 to $10 million, said Miller & Solomon President Larry Kibler.

"This is a made-to-order situation for our special projects division. Projects of this size tend to be under-serviced," he said.

Workers at 200 Ocean will repair the partially constructed eight-story, 20-unit condominium, bringing the building up to code and design requirements. It was more than 50% complete when work was halted.

"There’s a lot of pressure to get in there," Mr. Kibler said.

Activity at that building has been nonexistent for several months, he said. Permits were issued about two months ago. Completion is expected in late summer, Mr. Kibler said.

Markus Frankel of Frankel & Associates, architect of record for 200 Ocean Drive, said a dispute between Greenwald Financial and first general contractor Arkbet Construction Inc. of Miami, resulted in the two going their separate ways.

Scott Greenwald of Greenwald Financial Services could not be reached for comment.

At 226 Ocean Drive, the firm will work from the ground up and will begin by repairing a foundation at the site, Mr. Kibler said. Plans call for an eight-story, 27-unit condominium with prices ranging from $400,000 to more than $1 million per unit. Completion is expected in 13 months.