The City’s Design Board will consider the application for a 24,800-square-foot lot at 6940 Abbot, Miami Beach, FL., to build a condo.
AT&T agreed to sell the property to 6940 North Beach, LLC, co-owned by Eduardo Otaola of Constellation Group, Jose Boschetti of Boschetti Group, and Rainer Viete of Vietnam.
Otaola said that the land is in Miami Beach’s North Beach Town Center District, which has a quicker development approval process.
Otaola also noted that his team recently acquired the property for $5.5M.
The site plan calls for a 10-story building, totaling 134,573 square feet with 96 condos, 2,192 square feet of retail and 90 parking spaces. There would be a lobby on the ground floor with co-working space, and a rooftop amenity area featuring a pool, fitness center and pickleball court.
Otaola said he’s also considering an in-house golf cart that would transport residents to the beach, 3 blocks to the east.
The condo would range 437-square-foot studios to 1,030 square feet with two bedrooms. The condos would start under $1M. His team is likely to permit short-term rentals in the building. The North Beach Town Center District permits short-term rental condos, he said. Of course, each condo building has association rules governing the frequency of the rentals. He plans to launch sales for the condo in the second quarter of this year. Miami-based Architectonica designed the project.