The sellout has reached $386.4 million at Fort Partners’ recently completed condo building in its sprawling beachfront Surf Club complex.
Seaway North, at 9165 Collins Avenue in Surfside, has just 10 units and an average sale price of $38.6 million. While no one unit has set a market-wide price record, the average price across the building is unparalleled in any other new development in Miami-Dade County.
The Surf Club is garnering some of the highest prices per square foot in the South Florida condo market, with demand fueled by “it-building” status and a wealth migration to the region boosting ultraluxury sales. Brokers credit Seaway North’s pricing feat to Fort Partners’ collaboration with the Four Seasons brand, their execution of luxury finishes and the boutique nature of the project.
“Everything and anything at the Surf Club is considered to be best in class,” said Douglas Elliman’s top agent, Dina Goldentayer. “They can do no wrong.”
Seaway North is the latest installment at Fort Partners’ Surf Club, the redevelopment of a beachfront strip in Surfside that began with the Four Seasons Residences at the Surf Club. Ashi’s Fort Lauderdale-based Fort Partners, led by Nadim Ashi, completed the original two-tower Surf Club condos in 2017. Designed by Pritzker Prize winner Richard Meier and Miami architect Kobi Karp, it has 150 condos, a 72-key hotel, four pools and a Thomas Keller restaurant.
Since then, Ashi has added the 26-unit, 11-story Seaway South, which was completed in 2024 and designed by architect Joseph Dirand. A hidden buyer dropped a record $86 million on a penthouse in Seaway South in November, making it the most expensive condo ever sold in Miami-Dade County.
Ashi is also planning the 11-story, 17-unit Surf House at 8955 Collins Avenue. He bought the site from developer Jason Halpern for $60 million in 2024, and secured a $110.7 million construction loan for the project later that year.
Seaway South, Seaway North and Surf House residents all have access to the amenities at the Surf Club, in what brokers have described as a luxury “ecosystem” that checks all the boxes for South Florida’s ultra rich buyers. The price of the unit is merely the cost of entry –– HOA dues for one Surf Club unit on the market asking $31.5 million are estimated at $20,157 per month.
The Surf Club’s prestige is also part of the appeal, brokers said.
“It’s almost similar to 220 Central Park South or 80 Clarkson,” said Elliman’s Ruthie Assouline. “It’s like that club where they want to be there, there’s a certain caché to it.”
The Surf Club condos have attracted a wide swath of high-profile residents over the years, something agents say has made it a magnet for more big names.
Former Starbucks CEO Howard Schultz paid $44 million for a 5,500-square-foot penthouse in the Surf Club’s north tower in March. New York real estate developer Richard Cohen dropped $20.5 million on a 4,600-square-foot unit last month. Last year, freshly minted billionaire Daniel Nadler, the founder of an AI platform for medical research, bought a Surf Club penthouse for $38.2 million.
“It’s bringing and attracting the biggest buyers,” said Eric Johnson with One Sotheby’s International Realty. He described it as an unstuffy, clubby atmosphere where residents enjoy mingling with each other. “It’s good for business, it’s good for your social life.”
In the case of Seaway North, the who’s-who buying units have shielded their identities with LLCs and trusts. Here’s a look at the recorded deals in the building:
- Marinus Limited bought the 8,700-square-foot PH 10 for $64.5 million, or $7,414 per square foot. Condo documents show the unit spans two stories and includes a private pool.
- Hillcrest 901 Trust bought the 7,900-square-foot PH 9 for $41 million, or $5,190 per square foot.
- 801 SC North Trust dropped $40 million, or $5,063 per square foot, on the 7,900-square-foot unit 801.
- Fana Surf Club LLC paid $39 million, or $4,875 per square foot, for the 8,000-square-foot unit 701.
- Mazalmint Property LLC bought unit 601 for $41.2 million, or about $5,150 per square foot for the pad spanning 8,000 square feet.
- Surfside Trip 1963 dropped $37 million, or $4,625 per square foot, on unit 501, which has 8,000 square feet.
- Blue Water 92 LLC shelled out $40 million, or $5,889 per square foot, for the 7,900-square-foot unit 401.
- 527 Main Street LLC paid $31.8 million, or $5,889 per square foot, for the 5,400-square-foot unit 301, and another $1.7 million, or $3,935 per square foot, for a 432-square-foot caretaker’s unit.
- 9165 Collins Trust dropped $44.2 million, or $4,804 per square foot, on the 9,200-square-foot Beach Villa and another $6 million, or $4,615 per square foot) on the 1,300-square-foot unit 304.
Some Seaway North buyers are upsizing from units in the first Surf Club towers, brokers said.
The prices in the building are eye-popping but likely on the way up, Goldentayer said.
“I’m excited to see what the resales will look like there,” she said. “The sales you’re seeing, they seem high, but a lot of those were contracted two years ago.”
Demand is high and supply is low, even with Fort Partners’ pipeline of additional buildings in the Surf Club complex, Assouline said. She has a client looking for a Seaway unit, but there’s nothing available.
“If I found an 8,000-square-foot unit in Seaway South, he would pull the trigger today,” she said.
The limited inventory, coupled with pocket listings at make-me-move numbers, are driving prices even higher for the Surf Club and Seaway units. Goldentayer predicted that $6,000 per square foot would soon be the norm within the complex.
“There is no ceiling at the Surf Club,” she said.
