Witkoff and Monroe Capital unveil major redevelopment plan for the Shore Club in Miami Beach

Steve Witkoff and renderings of the Shore Club proposal (Witkoff, renderings via Kobi Karp)
Steve Witkoff and renderings of the Shore Club proposal (Witkoff, renderings via Kobi Karp) www.therealdeal.com

Proposal involves tearing down an existing tower and building a new high-rise in its place

After acquiring ownership of the Shore Club in Miami Beach, Witkoff and Monroe Capital are planning a massive makeover for the historic property.

The joint venture is seeking to tear down a 20-story tower and two-story cabanas built-in 1998 on the east side of the property at 1901 Collins Avenue, according to plans submitted to the city of Miami Beach. New York-based Witkoff and Chicago-based Monroe Capital would replace the David Chipperfeld-designed buildings with a new 17-story high-rise divided into 54 residences and 50 hotel rooms, the plans show.

A spokesperson for Witkoff and Monroe Capital did not immediately respond to a request for comment on the price the partnership paid to acquire the Shore Club from New York-based HFZ Capital Group. The financially troubled New York-based firm had listed the iconic property, featuring Miami Modern architecture, in December of last year. The hotel has been closed since the onset of the pandemic.

By Francisco Alvarado www.therealdeal.com
Read the full story www.therealdeal.com

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