Crews have begun driving foundation piles at 7200 Collins Avenue, the 12-story, 222-unit luxury condo rising in North Beach.

Foundation Work Marks First Visible Progress Since March Groundbreaking

Footage posted on LinkedIn by general contractor Ortega Construction Company shows production piles and wells being mobilized at the Collins Avenue and 72nd Street site, Florida YIMBY reported Wednesday. The milestone marks the first visible ground-level construction since the project's March 11, 2026, groundbreaking.

Developer Reports Sales Near Full Capacity, $85M Construction Loan

New York-based developer Northlink Capital, led by president Robert Rosenthal, had sales at 93% under contract at the March ceremony. By July, that figure climbed to 96%, or 213 of 222 units. That same month, Deutsche Bank closed an $85 million construction loan to fund the build through completion, according to Commercial Observer. Arrow Real Estate Advisors arranged the financing.

Site's History Traces to 2021 Foreclosure Purchase

Rosenthal bought the 0.57-acre site for $17.3 million out of foreclosure in 2021, after several low-rise commercial buildings on the parcel were demolished. He won approval from the Miami Beach Design Review Board in 2022 and launched sales in April 2025 with prices starting at $600,000, according to The Real Deal. By the March groundbreaking, pricing averaged in the $860,000s.

Developer, Sales Chief Cite Neighborhood's Growing Appeal

"7200 Collins reflects how much North Beach's luxury residential scene has grown," Rosenthal said at the March 11 groundbreaking. OneWorld Properties CEO Peggy Olin, whose firm leads sales, said at the same event that buyer interest reflects the neighborhood's growing appeal.

Building Design Features Rounded Corners, Rooftop Cinema

Designed by Revuelta Architecture International, the 274,150-square-foot building will feature rounded corners, continuous balcony lines and upper-level setbacks. Units range from 400-square-foot junior one-bedrooms to layouts exceeding 1,000 square feet, with fully furnished interiors by Adriana Hoyos Design Studio. The building allows short-term rentals.

The building includes amenities on three levels: a third-floor pool deck, fitness center and coworking space; an eighth-floor sunset deck with a second pool; and a rooftop terrace with an outdoor cinema. Ground-floor retail will line Collins Avenue.

Tower Is One of Eight in North Beach's Development Pipeline

The project is one of eight residential towers in North Beach's development pipeline, The Real Deal reported in August. Much of that activity traces to a 2018 city ordinance that raised height limits in the North Beach Town Center district to 200 feet through a public benefits program. Miami Beach voters approved the zoning change in November 2017 with 58.64% support.

Completion is scheduled for late 2027.