The City of North Miami Beach presented the Key to the City to the developers of Marina Palms Yacht Club & Residences for turning an abandoned and dilapidated marina and restaurant into a 468-residence luxury waterfront condominium development. Neil Fairman and George Helmstetter of Plaza Equity Partners were recognized by the North Miami Beach City Commission for bringing an environmentally friendly project to the site and essentially putting the city back on the map. Marina Palms is the first condominium and private yacht club to be developed in more than two decades in Miami-Dade County.
“When Neil Fairman walked into my office in 2012, I was probably a little bit skeptical,” said North Miami Beach Mayor George Vallejo. “Many people come in with so many grand ideas that never come to fruition. But four years ago, the commission said yes to this one. What was once an isolated, commercial marina has turned a gorgeous development that also happens to produce revenues to our city in excess of a boost of more than 25 percent of the city’s property tax base, which is outstanding.”
“It’s an honor to be standing here and really humbling,” said Neil Fairman, Chairman of Plaza Equity Partners. “When we first came here the project was in great doubt. Without the leadership of the mayor and the city council, I don’t think we would have been able to get this project done.”
Just over a month ago, Marina Palms Yacht Club & Residences celebrated the grand opening of its second and most luxurious tower, the Reserve. The Reserve at Marina Palms is located on its own peninsula and consists of 234 residences in 25 stories offering spacious 2- and- 3- bedroom layouts with expansive views over the 112-slip marina, adjacent nature preserve, Miami skyline and the Atlantic Ocean.
Prices for the remaining residences start from $950,000 with penthouses from $1.2 million.