Located at 18215, 18225 and 18235 Collins Ave., the property will be the location of the Trump Royale Condominium Residences--$200 million, 333-residence luxury tower reaching 550 feet high upon completion. The 55-story project, currently in the design phase, is part of the planned $600 million, three-phase Trump Grande Ocean Resort and Residences here. The Trump Royale planned to begin pre-construction sales in November.
Father and son team Michael and Gil Dezer are the developers. The Dezers and their company, Dezer Properties, have been very aggressive in real estate development, particularly in the Sunny Isles Beach market.
In a separate deal, Michael Dezer recently traded the Driftwood Motel for the Days Inn Motel down the street at 15811 Collins Ave. He bought the Driftwood Motel for $4.2 million in 1997. The Days Inn tract has building plans approved. A spokeswoman would not disclose the plans at press time but did confirm they were to develop another condominium project separate from the Trump Grande Ocean Resort and Residences project.
The Days Inn sits on 1.79 acres of oceanfront property. It has been appraised for $8 million, or $4.47 million per acre.
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