Jonathan Breene and John Conroy Jr. are developing the $150-million South Beach property. The property's developer, The Setai Group of New York City, is a privately held company that specializes in ultra-luxury boutique hotels and condominiums in the United States and the Caribbean.
Beers Construction is the project's builder. The residences are being created in collaboration with world-renowned hotelier Adrian Zecha. The Setai Resort and Residences will be the first property in the United States to be managed by General Hotel Management.
The property, located on 20th St. between Collins Ave. and the Atlantic Ocean, will offer varying floor plans in two-story townhouses, luxury condominiums and large penthouses with private terraces and outdoor lap pools.
Units will range from the low $700,000s to $12 million for the remaining penthouse. Nearly 40% of the units are valued at $1 million and up. So far, The Setai Resort and Residences is more than 80% sold.
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