La Perla Breaks Ground in Sunny Isles Beach

SUNNY ISLES BEACH, FL- Cornerstone Premier Communities has broken ground on La Perla Ocean Residences, a planned 42-story oceanfront condominium tower here. This follows a recently completed construction loan obtained by the developers for $86 million to build the project.

Located at 16701 Collins Ave., the property has been well-received in the market. More than 85% of La Perla residences have been sold in six months. That’s up from 70% sold at the beginning of February.

The first phase is sold out, and delivery is set for January 2005. The second phase includes prime units and penthouses from the 26th floor to the 42nd floor. That phase is more than 50% sold.