MIAMI-Mickey Mouse isn’t coming to South Beach, but the city is getting a new condo project sponsored by an investment fund Walt Disney’s nephew Roy E. Disney founded. The fund plans to construct a five-story condo with 70 units.
Palau Sunset Harbour and members of Disney’s Shamrock Holdings of Southern California will formally unveil plans for the new project on Jan. 24. Dubbed Palau at Sunset Harbour, the project will span 109,300 square feet at 1201 20th St. west of Alton Road and east of Publix, according to Condo Vultures.
Peter Zalewski, principal at Condo Vultures, tells GlobeSt.com plans call for 43 units with 500 to 999 square feet, 12 units at 1,000 to 1,200 square feet, and 15 units with more than 1,200 square feet. He points to Miami-Dade County records that show the site was acquired in two transactions that totaled $8.2 million, or about $150 a square foot.
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