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- 👀 An $26M Old Hotel in Miami Beach Might Become Your Next Favorite Luxury Spot
👀 An $26M Old Hotel in Miami Beach Might Become Your Next Favorite Luxury Spot
Check out how Miami's wealth, culture, industry, and real estate is booming this week!
Joe Biscaha
January 23, 2026
Happy Friday, Miami!
In this week’s update:
➡️ Waymo has launched a limited autonomous ride-hailing service in Miami, letting a select group of early users hail fully driverless rides within a 60-square-mile area as the company begins public operations in the city.
➡️ A historic Miami Beach hotel just sold for $26 million... but it’s what’s replacing it that has North Beach buzzing. A 17-story luxury project is in the works, complete with oceanfront views, massive condos, and big-name backers.
➡️ A new luxury residential project designed by David Chipperfield has been unveiled in the Miami Design District, adding another high-profile development to the area’s growing skyline.
In case you missed it
🎥 What Do People Really Think About
Living in Miami?
Reacting to real Reddit comments to reveal the truth about Miami's polarizing transformation in 2026. With median home prices at $600,000, a 74.9 cost of living index, and $5.5 billion in venture capital, neighborhoods like Wynwood and Brickell are changing fast.
$26M Hotel Buy Signals New Luxury
Era for North Beach
Driving the news: Delray Beach-based Kolter Group, in partnership with BH Group, bought the Normandy Plaza Hotel in Miami Beach for $26 million as part of a high-end condo redevelopment project.
Details:
The 63-unit hotel, built in 1936 at 6979 Collins Ave., was sold by Vilarino Property Group.
The acquisition includes a $41 million mortgage from Wells Fargo, which also covers the neighboring Crystal Beach Suites, bought for $24 million in 2023.
Kolter plans to replace both hotels with a 17-story condo tower featuring:
37 luxury units
947 sq. ft. of retail space
86 parking spots
A beachfront pool and a 4th-floor amenity deck
Units will average nearly 2,911 sq. ft., catering to high-net-worth buyers.
The design is by Miami-based Kobi Karp Architecture.
Why it matters: North Beach has become a target for upscale development as buyers seek quieter alternatives to South Beach. This project brings more investment and future tax revenue to a neighborhood gaining momentum as a residential destination.
The big picture: While Surfside and other nearby areas have seen a surge in luxury condos, North Beach is now joining the trend. Projects like Kolter’s reflect growing demand for large, beachfront homes in lower-density areas of Miami.
Between the lines: Kolter Group declined to comment, but the scale of the investment—especially in combining two properties and securing substantial financing—suggests confidence in North Beach's rising appeal.
What’s next: The project still needs full city approval. If it moves forward, it could shift North Beach’s image from vintage vacation spot to a premium living destination.
Real Estate Insights
Best things to do this weekend
Avenue of the Arts (AOTA) Fest
Back for its fourth year in Fort Lauderdale, AOTA Fest aims to reconnect public school students with arts education through mural field trips, artist interactions, and hands-on activities. The five-day festival benefits more than 300 students and opens to the public over the weekend with guided mural tours, spray paint battles, and a custom AOTA beer.
📍 Historic Sistrunk, Fort Lauderdale
📅 Jan 21 – 25
🎟️ Free (via Eventbrite)
MORE INFO→
Pegasus World Cup at Gulfstream Park
The prestigious Pegasus World Cup returns to Hallandale Beach with a full day of elite horse racing, high-fashion energy, celebrity sightings, and upscale dining. Live performances by Empire of the Sun and Brian Newman add to the electric atmosphere, making this one of South Florida’s most anticipated social events of the year.
📍 Gulfstream Park, Hallandale Beach
📅 Jan 24 | 9 AM
🎟️ $135 – $1,039
MORE INFO→
Flamingo Flea at Tarpon River Brewing
Flamingo Flea brings together local vendors, craft beer, and live music inside a relaxed brewery setting. It’s a great opportunity to shop small, discover local artisans and entrepreneurs, and enjoy a laid-back Sunday afternoon while supporting the South Florida creative community.
📍 Tarpon River Brewing, Fort Lauderdale
📅 Jan 25 | 12 PM
🎟️ Free
MORE INFO→
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Have a great weekend!!
-Joe