Aurora Sunny Isles Beach has announced the sale of 5,382 square feet of ground-floor commercial real estate at the luxury residential project to an international investor for $5.5 million – or about $1,022 per square foot.

The commercial sale comes at a time when developer Verzasca Group is preparing to begin construction at Aurora this summer. Aurora is a new boutique luxury condominium project with 61 residences at 17550 Collins Avenue in Sunny Isles, one of the world’s most sought-after destinations. It is the first project to be developed on the west side of Collins Avenue – or A1A – in more than a decade.

Aurora’s two and three-bedroom residences range from 1,385 to more than 2,150 square feet. Prices start in the $900,000s, making it the most attainable luxury project on Sunny Isles.

“We are thrilled to complete this commercial sale in advance of commencing vertical construction at Aurora,” said Verzasca Managing Director Tim Lobanov. “This transaction shows that the demand for Sunny Isles real estate transcends the residential sector.”

Alex De Leon of Fortune International Realty represented the undisclosed buyer in the transaction. De Leon specializes in working with buyers and sellers of luxury real estate throughout Miami, including in Aventura, Bal Harbour, Brickell, Downtown Miami, Miami Beach and Sunny Isles.

John Warsing, Director of Sales with Aurora, represented the project in the deal.

“It was a privilege to work with Alex and his client on this deal,” said Warsing. “Having known and worked with Alex for nearly 20 years, it made what could have been a complex transaction very smooth and easy. I look forward to continuing to work with Alex on residential transactions at this project.”

De Leon said this particular investor considered the commercial real estate at Aurora to be a “trophy property” in an area where prime acquisition opportunities are hard to come by. He also cited the large size of the commercial space, with 15-foot ceilings, and the allocation of 31 parking spaces as motivating factors for the buyer.

“Sunny Isles is a hot area known for its luxury condos,” said De Leon. “But it is extremely difficult to find commercial real estate investments there. Aurora is a fantastic project, and the timing for this opportunity was perfect.”

For more information about Aurora, visit www.aurorasunnyislesbeach.com.

About Aurora:

Aurora is a new luxury condominium project with 61 residences at 17550 Collins Avenue in Sunny Isles Beach, one of the world’s most sought-after destinations. The boutique building’s two and three-bedroom residences range from 1,385 to more than 2,150 square feet. Prices start in the $900,000s, making it the most attainable luxury project on Sunny Isles Beach. Aurora’s resort-style amenities include private sundecks with cabana lounges, a half-Olympic length pool, fitness center, indoor and outdoor yoga lounges and a Hammam spa. Residences are equipped with smart-home ready technologies, 10-foot ceilings, floor-to-ceiling windows and private elevator entry. South Florida-based Verzasca Group is developing Aurora as part of an intimate collection of boutique residences in Sunny Isles Beach and Bay Harbor Islands. Renowned architect Luis Revuelta of Revuelta Architecture is the building’s designer. Internationally acclaimed Antrobus + Ramirez is the project’s interior designer, with Nielsen Landscape Architects overseeing the landscape design. For more information, visit www.aurorasunnyislesbeach.com.

About Verzasca Group:

Based in South Florida, Verzasca Group is a privately held real estate firm with direct hands-on experience in the acquisition, development, financing, operation and marketing of residential and commercial real estate. The firm operates with a mission to create more than new buildings – it strives to build communities. Its commercial and residential projects draw from and enhance the best attributes of each community, using materials of the highest quality and partnering with the industry’s finest architects, designers, landscape artists and craftsmen to deliver modern beauty and simplicity for an impressive value. Verzasca’s recent projects include Aurora, Le Jardin and Pearl House, among others. Learn more at www.verzasca-group.com.