Luxury Miami Tower on Collapse Site Fails to Sell a Single Unit
A glittering new oceanfront tower in Miami, promising 'mansions in the sky' with billionaire-level amenities, has failed to attract the super wealthy, with not a single unit sold more than a year after its soft launch. The Delmore, a 12-story ultra-luxury condominium planned for the former site of Champlain Towers South in Surfside, where 98 people died in a tragic building collapse in 2021, is marketed as the pinnacle of modern coastal living. Despite its lavish features, the project faces significant hurdles, including deep-seated stigma and market skepticism.
Lavish Features and High Price Points
The development, designed by the renowned Zaha Hadid Architects, includes 37 sprawling residences, private elevators, and a sky pool suspended over 100 feet in the air. Prices start at $15 million, with typical units ranging from $35 million to $40 million, and penthouses expected to exceed $150 million. However, more than a year after its initial soft launch in early 2025, developers have not secured any signed contracts, highlighting a stark disconnect between the project's ambitions and buyer interest.
Developer Admits Missteps and Challenges
Damac Properties, the Dubai-based developer behind The Delmore, has acknowledged multiple issues. Jeffrey Rossely, senior vice president of development, admitted that the 2025 launch was rushed and poorly timed, failing to align with buyer demand. He cited broader challenges, including skepticism toward the company's lack of track record in the US luxury condo market. Rossely noted that several deals have fallen through, including one involving over $200 million worth of units, which collapsed due to concerns over funding sources.
Stigma and Controversy Surrounding the Site
The redevelopment of the Surfside collapse site has remained deeply controversial. Many families of victims and locals argue that the land should have been preserved as a memorial rather than transformed into ultra-luxury housing. This stigma has weighed heavily on the project, with local developers and brokerages reportedly steering clear. Nick Green, a Compass agent, stated that while foreign buyers might see it as an investment, local buyers avoid it, with some fearing it will be 'full of ghosts.'
Families' Outrage and Memorial Disputes
Victims' families have expressed outrage over being excluded from redevelopment plans. Martin Langesfeld, who lost his sister and brother-in-law in the collapse, described the land as 'sacred' and accused developers of showing a 'total lack of respect.' Families had pushed for a tribute on the site itself, but the current plan places a memorial one block away, fueling further anger. Langesfeld emphasized that residents of the new building will be constantly reminded of the tragedy.
Ongoing Investigation and Safety Concerns
Adding to the project's challenges, the investigation into the 2021 collapse remains ongoing, with a final report from the National Institute of Standards and Technology not expected until late 2026. Federal officials have identified the building's pool deck as the likely origin point, citing severe structural weaknesses. Langesfeld criticized the prolonged timeline and alleged that independent investigations have been blocked, raising questions about land safety for development.
Market Impact and Future Plans
The fallout from the Surfside tragedy has triggered stricter safety laws, soaring insurance costs, and a decline in Miami's condo market, with some properties losing up to 20% of their value in two years. Despite the slow start, Damac Properties is exploring a potential joint venture with another developer to revive momentum. Rossely insisted the company has no plans to walk away, with completion due in 2028, and is resubmitting permits and planning a sales relaunch later this year.
