30 Oct The Planned Condo at 301 Ocean Drive, Key Biscayne: Status and Sources (2026)

The Planned Condo at 301 Ocean Drive, Key Biscayne: Status and Sources (2026)

The planned condo at 301 Ocean Dr in Key Biscayne is a planned 56-residence building by a partnership of Terra and Fortune International Group on the former Silver Sands Beach Resort site. The developers paid $205 million for the site in April 2025, a record for land on Key Biscayne, according to The Real Deal. As of October 30, 2026, no official name, prices or sales launch had been announced.

Everything on this page comes from public records and news reports, and each fact is credited in the Sources section below. This is a planned building, so details can change; confirm them with the developer or sales team before you rely on them.

At a Glance

Prices and Current Listings

The developers had not announced prices or opened sales as of October 30, 2026, and no residences were listed for sale. Islander News reported in December 2025 that a small business center in the Village’s new Entry Block development will first be used as a sales office for the condo.

Construction Status

The Village Council approved the project in October 2024, including an ordinance allowing the site’s hotel units to be converted to residences, three variances and the site plan, according to Islander News (October 23, 2024); The Real Deal (October 25, 2024) reported the site plan and two variances. Terra and Fortune bought the site for $205 million in April 2025 (The Real Deal, April 10, 2025). Demolition of the Silver Sands Beach Resort was in its fourth week in May 2026 (Islander News, May 21, 2026). Commercial Observer reported in April 2025 that construction was expected to start in late 2026. As of October 30, 2026, we found no report that vertical construction had begun, and the developers had not announced a completion date.

What Public Records and News Reports Say

• Residences: 56 in every report we found, including The Real Deal (October 25, 2024) and Islander News (May 21, 2026).
• Height: 14 stories according to WLRN (June 20, 2024), The Real Deal (October 25, 2024) and Islander News (May 21, 2026); 13 stories according to South Florida Business Journal via Florida YIMBY (October 24, 2024) and Commercial Observer (April 10, 2025). The approved height limit is 150 feet (Islander News, October 23, 2024).
• Residences of about 3,354 to 4,788 square feet with private pools, top-floor residences of just over 8,000 square feet, and 221 underground parking spaces were reported by South Florida Business Journal via Florida YIMBY (October 24, 2024).
• Name: the developers have not announced a name or brand. Names used on some broker websites are not confirmed by the developers or by news reports.
• Key Biscayne Park Acquisition LLC, which owns units in the north tower of neighboring Oceana Key Biscayne, challenged the Village approval before a three-judge panel of the Miami-Dade Circuit Court sitting as an appeals court (WLRN, April 11, 2025). A Key Biscayne Independent headline dated April 13, 2025 reports that the challenge was denied, and an Islander News headline reports that construction on the site can proceed.
• A Miami-Dade County Property Appraiser search of 301 Ocean Dr on October 30, 2026 showed one parcel, still recorded as a motel, and no residential condominium units on the tax roll yet. Units usually appear after the condominium is recorded and the county’s next update.

Inspections and Reserves for a New Building

A new condominium’s inspection timeline starts from its certificate of occupancy. Florida requires the developer to obtain a structural integrity reserve study before turning the association over to owners, and Miami-Dade County’s recertification program applies at 25 years to condominium buildings three stories or taller within three miles of the coastline. Ask the sales team for the reserve study and the proposed budget before you sign.

What Buyers Should Ask For

• The milestone inspection summary, if the building has had a milestone inspection (ask for any Phase 2 report too)
• The most recent structural integrity reserve study, or a statement that none has been completed
• The annual budget and financial statement, plus the reserve balance and any special assessments
• Board minutes from the past year, for planned repairs

For a resale, Florida law (section 718.503(2)) entitles the buyer, at the seller’s expense, to the declaration, articles, bylaws and rules, annual financial statement and budget, Q&A sheet, milestone inspection summary (if applicable), the most recent SIRS or a statement that none exists, and any turnover inspection report. Unless the buyer received them more than 7 days before signing, the buyer may cancel within 7 days (excluding weekends and legal holidays) after signing and receiving them, until closing. A buyer purchasing from the developer has 15 days (section 718.503(1)). Board minutes, reserve balances and special-assessment details are not on the statutory list; request them separately. Read our complete guide to Florida condo milestone inspections and SIRS.

Full list: see our Florida condo due diligence checklist, with every document to get before you sign and the Florida statute behind each one.

Frequently Asked Questions

How much will a residence at 301 Ocean Drive cost?

No prices have been announced. The Real Deal calculated the land cost at about $3.7 million per planned residence (April 10, 2025); that is a land figure, not a sale price.

When will the building be finished?

The developers had not announced a completion date as of October 30, 2026. Commercial Observer reported in April 2025 that construction was expected to start in late 2026.

Where exactly is it?

At 301 Ocean Drive, Key Biscayne, FL 33149, on the site of the former Silver Sands Beach Resort, next to Oceana Key Biscayne.

More Key Biscayne Condos

• Every Key Biscayne condo from $1 million
• Oceana Key Biscayne
• Casa del Mar
• Key Biscayne, FL guide (2026)
• Florida condo milestone inspection and SIRS guide (2026)

Sources

• The Real Deal, April 10, 2025 ($205 million purchase; seller; land cost per planned unit): source
• The Real Deal, October 25, 2024 (Village approval; 56 residences; 14 stories; Touzet Studio): source
• Commercial Observer, April 10, 2025 (address; Terra and Fortune; 13 stories; Raymond Jungles; construction expected late 2026): source
• Islander News, October 23, 2024 (Village Council approval; 150-foot height limit): source
• Islander News, May 21, 2026 (demolition under way; 56 residences; 14 stories): source
• Florida YIMBY, citing South Florida Business Journal, October 24, 2024 (13 stories; residence sizes; parking; ODP Architecture & Design): source
• WLRN, June 20, 2024 (14 stories; zoning change): source
• WLRN, April 11, 2025 (court challenge by an Oceana owner): source
• Islander News (headline: construction on the Silver Sands site can proceed): source
• Key Biscayne Independent, April 13, 2025 (headline: challenge denied by appeals court): source
• Islander News, December 31, 2025 (sales office in the Entry Block business center): source
• Asking prices: active, pending and under-contract MLS listings shown on floridasearch.com, checked October 30, 2026
• Tax roll: Miami-Dade County Property Appraiser search, checked October 30, 2026

Last updated October 24, 2026. Building details come from county property records, public listings and government sources and are deemed reliable but not guaranteed. Prices are asking prices or estimates as of the date shown. Not legal, financial or engineering advice. Full disclaimer