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Ziel Feldman Converting Shore Club into Condo-Hotel

$46.5 million condo penthouse remains unsold.

The Shore Club in South Beach,   Florida

Ziel Feldman’s HFZ Capital Group is planning on turning The Shore Club in South Beach, Florida, into a five star hotel and condominium The Real Deal Miami reported. Meanwhile a $46.5 million triplex penthouse at his firm’s The Marquand at 11 East 68th Street in Manhattan has been sitting on the market for months.

Located at 1901 Collins Avenue, the Shore Club currently has 309 rooms. Feldman plans to turn it into a 100 room hotel with 75 condominiums.

The buildings cannot be torn down because they are landmarks. As he told TRD, “The buildings are in the historic district so you can’t tear the buildings down. You need to restore them, and our 21-story tower will potentially have a whole different look, with a facade and exterior.”

The condominiums will start at $2 million and Feldman says that 20% of them are already sold.

Meanwhile the unsold penthouse at The Marquand has five bedrooms and seven and a half bathrooms over 7, 058 square feet. It also has 2, 984 exterior square feet of private terrace space. Its ceilings range from 10 to 11.5 feet in height and has a private elevator which opens up to the foyer.

The corner dining room offers multiple exposures and an oversized bay window. Adjacent to the living room and gallery is an expansive windowed eat-in-kitchen with center-island and family room. The second floor master suite features a private terrace, his and her dressing rooms and windowed his and her baths with a separate shower, soaking tub and vanities.

Also featured on the second floor is a great room surrounded by windows with French doors overlooking the residence’s wrap-around terrace with integrated outdoor kitchen. The third floor features two additional terraces facing north and south and a glass enclosed study or bedroom flooded with natural light.

From the listing: “Located on Madison Avenue and 68th Street, The Marquand is a New York City landmark, that represents a marriage of the finest in space and elegance. This Beaux-Arts Revival style building built in 1913, has been carefully restored and modernized by the award-winning architectural firms of Shelton, Mindel & Associates and Beyer Blinder Belle Architects. Each Residence is designed with meticulous attention to detail to underscore the grandeur of traditional interior spaces and highlight the generosity of proportion and space.”

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