A 37-unit Zaha Hadid-designed tower is rising on the former Champlain Towers South site in Surfside. Sales launched in January 2025. As of April 2026, zero contracts have been signed. The surrounding market is thriving, so the question is whether this is about the site's history or the pricing.
Key Takeaways
- The Delmore, a 12-story, 37-unit luxury tower designed by Zaha Hadid Architects, has not signed a single contract since sales launched in January 2025.
- Most units are priced between $35 million and $40 million, with penthouses potentially exceeding $150 million.
- The surrounding Surfside market is strong, with condo sales up 57% and average prices up 23% to $6.1 million in Q1 2026.
On June 24, 2021, Champlain Towers South collapsed at 1:22 AM, killing 98 people. It remains the deadliest unintentional structural collapse in U.S. history. The site at 8777 Collins Avenue in Surfside was sold at a court-ordered auction in 2022, with proceeds distributed to former owners and victims' families.
DAMAC Properties, a Dubai-based developer, was the sole bidder at $120 million. According to The Real Deal, their planned luxury tower, The Delmore, has not signed a single contract since sales launched in January 2025. The developer is now planning a relaunch for the end of 2026.
What is DAMAC building?
The Delmore is a 12-story, 37-unit luxury condominium designed by Zaha Hadid Architects. The sales gallery opened in May 2025.
Pricing starts at $15 million. Most units are priced between $35 million and $40 million. Penthouses could potentially exceed $150 million.
DAMAC SVP Jeffrey Rossely told The Real Deal that the January 2025 soft launch was "premature." The sales gallery was not finished until May 2025, and the market did not pick up after the presidential inauguration as expected.
The developer came close to a deal. Contracts were issued to a buyer for more than $200 million worth of units, but DAMAC walked away over concerns about the source of the buyer's funding. Zero completed sales is not the same as zero interest.
Is the problem the site or the pricing?
As Larry Mastropieri explained on the Discover South Florida Podcast: "They're trying to make it sound like the problem is the tragedy tied to the site, and I understand that could be part of it. But for me, the bigger issue is that the price is wildly high. At some point, enough is enough. Don't get me wrong, the project is epic, and it's really nice. It's a 12-story, 37-unit building designed by Zaha Hadid Architects, so they clearly went big. But when most units are priced around $35 million to $40 million, that is a very different buyer pool."
The surrounding Surfside market tells a different story than The Delmore's sales pace. According to Corcoran Group data reported by The Real Deal, Surfside condo sales rose 57% in Q1 2026. Inventory fell 25%. Average condo prices climbed 23% to $6.1 million.
Howard Schultz (former Starbucks CEO) paid $44 million for a penthouse at the Surf Club in March 2026, nearly $8,000 per square foot. A lower-level Surf Club unit recently traded at $4,400 per square foot. The luxury market in Surfside is active and appreciating.
Considering luxury condos in Miami Beach or Surfside? Talk to a real estate agent in South Florida who understands how ultra-luxury pricing compares across submarkets. Reach out to The Mastropieri Group or call (561) 544-7000.
How does pricing compare to nearby projects?
Mastropieri added: "You are right across from Indian Creek, and that matters. You have some of the wealthiest people in the world nearby, including Bezos, Zuckerberg, and others. But even with that kind of neighborhood context, the pricing still has to make sense."
The evidence points to site-specific challenges combined with aggressive pricing, not a market problem. Every project near the collapse site has performed strongly:
Surf Club Four Seasons (0.2 miles away): Recent trades at $4,400 to $8,000 per square foot. Howard Schultz paid $44 million in March 2026.
Arte Condominium (2 blocks away): Sold a $12 million unit during the rescue operation itself in June 2021. Active market with no sales disruption from proximity.
Residences at Bal Harbour (0.7 miles away): Related Group bought the Carlton Terrace site for $130 million two months after the collapse. The 61-unit SOM-designed replacement is in development with no reported sales resistance.
The stigma appears to be uniquely concentrated at the specific address where the tragedy occurred, not in the surrounding market.
What is DAMAC's plan?
DAMAC is resubmitting its master building permit, working on insurance, and selecting a general contractor. A sales relaunch is planned for the end of 2026. Joint venture discussions are reportedly ongoing.
Local developers and brokerages largely stayed away from the project due to the site's history. DAMAC was the only bidder at the 2022 auction. Some community members and victims' families had advocated for the site to become a memorial, but the court ruled the site would be sold.
Buyer feedback has included reluctance to be the first purchaser. That hesitation, combined with pricing that starts at $15 million and averages $35 million to $40 million, creates a significant sales challenge regardless of the site's history.
Watch More on This Topic
Watch: The Delmore Surfside Segment ・ Full Episode: DSF Live Ep. 77 ・ Last Week's Recap: Ep. 76
Frequently Asked Questions
What is The Delmore in Surfside?
The Delmore is a 12-story, 37-unit luxury condominium designed by Zaha Hadid Architects at 8777 Collins Avenue in Surfside. It is being built on the former site of Champlain Towers South, which collapsed in June 2021. DAMAC Properties acquired the site for $120 million in 2022.
How much do units cost at The Delmore in Surfside?
Pricing starts at $15 million. Most units are priced between $35 million and $40 million. Penthouses could potentially exceed $150 million.
Why has The Delmore not sold any units?
As of April 2026, zero contracts have been signed since sales launched in January 2025. Contributing factors include the site's history, aggressive pricing relative to the market, buyer reluctance to be the first purchaser, and a soft launch that preceded the sales gallery opening.
Is the luxury condo market in Surfside struggling?
No. Surfside condo sales rose 57% in Q1 2026, inventory fell 25%, and average prices climbed 23% to $6.1 million. Nearby projects like Surf Club Four Seasons and Arte Condominium are trading actively. The sales challenge appears specific to The Delmore site and pricing.
When will The Delmore relaunch sales?
DAMAC is planning a sales relaunch for the end of 2026. The developer is resubmitting its master building permit, finalizing insurance, and selecting a general contractor. Joint venture discussions are reportedly ongoing.
Local help for buyers and investors in South Florida
If you are buying, selling, or investing in Surfside, Miami Beach, or anywhere in South Florida, understanding how ultra-luxury pricing and market dynamics work matters. Reach out to The Mastropieri Group, Realtors®.
For practical, hands-on support across South Florida, call (561) 544-7000.
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