Zaha Hadid's $150M Penthouses on Tragedy Site

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Издатель Jun 3, 2026

In the May 27th episode of Discover South Florida, Larry Mastropieri and the crew tackled a wide range of South Florida real estate headlines, mixing market insight with their usual laid-back humor and blunt commentary.

The livestream opened with discussion surrounding the former Champlain Towers South site in Surfside, where DAMAC Properties is developing “The Delmore,” an ultra-luxury condo project. Larry pointed out that while the project is architecturally impressive — designed by the legendary Zaha Hadid Architects — the pricing may simply be too aggressive for today’s market. Units reportedly start around $15 million, with many ranging from $35-$40 million and penthouses potentially topping $150 million. The conversation focused less on the tragedy tied to the site and more on whether South Florida buyers are finally beginning to resist sky-high luxury pricing.

The hosts also discussed developers Related Group and BH Group scaling back a Plantation mixed-use project. Rather than increasing density, they’re actually reducing the size and height of the development — something Larry noted feels unusual in South Florida real estate. The consensus was that developers may finally be adjusting expectations based on changing demand and rising construction costs.

Another major topic was the Aston Martin Residences in Miami facing two separate lawsuits involving construction defects and allegations of fraud tied to missing promised amenities like a marina and helipad. Larry emphasized that construction defect claims are extremely common in luxury condo development, though the fraud allegations naturally raise more concern.

The show also shifted into broader economic trends, covering increases in bankruptcies and foreclosures across South Florida. Larry explained that while the numbers are climbing, he doesn’t see this as panic territory. Instead, he described it as a market correction where weaker businesses and unsustainable operations begin getting weeded out while luxury real estate still shows signs of strength.

One of the most memorable stories involved a massive HOA fraud case at The Hammocks community, where over $11 million was allegedly stolen over several years through shell companies, fake invoices, and ghost employees. The hosts mixed disbelief and humor while discussing how such a large-scale scheme went unnoticed for so long.

Finally, the livestream wrapped up with optimism surrounding new West Palm Beach and Delray Beach developments, including affordable luxury townhomes by PulteGroup and a mixed-use project replacing a surface parking lot on Atlantic Avenue. Larry strongly supported turning underutilized parking lots into walkable retail and restaurant spaces that improve the streetscape and long-term value of Delray Beach.
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