Icon Beach - Hollywood

Icon Beach Waterfront Residences is a 38-story, 350-residence luxury condominium under construction at 3724 South Ocean Drive in Hollywood, Florida, developed by Related Group and BH Group, with delivery anticipated in 2028. Residences run one to three bedrooms, 948 to 2,580 square feet, with published pricing from approximately $1,100,000. Architecture is by Cohen Freedman Encinosa & Associates, interiors by Meyer Davis, landscape by Witkin Hults + Partners. The tower rises on the Intracoastal side of South Ocean Drive with the Atlantic Ocean to the east and the Intracoastal Waterway to the west, and delivers roughly 40,000 square feet of indoor and outdoor amenity space anchored by a private 32-slip marina and a resident-exclusive full-service beach club.

The developers broke ground on June 18, 2026, following a $360 million construction loan from Tyko Capital that closed in April 2026.

Here is why I pay attention to it. The investment case rests on three verifiable facts: entry pricing sits now at an arithmetic ceiling of roughly $1,400 per square foot on a brand-new dual-water product, the marina is capped at 32 slips against 350 residences, and the site sits directly beside the 1,000-room Diplomat Beach Resort, which traded at $835 million in 2023.

Read that last line again. Someone paid $835 million for the hotel next door. That is not a lifestyle decision. That is institutional capital underwriting a block.

Fast facts

Thirty two slips against three hundred fifty residences

This is the detail most people skim past, and it is the one I would build an entire underwriting thesis around.

The marina is capped at 32 slips. The tower holds 350 residences. That is one slip for approximately every eleven homes, or roughly nine percent of the building.

Marina slips are not an amenity. They are a separately scarce asset attached to a residence. In South Florida, deepwater and Intracoastal dockage has been supply constrained for years, and it does not get built. Seawalls, permitting, environmental review, and simple geography mean the number of new slips created in southeast Florida each year is close to a rounding error.

When you buy into a building where nine percent of the residents can dock a vessel, you are buying into a permanent internal scarcity. That scarcity expresses itself two ways. It supports resale pricing on the residences that carry slip access, and it creates an internal rental market for the ones that do not.

I have watched slip access quietly become the deciding factor in more than one negotiation. Buyers who understood it early paid for it once. Buyers who understood it late paid for it forever.

The land basis tells you what the sponsor believes

The developers assembled nearly eight acres in 2023 for a combined $51.5 million.

Spread that across 350 residences and the land basis is approximately $147,000 per home.

Then look next door. The sellers of the development parcel were the ownership of the Diplomat Beach Resort, Trinity Investments and Credit Suisse, later acquired by UBS, who had purchased that 1,000 room oceanfront asset for $835 million in 2023. That is roughly $835,000 per key.

Hold those two numbers side by side. A sophisticated institutional owner paid $835,000 per hotel key on that beach, and then sold the adjacent parcel to a developer who put in $147,000 per residence of land basis before a single foundation was poured.

Then Tyko Capital wrote a $360 million construction loan against it in April 2026.

Institutional capital does not underwrite a location three separate ways by accident. That is a conviction stack, and it is public record.

The position: two coastlines, one building, zero commute to either

Icon Beach sits on the Intracoastal side of South Ocean Drive, which means the Atlantic is to the east and the Intracoastal Waterway is to the west. Panoramic exposure in both directions.

I want to be honest about what that actually means, because "waterfront" is the most abused word in this business.

Most oceanfront towers give you one view and one relationship to water. You look east. That is it. Icon Beach is positioned so that the residence you buy can see sunrise over the Atlantic and sunset over the Intracoastal, and your boat is downstairs while the sand is across the street.

Geographically, the building sits between Miami and Fort Lauderdale. Fort Lauderdale Hollywood International Airport is roughly ten to fifteen minutes north. Aventura Mall, Bal Harbour Shops, Gulfstream Park, and the Seminole Hard Rock are all inside a short drive. The Hollywood Beach Boardwalk, two and a half miles of oceanfront promenade, is a walk.

For my international clients, and I say this to my Italian and Latin American families constantly, the airport proximity is not a convenience. It is the entire viability of a second home. A residence you can reach from the terminal in twelve minutes gets used. A residence that requires an hour of Miami traffic after a nine hour flight gets sold in four years.

What is actually inside

Approximately 40,000 square feet of indoor and outdoor amenity space, which for a 350 unit building is generous rather than theoretical.

The waterfront pool deck carries private cabanas. There is a full service beach club reserved for residents, a spa and wellness center, a health club, indoor and outdoor lounges, an outdoor cinema, summer kitchens, and a reservable waterfront event space overlooking the Intracoastal. Landscape design by Witkin Hults + Partners threads tropical planting and shaded pathways through the property.

Then there is the piece that is quietly the most Related Group thing about it. The amenity program incorporates curated works from the Jorge M. Pérez Contemporary Art Collection. Pérez has been placing museum quality art into residential buildings for four decades, and it is not decoration. It is a signal about how the sponsor thinks about the asset's identity over a thirty year hold.

Inside the residences: open concept layouts, floor to ceiling glass, sliding glass doors, private balconies oriented to water. Primary suites carry walk in closets and bathrooms with soaking tubs and fixtures by Kohler and Hansgrohe. Meyer Davis on interiors matters here. This is the firm that has built a reputation on restraint, on rooms that photograph well and live better, and restraint ages far more gracefully than statement design.

Who this is right for

I do not believe in selling a building to everyone. I believe in matching a building to a thesis. Here are the four profiles where Icon Beach makes real sense.

The capital preservation buyer entering at the low end of a rising market. You want new construction, structural warranties, modern building code, funded reserves from day one, and no exposure to the milestone inspection and reserve funding reckoning currently repricing older South Florida condominium stock.

The boat owner. If you have a vessel, or you intend to have one, the slip math above is the entire conversation. Everything else in this analysis is secondary to you.

The investor building a South Florida ladder. This is not your only position. It is the yield and appreciation leg that sits underneath a Brickell or Miami Beach trophy asset, and it diversifies you across county lines into a submarket with different supply dynamics.

If none of those describe you, tell me. I will tell you honestly if this is not your building, and I will show you the one that is. I would rather be right than be transacting.

What I would verify before you sign anything

This is where I differ from most of what you will read about this project online, and I am comfortable with that.

The rental policy. Leasing policy permitting two rentals per year with a minimum six-month term. That single clause determines whether your underwriting model works or does not. I will not let a client sign a contract on a summary of a rental policy. I read the recorded condominium documents and the developer's current declaration, and I show you the actual language before you commit capital.

The current deposit schedule. Pre construction deposit structures are staged through construction, and they are revised. The schedule circulating on marketing sites may not be the schedule in the contract you are handed. I confirm it directly with the developer for every client, every time.

Line selection and exposure. In a dual water building, two residences on the same floor at the same price can perform completely differently at resale depending on which water they face, how deep the terrace runs, and what gets built in the view corridor over the next decade. This is where I earn my keep. Line selection is not a preference. It is the decision.

The assignment and resale provisions. If your exit thesis involves assigning before closing, the contract language governing that is the most important paragraph in the document, and it is rarely the one buyers read.

Insurance and assessment modeling on a 2028 delivery. I model carrying cost forward, not backward. What a comparable building charges today is not what yours will charge in 2029.

I do not do this to slow a transaction down. I do it because I have spent eighteen years in this market and the money is made or lost in the paragraphs nobody reads.

Frequently asked questions

What is Icon Beach Hollywood? Icon Beach Waterfront Residences is a 38-story, 350-residence luxury condominium under construction at 3724 South Ocean Drive in Hollywood, Florida, developed by Related Group and BH Group, with completion anticipated in 2028.

How much do residences at Icon Beach cost? Published pricing starts at approximately $1,100,000. Residences range from 948 to 2,580 square feet across one, two, and three-bedroom layouts. Current availability and pricing move, and I confirm live inventory directly with the developer before quoting any client a number.

When will Icon Beach be completed? Delivery is anticipated in 2028. The project broke ground on June 18, 2026, following the April 2026 closing of a $360 million construction loan from Tyko Capital.

Does Icon Beach have a marina? Yes. The project includes a private 32-slip marina, alongside a resident-exclusive full-service beach club.

Who designed Icon Beach? Architecture by Cohen Freedman Encinosa & Associates, interiors by Meyer Davis, landscape architecture by Witkin Hults + Partners.

Is Icon Beach on the ocean or the Intracoastal? Both, functionally. The tower sits on the Intracoastal side of South Ocean Drive with the Atlantic Ocean to the east and the Intracoastal Waterway to the west, delivering dual water exposure. The beach is directly across the street.

Is Icon Beach a good investment? That depends entirely on your holding period, your financing, your tax position, and your exit thesis, and any advisor who answers that question without asking you those four things is selling, not advising. What I can tell you is what the numbers show: A marina capped at nine percent of the building, land basis of roughly $147,000 per residence, and $360 million of institutional construction debt behind it. Those are the facts. The thesis is the conversation we have together.

Can I use Katerina as my broker at Icon Beach? Yes. I co-broker Icon Beach Hollywood, and I represent buyers there directly. Buyer representation costs you nothing at the developer level, and it changes everything about what you know before you sign.