The Delmore in Surfside: Sales Reset, Permit Pending, 2029 Target

As of October 2026, The Delmore, DAMAC's planned 12-story, 37-residence condominium at 8777 Collins Avenue in Surfside, has finished its ground improvement work but has not started rising, and as of the latest reporting it had not signed a single sales contract. The developer said in April that it was resubmitting the master building permit, still lining up insurance and a general contractor, talking to possible joint-venture partners, and planning to relaunch sales toward the end of 2026.

What has been built so far

The site work is real. Keller North America spent about 10 months on deep and trench soil mixing, which strengthens the sandy coastal soil and forms a watertight perimeter for an unusually deep basement. That phase was completed in November 2025, when the developer said it had invested more than $25 million in on-site construction. Piling and basement excavation were to follow once a general contractor was appointed and insurance finalized.

The schedule has not moved on paper. In February 2026 the project still expected to rise above grade in the fourth quarter of 2026 and to finish in 2029. No report since then confirms a contractor, insurance, a reissued master permit or piling under way, so the above-grade target is now only weeks away with none of its prerequisites publicly in place.

The sales problem

The Real Deal reported in April 2026 that none of the 37 units had gone to contract, more than a year after a soft launch in January 2025. Jeffrey Rossely, DAMAC's senior vice president of development, called that launch premature and said DAMAC walked away from a deal for more than $200 million of units because of "question marks over the source of the funding." The Cooperator, a condo trade publication, separately reported the zero-contract count, the lost $200 million deal and DAMAC's search for a joint-venture partner.

Context matters here. DAMAC paid $120 million in 2022 for the 1.8-acre site of Champlain Towers South, whose 2021 collapse killed 98 people, and many people wanted the land kept as a memorial. Rossely also acknowledged the company has no track record of ultra-luxury condos in the U.S.

Pricing against the building next door

Own.Miami's records show four Delmore residences on the MLS as of October 13, 2026: from $15,000,000 for 5,088 square feet to $40,150,000 for 8,724 square feet, a median ask of $3,963 per square foot.

The nearest finished comparable is The Surf Club, the Four Seasons-branded condominium a few blocks north at 9001 Collins Avenue. It closed 11 MLS sales in the last 12 months at a median $17,000,000, or $4,420 per square foot, and county deeds record 14 sales from October 2025 through September 2026. In other words, the delivered, branded building a few blocks north is closing above the per-foot price an unbuilt tower is asking.

Across Bal Harbour & Surfside, Own.Miami's market report counts 281 condo closings in the last 12 months at a median $1,030,000 ($732 per square foot), with 327 units for sale and 14.0 months of supply, a buyer's market.

Why it matters for buyers and owners

For a pre-construction buyer, the order of events is the risk: a deposit placed before a general contractor, insurance and a building permit are in place is a bet on a schedule that has no public footing yet. Watch for three specific signals before treating 2029 as real: a named general contractor, a joint-venture partner or construction loan, and the master building permit. For owners in finished oceanfront buildings near The Delmore, a stalled 37-unit tower adds little near-term competing supply, while Surf Club's closings show where the top of this market is actually trading.