Five Park tops off construction, becomes the tallest building on South Beach, announce 2024 move-ins

Terra and GFO Investments, under the leadership of David Martin and Russell Galbut respectively, have completed the construction of Five Park Miami Beach, the only high-rise residential condominium to debut in South Beach this year. This development serves as a prominent visual marker at the entrance to Miami Beach, coupling a significant residential tower with the neighboring three-acre Canopy Park and the artistically designed Canopy Bridge.

David Martin, CEO of Terra, views Five Park as a transformative development for South Beach, symbolizing the area’s evolution into a hub for culture, design, and resilience. Jay Phillip Parker, President of Douglas Elliman Development Marketing, Florida, echoes this sentiment, highlighting Five Park’s unique location connecting the South of Fifth neighborhood with the West Avenue district and its exceptional quality that sets it apart from other developments in recent years.

Five Park, rising 48 stories at the edge of Miami Beach, offers 50,000 square feet of diverse amenity spaces, including The Park Club on the 6th floor. This club features a spacious pool, café terrace, wellness and work areas, and entertainment spaces. The ground-level Canopy Park provides a natural escape with a botanic garden, playground, dog park, and event lawn.

Russell Galbut emphasizes the project’s role in redefining residential living in South Beach, crediting its timely market entry to the team's confidence in the neighborhood’s direction and the overall resilience of the Miami market.

The design and architecture of Five Park are the result of collaborations with notable industry figures such as Gabellini Shepard for interior design, Arquitectonica for architectural planning, Anda Andrei for design oversight, Daniel Buren for conceptual art, and Sarah Harrelson of Cultured Magazine for interior art curation.

The upcoming Canopy Bridge, set for groundbreaking in early 2024 and designed by Daniel Buren, will be a 158-foot-long enclosed pedestrian bridge connecting Five Park to the South of Fifth neighborhood, adding a unique structural and artistic element to the development.

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