WGM: David Martin Buys the Seaquarium & Sternlicht Hits Pause on Standard

2 New Mega Parks, Real Estate Mega Deals, and Finally Neighborhood

On My Mind: The Season is Percolating

The season is percolating. Miami is back in motion—deals are flowing, new spaces are opening, and we’re starting to see good weather poke through the tropical clouds, a sign of what’s to come. With Yom Kippur this week, I want to wish an easy fast to those observing. It’s a reminder that even in a city obsessed with momentum, taking a pause to reflect is just as important as pushing forward.

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Beach Business

• Where’s David Martin this week? Buying the Miami Seaquarium.

  Terra to acquire the 38-acre property out of bankruptcy court for $22.5 million

• Sternlicht’s Standard Hotel: Big Plans, Bigger Pushback

  Why the retreat? Local heat. A $1.2 million payment sparked in uproar.

• Beaches Shut Down: Skip the South Pointe Park Waves, For Now

  Water quality health advisory for Crandon Park and South Point Drive Beach.

• Miami Beach Parks Double Debut: Bayshore & Ocean Terrace

  2 Parks, 1 Week. Miami Beach just got a serious upgrade in green space.

Hospitality: Local Insider

• Dining Notes: Kuromon Sushi

  A chef-entrepreneur hustling, building something with his own hands

Real Estate: Luxe Listings We Love

• The Ultimate South Beach Starter Home

  Bayshore daydream pairs mid-century modern simplicity with sea-spray hues.

BEACH BUSINESS

Where’s David Martin this week? Buying the Miami Seaquarium.

In the latest episode of Where’s David Martin, Miami’s busiest developer has popped up at the Miami Seaquarium. Terra is set to acquire the 38-acre Virginia Key property out of bankruptcy court for $22.5 million, with plans to shutter the aging attraction in late 2025 and transition the animals to new homes. In place of dolphins and decades of controversy, Martin envisions an aquarium without marine mammals, a conservation and research center, marinas, wellness spaces, a fisherman’s village with restaurants and retail, and the iconic dome preserved as an event venue. It’s an ambitious reset for a property that hasn’t seen a meaningful update since the 1950s and has been mired in lawsuits, protests, and mounting losses. Of course, all of this still needs Miami-Dade’s blessing—the lease has less than 20 years left, and redevelopment on public park land could trigger a countywide referendum—but if anyone can navigate the politics and the paperwork, it’s Martin.

At this point, spotting him is less like Where’s Waldo and more like watching Miami’s Monopoly board come to life: Coconut Grove, Jungle Island, South Beach towers, and now, the Seaquarium, everywhere you look, David Martin’s already there, sketching Miami’s next chapter.

Sternlicht’s Standard: Big Plans, Bigger Pushback