A disciplined Faena House purchase includes reviewing the current management agreement, service obligations, applicable ownership disclosures and litigation status. Related-party review is preventive due diligence, not an allegation of a conflict or improper charges.
At Faena House Miami Beach, the purchase decision extends beyond the residence itself. The oceanfront condominium at 3315 Collins Avenue sits within the Faena District’s Mid-Beach setting. Completed in 2015 by Access Industries and Alan Faena, it is a reminder that the documents behind a luxury address deserve as much attention as its surroundings.
For a buyer, the management agreement is a practical starting point. It should specify which services the association purchases, which expenses may be reimbursed and how responsibilities are assigned. Those details distinguish the experience being marketed from the obligations being contracted.
Related-party review belongs in that examination as preventive due diligence. Whether Faena House currently has such an agreement requires verification. Its management history does not establish a developer affiliation, a conflict or overcharging. The objective is clarity before closing, not suspicion by association.
Marquis Association Management’s historical relationship with Faena House dates to at least April 2017 and is also documented in June 2024. Neither date confirms the current manager, the contracting entity or the terms now in force. Request the executed association management agreement, all amendments and any renewal documentation.
Keep association management separate from services purchased for an individual residence. Services have been advertised for individually owned Faena House units, but that does not establish who manages the condominium association. Identify which entity serves the building and which, if any, would be retained privately.
Developer control reportedly transferred to owners in September 2016. Verify current governance through association records; that historical milestone is not a complete answer. Counsel should establish who approved the operative agreement, when it took effect and which entity is responsible for performance.
Florida Statute 718.3025 establishes requirements for written contracts covering condominium association maintenance or management services. For covered agreements, the statute addresses the provider’s services, obligations and responsibilities, as well as reimbursable costs, service frequency and minimum staffing requirements.
These are concrete review points. Ask counsel to examine the agreement while your financial adviser or another appropriate professional compares its obligations with the operating budget. Focus on specific questions:
Which services fall within the contracted scope, and which require separate payment?
What costs are reimbursable, and how are those charges documented?
What service frequencies and minimum staffing levels are specified?
Do the budget and supporting financial records reflect those obligations?
A broad reference to luxury service is no substitute for precise answers. Equally, a substantial expense is not, by itself, evidence of an improper arrangement. Evaluate what the association receives, how charges are authorized and whether the documents clearly define those obligations.
Section 718.3025 requires disclosure of a developer’s financial or ownership interest in the contracting provider when the developer controls the association. That condition matters. It should not be casually extended to every affiliate relationship, every board-member connection or every agreement entered after turnover.
Have Florida condominium counsel confirm the provision’s scope and applicability to the relevant agreement and period of control. As part of due diligence, request applicable ownership-interest disclosures and available records identifying the contracting provider. If a relationship is disclosed, counsel can assess its significance in context. The relationship alone is not proof of wrongdoing.
Apply the same discipline to contract flexibility. Ask counsel to examine duration, renewal procedures, notice requirements, termination rights and any associated charges. These are questions for the actual agreement, not assumptions about Faena House’s terms. Buyers should understand both the service commitment and the association’s contractual options if its needs change.
Faena House was originally marketed with 24-hour doorman, valet, concierge and security surveillance services, along with preferred status and access to Faena Hotel services and district cultural offerings. Those historical representations do not verify current staffing, enforceable access rights or today’s costs.
Translate each service that matters to your purchase into a document request. Ask which agreement governs it, whether it is included in association charges, whether separate fees apply and whether access is subject to conditions. Distinguish a commitment owed to the association from a service an owner must arrange independently.
If Setai Residences Miami Beach is also on your shortlist, ask the same questions there. Compare documented obligations, not presumed similarities between names. An attractive service offering is more useful to a buyer when its scope, payer and governing terms are clear.
Management-contract review should remain separate from construction history. In September 2020, 3315 Tower Condominium Association sued developer entity Tower 3315, managed by Access Industries and Faena Group, along with Coastal Construction and other companies, including Foster + Partners, over alleged construction defects. Allegations included stucco cracking and slow drainage. They should not be treated as adjudicated findings.
That history does not establish management-contract misconduct. Nor does it answer the questions that matter at a present-day closing: the case’s current status, remaining repair obligations, funding arrangements or potential assessment exposure.
Request a current written litigation update and remediation summary for counsel’s review. Ask for relevant association records addressing repairs, funding and any adopted or proposed assessments. The purpose is to understand the obligations and exposure attached to the residence you are buying, rather than draw conclusions from a filing made years earlier. Keep legal status, physical work and financial responsibility distinct throughout the review.
For a buyer who expects to be away frequently, responsibility matters as much as availability. Clarify whether a requested service falls to association management, a hotel arrangement or a privately retained unit manager. Ask where responsibility begins and ends, and obtain the relevant terms before relying on a verbal description.
When considering 57 Ocean Miami Beach alongside Faena House, use the same document checklist for both evaluations. This is a consistent buying discipline, not a claim that the buildings share management structures, service packages or contractual risks.
Before closing, aim to resolve four essentials: the current agreement and amendments, the relationship between charges and services, applicable disclosures, and current litigation and remediation information. Ask counsel to identify unresolved issues while there is still time to address them within the transaction. A well-informed purchase preserves the appeal of the address while making its operating commitments clear.
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Begin a quiet conversationFaena House is an oceanfront condominium at 3315 Collins Avenue in Miami Beach, within the Faena District’s Mid-Beach setting.
Access Industries and Alan Faena completed Faena House in 2015.
A current related-party management contract is not established. Buyers should verify the executed agreement and applicable ownership disclosures rather than infer a relationship from the building’s name or management history.
Historical references establish a relationship in April 2017 and June 2024, not confirmation of today’s manager or contract. Obtain the current executed association management agreement.
No. Services advertised for individually owned Faena House units should not be confused with management of the condominium association.
Covered contracts must specify services, obligations and responsibilities, as well as reimbursable costs, service frequency and minimum staffing requirements. Counsel should confirm applicability to the agreement under review.
Section 718.3025 requires disclosure of a developer’s financial or ownership interest in the contracting provider when the developer controls the association. Florida condominium counsel should assess its application to the relevant agreement.
Historical brochure language does not establish current contractual entitlements or costs. Buyers should verify the governing agreements, conditions and any separate fees.
The association sued over alleged construction defects, including stucco cracking and slow drainage. Those allegations are not adjudicated findings, and buyers should obtain a current litigation and remediation update.
Prioritize the executed management agreement and amendments, operating budget, applicable ownership disclosures and current governance records. Also request current service terms and litigation, remediation and assessment information.
