Developer Ian Bruce Eichner would like to redevelop an aging waterfront elaborate in North Miami into a 267-unit luxurious condo undertaking.
Eichner, founder and CEO of Continuum Business, proposes a 20-story development on the Mariners Bay Condo internet site at 12000 North Bayshore Push, in accordance to an software submitted by an Eichner affiliate to Miami-Dade County in late October. Intended by Kobi Karp, the project would consist of 12 townhouses, 48 a single-bed room units, 135 two-bedroom units and 72 three-bed room units. Eichner also would renovate an existing 20-slip marina on the 4.3-acre web-site.
The proposal marks the hottest planned redevelopment of an aging condominium creating in South Florida. After the deadly Surfside collapse and stringent state mandates on structural servicing that ensued, builders have swooped in to purchase out expense-burdened apartment entrepreneurs who just can’t manage more assessments for repairs and upkeep.
Eichner has 45 units at the 46-unit Mariners Bay Condominium under agreement, he instructed the South Florida Organization Journal. The price was not disclosed. Mariners Bay, which was completed in 1981, is in have to have of highly-priced repairs for its 40-12 months recertification, prompting device owners to seek out to promote.
This summer season, Mariners Bay Rental submitted a certificate of termination of the condominium, saying 75 p.c of unit entrepreneurs signed off on the termination.
In other planned redevelopments of aging South Florida residential properties, Macklowe Homes and the Pérez family’s Associated Group have been closing on models at the waterfront Biscayne Sea Club co-op at 8000, 8010 and 8020 East Travel in North Bay Village. The developers strategy hundreds of luxurious units, probable condos. The total buyout price is envisioned to be $47.7 million.
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Eichner has homed in on South Florida’s condo market in the latest yrs. This month, he and Turkish conglomerate Aksoy Holding introduced gross sales of the 32-tale, 198-rental Continuum Club & Residences prepared for 1755 79th Avenue Causeway in North Bay Village. Selling prices begin at approximately $1 million.
Eichner completed his initially South Florida condominium job, the two-tower Continuum at 100 South Level Travel in Miami Beach’s South of Fifth neighborhood, in 2002 and 2008. A lot more just lately, he has been working on the La Baia condominium task in Bay Harbor Islands. It is made up of the 8-tale, 68-device La Baia South developing at 9201 East Bay Harbor Travel, and the eight-tale, 57-device La Baia North at 9481 East Bay Harbor Generate.
