So you still think the building is not going condo'''
From:
flamingorenter
Date posted:
2/20/2006
Years at this apartment:
2004
-
2006
Not only is your grammar as bad or worse than the individual you are referring to as a "dillhole" (whatever that is); it seems that you are shortsighted as well.
Posted on Fri, Feb. 17, 2006
Condo conversion deal may be state's largestMCZ/Centrum will close on a more than $600 million deal with AIMCO to purchase the Flamingo South Beach apartment complex and turn the property into condos.
BY MATTHEW HAGGMAN mhaggman@MiamiHerald.com
The Flamingo South Beach, a massive apartment complex in Miami Beach, is set to be sold and turned into condominiums, in a deal that appears to be the biggest condo conversion ever in Florida -- and possibly the country.
MCZ/Centrum, a joint venture group based in Chicago, will pay more than $600 million for the 1,688-unit apartment complex that sits on 13 acres along Biscayne Bay. The property is being sold by AIMCO, a publicly-traded apartment company in Denver. The parties reached agreement Thursday and are expected to close today. The purchase suggests that the Chicago condo converters remain bullish on South Florida's condo market. But it also comes at time when prices appear to be leveling after hitting new highs last year.
Under the terms of the deal, the Bay Road property will be bought in phases, with the south tower converted to condominiums first, followed by the north and center towers. Miami-based Fortune International is slated to sell the units, which must be first offered to existing renters.
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