Multiplan Real Estate Asset Management, led by Brazilian billionaire José Isaac Peres, is seeking approval to construct a new oceanfront condo building called "93 Ocean" in Surfside, Florida. This project will replace older buildings at the site that are reportedly in "dire" condition. Here are some key details from the provided information:
- Project Details: Multiplan intends to build a 12-story condominium building with 27 units at the address 9309 and 9317 Collins Avenue in Surfside.
- Approval Process: The project's approval process involves the town's planning and zoning board, which will vote on the site plan approval at an upcoming meeting.
- Property Acquisition: R Palace Surfside LLC has purchased all the units at the development site, which previously housed the Regent Palace condominium complex consisting of 34 units built in 1951. The acquisition of both the units and the land underneath the buildings reportedly cost around $36 million. This suggests that Multiplan acquired the property from R Palace Surfside LLC or has a significant interest in it.
- Traffic Study: Multiplan commissioned a traffic study for the site, indicating that they are taking into consideration the impact of their development on local traffic.
- Purchase Money Mortgage: In late July, Multiplan provided R Palace Surfside with a $25 million purchase money mortgage. This financial transaction likely pertains to the property acquisition or the development project.
An overview of Multiplan Real Estate Asset Management's plans to develop a new oceanfront condo building in Surfside, which involves property acquisition, approval processes, and financial transactions. It's worth noting that real estate development projects often undergo various regulatory and public approval steps before construction can begin.
For those interested in learning more or making inquiries about The 9300 Ocean, they can reach out to the provided contact number: 305-778-6933.