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Developers Creating South Florida's Latest Condo Canyon

SUNNY ISLES BEACH, FL-Small, vintage motels on a sandy stretch here along the Atlantic Ocean between Aventura and Bal Harbour in northeast Miami-Dade are being replaced by one residential condominium or hotel/resort high-rise after another.

By Harold Kelman | Updated on October 03, 2000

SUNNY ISLES BEACH, FL-Incorporated as a city only three years ago, this 2.5-mile long strip that is never any wider than the three blocks separating the ocean from the Intracoastal Waterway, could well be the region’s next center of luxurious living and vacationing.

Among the most active developers are Michael Dezer and his son Gil. Within the past three years, they have reportedly invested $80 million to buy 10 old motels and obtain a two-year option-to-buy an 11th, giving them nearly 30 acres of oceanfront land.

If they exercise their option to purchase the three-acre Suez property, they will have paid almost $7 million an acre for their assemblage.

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