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WCI First-Day Closing Nets $110 Mil

BONITA SPRINGS, FL-The developer of luxury single-family and multifamily communities closes on the sale of 116 units in the Montenero condominium tower in the Southwest Florida community of Naples, FL. Bonita Springs is 105 miles west of Miami.

By David R. Corder | Updated on August 22, 2001

BONITA SPRINGS, FL-WCI Communities Inc. recently completed what it reports as the largest single day of closings and revenue generation in the company’s history.

The Bonita Springs-based developer of luxury single-family and multifamily communities closed on 116 sales during first-day delivery of units in the 133-unit, 20-story Montenero condominium tower in nearby Naples–a total value of about $110.3 million. Another 14 sales are expected to close within a week.

Only two of the 11 penthouse units in the building remain up for sale, each containing from 5,865 to 5,930 sf. “The 130 units the company has sold carry an average sales price of more than $1 million,” George Page, WCI Communities senior vice president, says in a prepared statement.

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