MIAMI-The new owners of the Waverly apartment tower at 1330 West Ave., south Miami Beach, are converting the 35-story, 399-unit property to condominium ownership in September at starting unit prices of $250,000.

That is about what Karlton Properties of Miami and New York-based Athena Group paid Orlando-based Zom Inc. June 28 in the $97.25 million acquisition at $243,734 per unit.

The 300 tenants who occupy 75% of the towers will be given 45 days to purchase their apartment before sales are opened to the public. Tenants are being offered in-house financing and with a 10% down payment.

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