The property, completed in 1969, originally consisted of a 14-story building with 249 apartments on 1.75 acres of land with 225 ft of Atlantic Ocean frontage. In the early '80s, however, Posner, who passed away about a year ago, converted the building to office space for his many companies.
The property, at 6917 Collins Ave., has been vacant for approximately a year.
Now the buyer plans to convert the building to about 250 condominiums that will sell in the $200,000 to $250,000 range, Daniel Rotenberg, a partner in Karlton Properties, tells GlobeSt.com. The other partners in the firm are Gavriel Naim and Fredric Karlton.
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