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The Floridian Condo Conversion Project Sees Quick Sales

MIAMI-The 33-story, 334-unit, waterfront residential project, recently sold to DK/Equity of Florida LLC for $97.8 million and currently being converted to condos, has sold more than 100 units and has 60 more reservations being processed. Prices range from the $200,000s to $1 million.

By Melissa Bogdany | Updated on April 16, 2004

MIAMI-Although the project was just recently sold and is in the midst of a conversion to condominiums, the Floridian in South Beach has sold more than 100 units, nearly one-third of the project. Another 60 reservations currently are being processed, according to a spokesperson for the project.DK/Equity of Florida LLC recently acquired the 33-story, 334-unit, waterfront residential property, located at 650 West Ave., from Gumenick Properties recently for $97.8 million.An official sales center has not yet opened but an official grand opening is planned for late this month, when model units will be ready to be previewed. Select units are planned to be available for immediate occupancy.The project offers one-, two- and three-bedroom condominiums ranging in size from 640 sf to 2,320 sf. Prices for the one-bedroom units will start in the $200,000s; two-bedroom units will begin in the low $300,000s; and three-bedroom units are priced from the low $400,000s. In addition, select penthouses are for sale from the high $600,000s to $1 million.DK/Equity of Florida LLC is a joint venture between Chicago-based Draper and Kramer Inc. and Equity Marketing Services Inc. of Chicago. Equity Marketing Services is the exclusive listing brokerage.

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