(Read more on the multifamily market.)
AVENTURA, FL-Developer Martin Z. Margulies is planning to begin construction within the coming months on Bellini. The 24-story, 70-unit condominium project will rise at 4100 Williams Island Blvd.
Bellini COO Shannon Selby tells GlobeSt.com that construction is expected to begin in the first quarter 2008 with the project expected to be completed in 2010. A project cost has not yet been determined.
The project will consist entirely of three-bedroom corner units ranging in size from more than 2,300 sf to nearly 2,700 sf. The building's elliptical shape and wraparound glass balconies will offer water views. Complex amenities will include hurricane-rated impact resistant glass and fitness center. Prices for the units in Bellini range from $1.25 million to $3.5 million; sales efforts for the project have started, with most prospective buyers coming from Europe.
The project is located next to the Williams Island Club & Spa, a 16-court tennis complex, and the Island Club restaurant and banquet hall. “Williams Island is a unique community,” Selby says. “It's a niche area, a green oasis, in the middle of Aventura.”
Other projects Margulies has completed include Grove Isle in Coconut Grove, Bellini Bal Harbor and Grand Bay Towers Key Biscayne.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
