The Real Deal Miami

South Florida real estate in brief

March 10, 2009 01:29PM

Luxury home sees major price cut
A house at 1880 S. Ocean Boulevard in Manalapan is now on the market
for $9.995 million, down from its original listing price of $13.5
million. The seller is “still motivated” to sell, said broker Nicholas
Malinosky. “Value is the only motivation [for buyers] and the only way
to show value is price,” Malinosky said. Randy Ely and Malinosky, both of
the Corcoran Group, are the brokers on the listing.

Construction begins on Miami medical center

Moss & Associates, a construction services company, has begun
construction on Leon Medical Centers-Flagler, an 84,670-square-foot
space at 150 NW 79th Avenue in Miami, the company announced yesterday.
The building is slated for completion this November.

Hollywood apartment building sells for $4.27 million

A 72-unit apartment building in Hollywood has sold for $4.27 million,
Marcus & Millichap Real Estate Investment Services announced last
week. Washington Park Apartments, at 6111 Washington Street, contains
71 one-bedroom, one-bathroom units and one two-bedroom,
two-and-a-half-bathroom unit. Elliot Shainberg of Marcus & Millichap’s
Miami office represented the seller, a private investor from Miami
Beach. Andrew Jordan and Paul Nudelman, also of Marcus & Millichap,
represented the buyer, a Miami-based company. TRD