The Real Deal Miami

Terra Beachside Villas sees turnaround

September 03, 2010 10:30AM

Terra Beachside Villas in Miami Beach

Terra Beachside Villas in Miami Beach, the once-distressed condo complex
that has been empty for two years, is looking for new life as its
owners look to complete a rapid turnaround. Construction has restarted
and buyers have been secured for more than half of the units, according
to Gregory Freedman, a principal at BH III. The developers received
their Temporary Certificate of Occupancy this week, opening the door for
finalized contracts and new owners at the building, which is located at
6000 Collins Avenue. Buyers have been found for around 65 percent of
the 117 units, which are priced between $250,000 and $685,000. [Miami