The Real Deal Miami

Last developer units sell in Hollywood

November 23, 2010 10:24AM

The remaining unsold developer units in the Hollywood/Hallandale Beach
market have been sold to a private equity group for more than $300 per
square foot, according to a report from Condo Vultures. The buyer of the
note on the units, BH III, with members Gregory Freedman, Daniel
Lebensohn and Charles Phelan, paid $160 million for the balance of a
$226.6 construction loan on the last units in the 200-unit Trump
Hollywood tower. Now, nearly all of the 228 available developer units in
the market at the end of the third quarter are sold. TRD