The Real Deal Miami

Hollo flips Delray property

November 17, 2011 11:25AM

Veteran developer Tibor Hollo has flipped the Delray Beach project he acquired
last week
for a slight profit, claiming he “made a mistake.” “I
liked the property and I was going to do it, but the people in my office
pooh-poohed it,” he said. He purchased the stalled Mizner Grand
Estates residential community for $2 million last week, buying the site
through a company called 1814 Brickell. The next day, according to the
South Florida Business Journal, he sold the site for $2.05 million. [SFBJ]