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November 4, 2015 / Johanna Bassols / 0 Comments / Investing in Luxury Homes

Château Group Secures Entire Surfside Block

The Château Group recently purchased a two-story apartment complex in Surfside, according to an article from The Real Deal, adding to their portfolio in the seaside community just north of Miami Beach. With the purchase of the 0.36-acre lot, which is currently home to 24 apartments, the group now owns the entire eastern section of Collins Avenue’s 9300 block. According to public records, The Château Group bought the building for $6.2 million from 9300 Surf Block LLC, controlled by Yoav Merry and David Gross of Hollywood. The pair purchased the property last October for $4.08 million, holding onto it for just over a year.
Château is currently working on the Fendi Château Residences at 9365 Collins Avenue, just across the street from their latest purchase. The 2.2 acres owned on the opposite side of the Fendi site is actually made up entirely of mid-century, low-rise apartment buildings. The half of the block that fronts Harding Avenue is a combination of single-family homes and surface parking lots. Fendi Château Residences, which topped off in August, will include 58 units ranging in size from 3,300 square feet to over 8,000 square feet. Residents will enjoy luxury amenities, such as multiple beachfront pools with lavishly landscaped decks, private cabanas with pool service, exclusive poolside bar and restaurant, 24-hour valet parking, and much, much more. The building is expected to open in June 2016. We’ll just have to wait and see what the developers are planning for the area across the street.

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