Weiss Serota Arranges $55M Surfside Condo Buyout
When a developer sought to buy units at the Surf House condominium in Surfside, the attorneys with Weiss Serota Helfman Cole & Bierman advised the condominium association and its board on how to attract better offers and the best way to structure unit sales.
November 17, 2015 at 06:00 AM
5 minute read
Dealmakers: Joseph Hernandez and Joshua Krut
The Deal: When a developer sought to buy units at the Surf House condominium in Surfside, the attorneys with Weiss Serota Helfman Cole & Bierman advised the condominium association and its board on how to attract better offers and the best way to structure unit sales.
JMH Development emerged with the best offer of $55 million for the building, and the sales of 31 units closed on Oct. 30. Sales of the final five units are under negotiation. The average sales price is just over $1.5 million per unit — about four times their average market value.
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