MIAMI, FL--The Related Group, South Florida's largest condominium developer, has unloaded a Downtown Miami development site for a proposed high-rise condominium tower at a discount of at least 33 percent below the original purchase price, according to a new report from CondoVultures.com.
The Related Group's TRG - Downtown Loft III Ltd. with five principals including Jorge Perez, (top right photo) sold three lots with a combined 28,500 square feet of developable land for $4.3 million, or $151 per square foot, in a deal recorded Dec. 30, 2009. Matthew J. Allen, the Related Group's executive vice president and chief operating officer, signed the deed, according to Miami-Dade County records.
Contact: Peter Zalewski of Condo Vultures®, 800-750-0517 or by email at peter@condovultures.com
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