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Multifamily Conversions Gaining Ground

August 22, 2013

A rental project in Miami’s Mary Brickell Village is going condo, the second Miami conversion in as many weeks.

The $65 million project was originally slated to be called EnV and offer rentals, but now the site, at 999 Southwest 1st Ave., will be developed by Starwood Capital and Lynd into a 34-story condo tower called Nine at Mary Brickell Village.

The 390 units start at 744 square feet and $300,000, the project’s web site said. Behar Font & Associates is the architect, and Fortune International is handling sales.

Last week Gold Krown Financial revealed plans to convert a rental tower in Miami’s Midtown as standing condo inventory dries up and demand from buyers continues to surge.

Source: TheRealDeal

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