Laserfiche WebLink
Prgperty Type: <br />Report Type: <br />Intended Use: <br />IIntended User: <br />11 <br />Location: <br />Site Description: <br />Highest & Best Use: <br />Date of Value: <br />Date of Report: <br />EXHIBIT "A" <br />EXECUTIVE SUMMARY <br />A multi - family zoned parcel of land <br />Summary <br />The intended use of this appraisal is to help negotiate the purchase <br />price of Transfer Development Rights (TDR's). <br />GILCO Realty LC, its general council and /or assigns. <br />18555 Collins Avenue, <br />Sunny Isles Beach, Florida 33160 <br />Site Size: <br />96,162 square feet or 2.208 acres <br />Zoning: <br />MU -R, a mixed use resort district by the City of <br />Sunny Isles Beach, Florida. <br />Flood Zone: <br />X, AE, VE (See Addenda) <br />Census Tract: <br />1.15 <br />Current Use: <br />The Golden Nugget Hotel, a 120 unit <br />condominium -hotel completed in 1956. <br />Proposed Use: <br />58 -story condominium tower with 132 <br />residential units. The proposed project, to be <br />known as Porsche, is anticipated to have an <br />FAR of 5.19. <br />Future multi - family development in accordance with the current <br />zoning code and LDR of Sunny Isles Beach, Florida. <br />September 9, 2011 <br />September 20, 2011 <br />Marketing /Exposure Time: Within 12 months. <br />Property Rights Appraised: Fee Simple Estate <br />VALUE INDICATIONS: <br />Sales Comparison Approach: $23,750,000 <br />Final Per SF of Allowable FAR $65.00 <br />