Condo Project Gets $19.6M Construction Loan

MIAMI-The financing for Ocean Blue, under construction in Miami Beach, was from Bank of America and arranged by locally based HR Mortgage & Realty Co. The 110-unit project is set to be completed by the end of the year.

By Melissa Bogdany | May 01, 2003 at 01:01 AM

The sellout value of Ocean Blue, located on the 7500 block of Collins Avenue, is in the low $30 million range. Units range from 1,000 sf to 1,600 sf. Prices range from the $200,000s to $500,000.

Ocean Blue has a projected completion date of the end of this year. The project's developer is Seaside Ocean Blue LLC. Lauris Boulanger is the project's general contractor, Kobi Karp AIA is its architect, and Fortune International is in charge of sales and marketing.

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