MIAMI—Iris on the Bay is playing the value card as it seeks tofill 43 four-story townhomes under construction in Normandy Shores,FL. Prices on the bayfront residents start at $350 per square foot.That translates to $824,000 for the lowest-priced unit.
David and Jeff Spear ofSpear Group, together with BraddockFinancial, acquired the two-acre site in 2012. Thedevelopers are passing along the value to their buyers.
“In this cluttered and largely inflated market, we're proud tobring a new product offering that answers the needs of the buyerand presents a tremendous value,” says Jeff Spear. The townhomescome fully-furnished with private elevators, balconies, rooftopterraces and two-car garages.
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