NORTH MIAMI, FL.-Locally-based 5th Avenue Channel Corp. is selling three million shares of its Nasdaq-traded stock to Brezenet Inc., its licensee in Italy, in exchange for $3 million worth of foreign commercial real estate assets. The deal is expected to close by year end.

FT. LAUDERDALE-LeClub International principals George Green and Daniel J. Martincak are building a 66-unit tower at 2900 NE Ninth St. on a three-quarters acre site that will offer residences at $600,000 to $1.1 million.

MIAMI BEACH-Ron Molko and Gene Grabarnick, principals in South Beach Resort Development, paid Whitehouse Properties $6.5 million or $196.97 per sf for a three-quarters-acre oceanfront lot (33,000 sf) between 14th and 15th Streets.

BOCA RATON, FL-Devco Holdings is developing the 66,000-sf midrise and a 70-car parking garage at the northwest corner of US 1 and Palmetto Park Road. Bank United is providing $9.25 million in construction and land acquisition loans.

DELRAY BEACH, FL-The Community Redevelopment Agency paid owner John Yurt $580,000, or $20,000 less than the asking price for the property at 909 W. Atlantic Ave., near the western edge of the agency's award-winning projects.

MIAMI-About 17.5 million sf is expected to sell this year, down from the five-year annual average of 20.7 million sf, but still considered a healthy volume, according to a new report.

WEST PALM BEACH, FL-The real estate director for the Atlanta-based restaurant company helped develop CoreNet Global, a new brand name for the international association based here, 90 miles north of Downtown Miami.

BOCA RATON, FL-The City Council is studying several proposals that would change the way proposed ventures are approved. The city is fearful that the rate of growth may endanger Downtown's character.