Among the most active developers are Michael Dezer and his sonGil. Within the past three years, they have reportedly invested $80million to buy 10 old motels and obtain a two-year option-to-buy an11th, giving them nearly 30 acres of oceanfront land.
If they exercise their option to purchase the three-acre Suezproperty, they will have paid almost $7 million an acre for theirassemblage.
Dezer Properties' initial project is the two-tower Ocean Grandeat 18101 Collins Ave. The initial building is the 362-room SonestaOcean Grande Resort Hotel. Actually a condo hotel, it will allowbuyers to rent out their units when not being used by theowners.
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