(To read more on the multifamily market, click here.)
LANTANA, FL-South Miami-based Lehman Development Group Inc.expects to begin work in early 2007 on the 15-unit St. John'sVillas project at 106 Northlake Dr. The project has an estimatedsell-out of $25 million, Lehman partner Steven Scheinberg tellsGlobeSt.com.
Located on the Intracoastal Waterway facing the Ritz CarltonBeach Resort, the project will feature a four-story building withfour units on the first three floors, two penthouse units and acourthouse unit. The units will range in size from 2,736 sf to3,912 sf. The two penthouse units will include a boat slip. Theproject will also include 150 ft. of private beach, a 140-ft. dockwith slips that can accommodate boats up to 35 ft., swimming pooland spa. The project is expected to be completed in first quarter2008, Scheinberg says.
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