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Sales Comparison Approach: 557,000,000 - TDR Cost Basis <br />Final Per SF of Allowable FAR $125.00 <br />EXECUTIVE SUMMARY <br />Property Type: <br />A multi- family zoned ocean front parcel of land. <br />Intended Use: <br />The intended use of the appraisal report will be to assist the client in <br />establishing the cost of Transfer Development Rights (TDR's) as it <br />pertains to the subject property. <br />Intended User: <br />Beach Club Acquisition, LLC and/or assigns. <br />Property Description: <br />Location 18501 Collins Avenue, <br />Sunny Isles Beach, Florida 33160 <br />Folio Number 31 -2202- 003 -0190 <br />Zoning: MU -R, a mixed use resort district by the City of <br />Sunny Isles Beach, Florida. <br />Site Size: 2.293 acres or 99,879 square feet (Survey& Public <br />Records) <br />Census Tract: 1.23 <br />Flood Zone: X, AE and VE (See Addenda) <br />Date of Value: <br />May 22, 2014 <br />Date of Report: <br />June 2?. 2014 <br />Property Rights Appraised: <br />F:e Simple Estate <br />Highest & Best Use: <br />Fume condominium development in accordance with the zoning <br />.dc ws I Sunny Isles Beach LDR. <br />Marketing/Exposure Time: <br />'A ithtw t 2 ninths <br />VALUE INDICATIONS <br />Sales Comparison Approach: 557,000,000 - TDR Cost Basis <br />Final Per SF of Allowable FAR $125.00 <br />