Laserfiche WebLink
AppraisalFirst, LLC <br />8101 Biscayne Boulevard, Suite R-516 <br />Miami, Florida 33138 <br />Phone: 305-470-2130 <br />Fax:305-381-8047 <br />E-mail: residential@apraisalfirst.net <br />E-mail: frank(a�appraisalfirst.net <br />September 15, 2025 <br />Eric Fordin <br />MB RE Investments LLC <br />2850 TigerTail Avenue, <br />Miami, Florida 33133 <br />RE: The purchase of TDR's for the proposed Miami Beach Club condominium project to be <br />located at 19051 Collins Avenue, Sunny Isles Beach, Florida 33160. <br />Dear Mr. Fordin: <br />As requested, I have prepared the attached appraisal report of the above referenced property. The <br />purpose of the report is to estimate a cost per unit for the purchase of Transfer Development Rights <br />(TDR's), as it pertains to the underlying subject property, in accordance with the Sunny Isles Beach <br />Land Development Regulations. This appraisal report complies with the minimum standards of the <br />2024 Edition of the Uniform Standards of Professional Appraisal Practice (USPAP), effective <br />January 1, 2024, as published by the Appraisal Standards Board of the Appraisal Foundation. <br />Specifically, this report adheres to the reporting requirements set forth under Standards Rule 2-2(a) <br />of USPAP, as it pertains to an Appraisal Report. <br />The value opinion reported is qualified by certain definitions, limiting conditions and certifications <br />which are set forth on pages 42 through 44 of this report. The extraordinary assumption is stated <br />herein. The report includes no hypothetical conditions. <br />The subject property consists of an 87,660 square foot, or 2.01 acre, re -development site located <br />along the ocean side of Collins Avenue, between 1901h and 191th Streets, Sunny Isles Beach, Florida. <br />The property is currently improved with the Miami Beach Club Motel Condominium building that <br />was completed in 1951. The "U" shaped building contains 104 condominium -motel units and four <br />commercial units. The developer is planning to raze the existing building in favor of 'a 62-story, <br />high-rise, residential condominium tower, with 145 units. <br />533 <br />