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PRESENTATION OF DATA 41 <br /> over $1,000,000, with some luxury penthouse units carrying price tags of more than <br /> $10.0 million. <br /> Summary and Conclusion —The subject property is located in the northeastern corner of <br /> Miami-Dade County, midway between Miami and Fort Lauderdale and within the city of <br /> Sunny Isles Beach. The subject neighborhood experienced significant re-development <br /> activity from 1997 through 2006, after a period of stabilization occurred following its <br /> build-out in the 1970s. Many older low-rise motel properties along the oceanfront were <br /> torn down for re-development into new, luxury high-rise condominiums and <br /> condo/hotels. Many of these new projects featured unit pricing from around $250,000 to <br /> over $10.0 million for super-luxury and/or penthouse units. The community also <br /> incorporated during this period, in order to gain greater local control over government <br /> and zoning matters. <br /> Supporting retail uses are found along Collins Avenue throughout Sunny Isles Beach, <br /> with good accessibility to other supporting uses on the mainland via causeways at 163rd <br /> Street and William Lehman Causeway. Over the long term, outlook for this oceanfront <br /> neighborhood is considered to be positive for well-conceived and well-located residential <br /> and commercial properties, as the underlying economy continues to recover from <br /> previous recessionary conditions which should be assisted by the ongoing recovery in <br /> the housing market. <br /> Clobus, McLemore & Duke, Inc. <br />