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<br />Sale 4 is located on the northeast comer of Collins A venue and Sunny Isles Boulevard, <br />approximately two miles south of the subject property. This 57,834 square foot site sold in May of <br />2004 for $20,000,000 or $345.82 per square foot. This site is zoned MU-R, Mixed Use Resort <br />District. A luxury condominium apartment building is under construction on this site. <br /> <br />Sale 5 is located on the east side of Collins A venue between 170lh Street and Innd Street, <br />approximately one and two-thirds miles south of the subject property. This 97,300 square foot site <br />sold in October of 2004 for $32, I 00,000 or $329.91 per square foot. This site is zoned MU-R, <br />Mixed Use Resort District. A luxury condominium apartment building is under construction on this <br />site. <br /> <br />Sale 6 is located on the east side of Collins Avenue between 170lh Street and Innd Street, <br />approximately one and two-thirds miles south of the subject property. This 37,165 square foot site <br />sold in nine transactions between January and April of2005 for a total of$13,783,200 or $370.86 <br />per square foot. This site is zoned MU-R, Mixed Use Resort District. This site is currently <br />improved with two-story, 55-unit condominium apartment building. A luxury condominium <br />apartment building is planned for this site. <br /> <br />Sale 7 is located on the east side of CoIl ins A venue, just south ofBayview Drive, approximately two <br />and one-half miles south of the subject property. This 57,064 square foot site sold in June of2005 <br />for a total of $26,000,000 or $455.63 per square foot. This site is zoned MU-R, Mixed Use Resort <br />District. This site is currently vacant. A luxury hotel/condominium apartment building is planned <br />for this site. <br /> <br />A detailed profile of each sale, a photograph of the sales, a sales map, a summary of the sales and <br />a value conclusion follows herein. <br /> <br />QUINLIVAN APPRAISAL <br /> <br />29 <br />