Originally Posted on Monday, November 27, 2006
A Miami developer has secured $90 Million in financing to cover the entire costs of construction for South of 5th, a new 28 unit condo to be located at 125 Ocean Drive. The project is expected to be complete in about 18 months. Demolition on the site has already begun and the prices for the units will range from $1.5 Million to $10 Million. The projects is unique becuase it is one of the last remaining beach sites in South Beach, and is also located in the prized So-Fi or South-of-Fifth area from which the project takes its name.
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