More than $5 million in new condominium sales reported by 1200 Hillsboro Mile

HILLSBORO BEACH, Fla. – The developer of 1200 Hillsboro Mile, a new condominium property located on both the Intracoastal Waterway and Atlantic Ocean in Hillsboro Beach, Fla., announces six new condominium sales in excess of $5 million. The contracts were executed between March and October 2009.

According to Keyes Company Realtors at Mizner Park in Boca Raton, the exclusive sales agent for 1200 Hillsboro Mile, four residences featuring floor plan A sold for a total of $2,799,600. Two residences featuring the B floor plan sold for a total of $2,225,000, bringing the overall six-contract total to $5,024,600.

The two floor plan options have three bedrooms and two and one-half baths, more than 2,000 total square feet and large, covered terraces.

“The buyers included four investors from New York, and two buyers from elsewhere in the Northeast U.S. who plan to make their residences at 1200 Hillsboro Mile a vacation home,” said Nita Summers, Keyes district sales manager. “The long-term investors recognize the desirability of owning coastal property in South Florida, and people continue to want to vacation here, in the privacy of their own homes.”

Continuing, Summers said, “We are seeing a significant increase in traffic and in interested prospects. These consumers recognize that they will never see prices like this ever again, so they are moving forward and purchasing. The prices at 1200 Hillsboro Mile present the kind of opportunity that people will look back on a year from now and say ‘I wish I had bought.’ Plus, we have secured access to financing for qualified buyers who want it.”

Residences are currently offered from $650,000 to $1,149,900 in the completed 11-unit Intracoastal building, where there are opportunities for immediate occupancy, as well as from $1,295,000 to $1,995,000 in the planned 18-unit oceanfront building across A1A.

Among Intracoastal building amenities are a dock for overnight visitors’ boats; a pool, pool house and spa; a designer-furnished lobby; a club/media room with an outdoor entertainment deck; a fitness center; and private, deeded beach access.

“Monthly homeowners fees at 1200 Hillsboro Mile are very reasonable compared to those in full-service buildings. This, too, is a draw for many of our buyers,” Summers concluded.

1200 Hillsboro Mile is situated on a prestigious stretch of coastline known as The Mile. The town of Hillsboro Beach is on a small peninsula just over three miles long, central to Boca Raton and Pompano/Fort Lauderdale. It has a quaint, small town, residential feel while just minutes from world-class restaurants, shopping and entertainment. In 30 minutes or less, residents can be at the Fort Lauderdale/Hollywood International Airport, Port Everglades, or the Boca Raton Town Center mall.

The developer of 1200 Hillsboro Mile is 1200 Hillsboro Mile, LLC, an affiliate of
the West Seneca, N.Y.-based Marrano/Marc Equity Corporation.

For more information, call (954) 418-8033, or visit www.1200hillsboromile.com.