HomeMy WebLinkAboutR-97-0414R-97-0414
No Resolution on file
with the Clerk's Office.
See attached
supporting documents
and minutes for said
resolution.
Li
Pendinglegislation 10:52 AM09/12/2000
June 9, 1997
97-414
Legis
Fortune Realty
W
CITY OF MIAMI, FLORIDA
INTER -OFFICE MEMORANDUM
TO : Honorable Mayor and Members DATE June 6, 1997 FILE
of the City Commission
SUBJECT : pocket Ite r. i for 619/n7
FROM Humberto Hernandez REFERENCES:
Commissioner ENCLOSURES:
Attached please find copy of a letter from Rosy Cancela of Fortune International Realty
in reference to the listing for the units at Saint Hugh Oaks Village. This exclusive
contract expires on July 4th, 1997, and Ms. Cancela is asking for a one vear As
stated in her letter, after spending much time and effort, 6 out of the IS units have.. b(!.c.n
sold; however, due mainly to lack of security in this project, sales have ber;JJ d111`-111i.
At this time, they are proceeding to enclose it and she is hopefid this will hell-)
remaining units. Ms. Cancela has provided documentation shownli '-
advertisement was done throughout this past year.
Thank you for your cooperation.
97- 414
J r,
International Realty
May 28, 1997
Commissioner Humberto Hernandez
City of Miami
3500 Pan American Drive
Miami, Florida
Dear Commissioner:
As you know, I currently have the listing as an exclusive agent for the sale of I lic. Limits at
Saint Hugh Oaks Village.
Our contract with the City of Miami expires July 4th, and this is the reason for my letter.
St. Hugh Oaks was developed by the City almost three years ago. The city had it.�t� F.rlc;,i
to sell and finance the 23 Units via a Lottery. It is my understanding that because of lti*li
cost in building after the Hurricane, and for reasons out of the City's hands to finance: t!ne
Units, the process of the Lottery fell through and these Units basically sat for almost two
years, with the exception of 4 of the homes which sold on their own.
Last year I took the listing on 18 of the 23 Units, it has not been an easy task to sell this
project. Through advertising (see attached) and open houses we have been able to draw
attention to the development, and have had a number of contracts come through;
unfortunately, some of them have not consummated for different reasons, number one
being the issue of security, which I have brought to your attention numerous times in
earlier correspondence (see attached); some of the other reasons have been financial,
where a Buyer has not qualified, and other reasons have been where Buyers have just
backed down for pure Buyer's remorse.
In spite of this, we have successfully closed on 5 of the Units, with one closing; today,
which brings it to a total of 6 units. This means that there are still 12 Units remaining for
sale.
We have now had two meetings with the Condominium Association, two horneoNvnen:
have been added to the Association, and it looks as though we are finally moving. toward
enclosing the project.
375 Miracle Mile. Coral Gables, FL 33134 Tel• (305) 446-2292 Fax: (3(h) 44 ! 293:1 9 I "" 1
(Y
While the enclosure will make it much more attractive to Buyers, and although interest
rates are still low, it is a Buyer's market, and only through aggressive nia.rkaing ivill wve
proceed in selling the remaining Units.
I truly believe in the success of Saint Hugh Oaks, after spending time and effort in selling
the project in the last year, I would like to renew our exclusive contract for another year
and finally sell out.
I would like the opportunity to meet with you in the coming days to answer any questions
you may have as it relates to this project.
Sincerely,
P.-
Rosy Cancels
Enc.
l
cc: Linda Kearson, Asst. City Attorney
Ed Marquez, City Manager
97- 414