Dezer Properties takes stake in Sunny Isles Beach Trump Towers
As the Related Group unwinds projects, Dezer Properties has taken over the Miami mega-condo developer’s ownership stake at Trump Towers in Sunny Isles Beach and is assuming the remaining debt on the property.
Condominium prices are being cut by at least 30 percent at the newly built skyscrapers, said Dezer Properties President Gil Dezer, as the company tries to unload hundreds of unsold units amid a troubled real-estate market.
Real-estate experts say the prices now rank below competing new oceanfront properties countywide.
The three-tower, 813-unit oceanfront condominium project at 16001 Collins Ave. was co-developed by Related and Dezer — with Related responsible for construction and financing and Dezer in charge of sales and marketing, Dezer said. The towers derived their name through a licensing deal with New York real-estate mogul Donald Trump.