The owners of five luxury condos on Florida’s east coast are renovating a former bank to make room for luxury retail and restaurants.
The property is being managed by Florida Real Estate Investment Trust, or FARTS.
A spokesperson told ABC News, “The properties are fully renovated and are ready for a new life.”
The new owners have bought the 6,700-square-foot condo from a local real estate company.
The five-story condo at 645 N. Ocean Blvd.
in Miami Beach, is located in the Coral Gables neighborhood.
The current owners, the Covington Group, purchased the property in December 2017.
“I’m very excited about what we are doing, and it is really unique,” said Roberta Covingson, the project manager for the project.
The developers hope to renovate the building, which is located at 675 Ocean Blvd., and make it an upscale luxury condo.
“It’s going to be a beautiful place, and the best part is we’re getting all these people here who really love it,” said Covingston.
“It’s the kind of place you want to be in.”
The owners plan to sell the building at a future date.
The renovations were completed last month.