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Jeff Zbar

SoFla Luxe - South Florida Business Journal

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The way Lon Tabatchnick sees things, South Florida is ripe for some urban infill development.

The Hollywood developer has three recent projects to his name: two Positano developments on Hollywood Beach, and 200 East in Boca Raton.

200 East is a 115-unit, mixed-use development with 27,000 square feet of commercial space. To date, 68 units have sold, with 20 lease options to purchase. In 2011, Tabatchnick sold $25 million in units – priced between $765,000 and $2.5 million – in the downtown Boca Raton development.

Villas of Positano, a boutique, Mediterranean-style community located just south of Sheridan Street on North Ocean Drive in Hollywood, is a 62-unit building that took occupancy in 2008. Last year, Tabatchnick sold his remaining units for between $1.5 million and $2 million. With standard units averaging 3,500 square feet, resales today are getting upward of $500 a square foot, said Tabatchnick, president of Hollywood-based Lojeta Group of Florida.

His next venture: Positano Beach. The complex will include 15 units next door to the Villas, with seven cabanas on the broadwalk facing the recently renourished beach. Units will range from 3,300 to 3,600 square feet. Already he has five reservation binders, Tabatchnick said. Permitting should come in March, and groundbreaking could be this summer.

http://www.sanlorinproperties.com