Title
A Resolution Of The City Commission Of The City Of Hollywood, Florida, Approving And Authorizing The Sale Of City-Owned Property Located At 2534 McKinley Street To DPH Investment Group, LLC, In The Amount Of $235,000.00; Authorizing The Appropriate City Officials To Execute A Residential Contract For Sale And Purchase Along With A Warranty Deed.
Body
Staff Recommends Approval of Attached Resolution.
Explanation:
On April 3, 2015, the City acquired the real property located at 2534 McKinley Street, consisting of two separate residential units, from Sean Cononie by Special Warranty Deed.
On November 15, 2017, the City Commission passed and adopted Resolution No. R-2017-330 which approved and authorized the issuance of Blanket Purchase Order No. B003071 with Real Estate Asset Disposition Corp. ("READ") to provide real estate services to the City.
City staff determined that READ would market the property for sale and it would be sold "As Is" with all closing costs to be paid by the buyer.
Signage was installed on-site indicating the property was for sale and it was listed in the Multiple Listing Service. READ's efforts resulted in multiple offers to purchase the property "As Is", and these offers are listed below.
DPH Investment Group, LLC - Hallandale Beach, Florida $235,000.00
Now Home Buyers, LLC - Sunrise, Florida $207,000.00
Aaron Corporation, Inc. - Miami, Florida $192,000.00
2534 McKinley Street Land Trust $185,000.00
Ace Equity Holdings, LLC - Miramar, Florida $180,000.00
Orgill Property Ventures - Palm Beach Gardens $179,500.00
Freedom Source, LLC - Davie, Florida $177,000.00
Rockwood Investments, Inc. - Miami, Florida $175,000.00
Adam-Eran Real Estate, LLC - Fort Lauderdale, Florida $175,000.00
Staff recommends approval of the offer by DPH Investments, LLC of Hallandale Beach, Florida to purchase the property "As Is" in the amount of $235,000.00. The Buyer's offer includes an initial deposit in the amount of $5,...
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