LTC 020-2005 Update on Status of Auction of City-Owned Property on 2620 Biarritz Drive
CITY OF MIAMI BEACH
Office of the City Manager
Letter to Commission No. 020-2005
m
To:
From:
Mayor David Dermer and Date: January 27, 2005
Members of the City Commission
Jorge M. Gonzalez .~. /~
City Manager D
UPDATE ON STA; 5 OF AUCTION OF THE CITY-QWNED PROPERTY LOCATED
2620 BIARRITZ DRIVE
Subject:
Please be advised that negotiations have been successfully concluded with Fisher Auction
Company, Inc. (Fisher), the firm ranked highest by the respective Selection/Evaluation Committee
and approved by the Mayor and City Commissioners. The Auction has been scheduled to occur at
3:00 P.M. on Friday, February 18,2005, and will be held on-site.
Salient points of the Auction Contract include:
. The property will be sold, "As Is" and "Where Is" with the City making no representations,
except that it will provide clear and marketable title.
. The property will be sold to the highest bidder, subject to final approval by the Mayor and
City Commission, as to price, and approval of the Real Estate Sales Contract.
. Prospective bidders must register and provide an initial deposit, via cashier's check, in the
amount of $50,000 prior to the auction event. The successful bidder will have to provide an
additional deposit, that when combined with the initial deposit is equal to 100/0 of the
purchase price that is bid.
· The Real Estate Sales Contract must be executed by the successful bidder (and any
alternate "back-up" contracts) "on-site" the day of the auction.
. Advertising and promotion of the auction event will include regional realtor association(s),
local, national, and international media exposure, internet exposure and direct mail to
Fisher's list of prospective bidders and real estate professionals.
. The fee will be based on a Buyer's Premium of 50/0 of the closing price, 2.50/0 of which will go
to Fisher and 2.50/0 to a cooperating Broker, if representing the high bidder (If no broker is
involved, the 2.50/0 will go to the City). The cost of the Buyer's Premium will be borne by the
successful bidder, and will be in addition to the high bid price.
. If the transaction with the successful bidder or alternate bidder(s) is not approved by the
Mayor and City Commission and/or the sale does not close, no fee will be paid to Fisher,
except for pre-approved reimbursables, which are estimated at $14,000 (+/-).
. It is expected that closing of the sale with the successful bidder should take place within 40
days of the auction event.
Attached for your information is a copy of the Executive Summary, and a postcard that has been
disseminated by Fisher to their list of potential bidders and/or agents.
If you need additional information, please advise.
JMG:C~JD:rd
F:\DDHP\$ALL\ASSET\ 1833BA Y\2620AuctionL TC.doc
c: Christina Cuervo, Assistant City Manager
Tim Hemstreet, Capital Improvement Projects Director
Jose Damien, Asset Manager
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Executive Summary
Biscayne Bayfront Residential Homesite
2620 Biarritz Drive, Miami Beach, Florida
Auction Date I Time:
Friday~ February 18,2005 at 3:00 P.M. E.S.T.
Auction Location:
2620 Biarritz Drive, Miami Beach, Florida
Auction Dav Deposit(s):
. $50,000.00 Cashier's Check Made Payable to Bloom and
Minsker, PL, Trust Account
. An Additional Deposit in the Form of a Business or Personal
Check bringing the Total Deposit to an Amount Equal to 10% of
the Total Contract Price Made Payable to Bloom and Minsker,
PL, Trust Account
Property Inspection:
On-Site Inspections Should Be Coordinated by Contacting Francis
Santos, Fisher Auction Co., Inc. at 954.942.0917 x16 or you may
Drive by at your Convenience
Broker Participation:
. Fifty Percent (50%) of the Five Percent (5%) Buyer's Premium
. Call or Visit our Web Site for the Mandatory Broker
Participation Registration Form
Description:
A Biscayne Bayfront Residential Homesite with Wide Bay Views
Address:
2620 Biarritz Drive
Miami Beach, Florida 33 141
Location I Access:
. A Gated Community
. Across from the Soon-to-be Renovated 18 Hole Public Golf
Course and Tennis Facility
. Located on an Island in Biscayne Bay
. Access via Biarritz Drive or Bay Drive from Normandy Isle
which connects to the Mainland via State Road 943 (the J.F.
Kennedy Causeway)
From 1-95 Exit N.W. 79th Street. Travel East to Normandy Isle. Turn
Left on Biarritz Drive and Proceed through Guard Gate to Property.
Directions to Property:
City Limits:
Miami Beach, Florida
County Limits:
Miami-Dade County, Florida
Property Size:
. .30::!: Acres
. 79.47:t Feet x 182.99:t Feet x 72.73-J:. Feet x 152.11-J:. Feet
12,795:t Square Feet
. Irregular Shaped
. See Property Survey
'Vater Fronta2:c:
721:- Feet on Biscayne Bay
Road Frontaf!c:
79:t Feet on Biarritz Drive
I~el!al Description:
Conunence at the northwest conler of Tract 46A, NORMANDY
GOLF COURSE SlJBDIVISION, according to the plat thereof,
recorded In Plat Book 44, at Page 62, Public Records of Miami-
Dade County, Florida. Said point also known as the northwest
comer of Lot 18, SUBDIVISION OF TRACT 46-A OF
NORMANDY GOLF COURSE SUBDIVISION, recorded In Plat
Book 55 at Page 95, Public Records of Miami-Dade County,
Florida; thence, from the northerly line of said Tract 46A, deflecting
79036' 34" to the left to the tangent of a circular curve concave to
the southeast, having a central angle of 12 0 52' 32" and a radius of
2225.00 feet and run along the arc of said curve for a distance of
500.00 feet to the POINT OF BEGINNING of the tract of land
herein described. Said point being the southwest comer of Lot 1,
Block 65, NORMANDY GOLF COURSE SUBDIVISION,
recorded In Plat Book 44, at Page 62, Public Records of Miami-
Dade County, Florida: thence North 76030' 00" East, along the
south line of said Lot 1 for a distance of 182.99 feet to the southeast
comer of sold Lot 1: thence South 240 39' 44" West, along the
southerly extension of the east line of said Lot I for a distance of
79.47 feet to a point of tangency; thence run along the arc of a curve
concave to the southeast, having a central angle of 30 12' 33" and a
radius of 544.71 feet for a distance of 30.51 feet; thence South 850
12' 32" West for a distance of 152.11 feet: thence along the arc ofa
curve concave to the southeast, whose radius bears South 750 59'
45" East having a central angle of 010 52' 23" and a radius of
2225.00 feet for a distance of72.73 feet to the POINT OF
BEGINNING. Said lands located, lying and being in the City of
Miami Beach, Miami-Dade County, Florida.
Real Estate Taxes:
Currently Tax Exempt and assessed with the Normandy Golf Course
Zonine::
. RS-3, Single Family Residential District
. See Zoning Information for Permitted Uses, Building
Requirements and Set Backs
Flood Zone:
. Zone "AE"
. Map No. 12025CC0094, Panel No. 0094
. Base Elevation 8 Ft.
Topoe:rapbv:
Level to Grade
2
Utilities:
Public Water
Public Sewer
Public Electric
Public Telephone
Homeowners Association:
There is a HOA but participation is not mandatory and there are no
fees, except for those collected through the Ad Valorem Taxes for
the operation costs of the guard gate(s) in the community
Additional Comments:
Neighborhood Consisting of Single Family Homes
Schools, Parks, Public Transportation, Shopping Facilities are
within Close Proximity
Environmental Report:
See Phase I Environmental Site Assessment
The information above has been obtained from sources deemed reliable. \\'hile we do not doubt the
accuracy, we have not verified it and make no guarantee, warranty or representation about it. Any
projections, opinions, assumptions or estimates used are for example only and do not represent the current
or future performance of the property. It is your responsibility to independently verify the accuracy and
completeness of the information.
3