Closings Begin at Terra Beachside 6000 Collins

116-Unit, Six-Story Development Completed, Nearing 75% Sales Level in Eight Months

MIAMI BEACH, (November 18, 2010) – Developer BH III LLC (“BH3”) recently began closings for residences at the recently completed Terra Beachside 6000 Collins, its 116-unit, six-story upscale condominium project on 60th Street and Collins Avenue in Miami Beach.

The project, which originally was conceived by architecture firm Sieger Suarez, broke ground in 2004 but construction was halted before completion due to financial issues.  Locally-based BH3, led by Charles Phelan, Gregory Freedman and Daniel Lebensohn, acquired the property in November 2009 and re-launched construction and sales earlier this year.

In just eight months, nearly 75% of Terra Beachside’s units have been sold.  A majority of those have either closed or are scheduled for closing later this month.  The property was granted its Temporary Certificate of Occupancy from the City of Miami Beach in late September and also has received Fannie Mae and FHA approval.

“Although we offer several financing options, most of our closings are cash buyers looking to capitalize on a value opportunity to own great real estate in Miami Beach at less than 50 percent of its original pricing,” Freedman said.

Terra Beachside 6000 Collins’ innovative architecture includes a translucent, 400-foot atrium spanning the entire length of the property.  Beneath the atrium, Terra Beachside’s six floors overlook a courtyard of gardens and water features.  A three-story, cone-shaped lifestyle center, unique floor plans, rooftop terraces, ground-floor backyards and a collection of inviting features and amenities make Terra an ideal choice for those seeking a contemporary Miami Beach lifestyle.

Residence amenities include Miele and KitchenAid appliances, custom-made designer kitchen and bathroom cabinetry, and Phillipe Starck-designed HansGrohe and Duravit bathroom accessories.  Terra Beachside’s lifestyle center houses an 80-foot long curving lap pool, Jacuzzi, fitness center and media room. The property also includes high-tech electronic surveillance, 24-hour security, secured underground parking garage, wireless internet access throughout the property, and convenient beach access.

One- to three-bedroom residences range in size from 1,095 to 3,495 square feet and are priced from the high $200,000s to more than $600,000.  Each residence includes high-end finishes and 18-foot ceilings.  All two and three-bedroom units are two-story floorplans.  All three-bedroom city residences include private rooftop terraces encompassing an additional 1,350 square feet of living space.  Three fully furnished models – two by the renowned Interiors by Steven G – along with a sales center are open on property daily.  Terra has completely sold out of its one-bedroom residences and only a handful of two- and three-bedroom residences remain.

Miami-based Pordes Residential oversees sales and marketing at Terra Beachside 6000 Collins.  Pordes Residential is operated by Mark Pordes, whose more than two decades of experience includes directing numerous sold out and completed condominium and condo-hotel developments throughout South Florida and The Caribbean.

Terra Beachside is located at 60th Street and Collins Avenue just steps from the ocean and minutes from upscale Bal Harbour Shops and Aventura Mall, delicious fine dining, exciting nightlife, limitless leisure options, the Adrienne Arsht Center for the Performing Arts, scores of art galleries and Miami International Airport.

For additional information on Terra Beachside, please call 305-809-7560 or visit www.terrabeachside.com.