This developer is betting on Hollywood, with plans to build and then list $1.25M home
Do millionaires want to live in Hollywood? One developer certainly thinks so.
Jeff Morr, the chairman of the Miami Master Brokers Forum, is overseeing the $600,000 construction of an approximately 2,500-square-foot home at 1441 Monroe St. He plans to demolish the existing and deteriorating home built in the 1920s and build a two-story, three-bedroom, three-bath house starting in six months.
Morr said he expects to complete construction by 2021 and list the home for $1.25 million.
“Hollywood Lakes is the best kept secret of Hollywood,” Morr said. “This is a neighborhood that is comparable to Miami Beach. This is in walking distance to a boardwalk and downtown Hollywood.”
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Hollywood Lakes is bordered by Sheridan and Moffett streets on the north and south, South Ocean Drive and U.S. 1 on east and west.
The architect behind the modern stilt design, Hugo Mijares of H2 Architecture, is working with Morr after purchasing the current home on site in 2017 for $215,000.
If the property were located in Miami Beach, Morr said, the price would have been much higher.
The spec home will include marble floors and stainless steel appliances. A total of five cars will fit beneath the living space.
Homes in the neighborhood range between the low $200,000s to about $5 million. But, Morr said, there is no comparable sale in the neighborhood with what he has in the pipeline.
“Is there a market? No because there is nothing like it on the market right now. But I believe there will be,” Morr said.
This story was originally published January 17, 2020 at 7:00 AM.
