An Official Statement From Privé Developers, LLC

Privé Island – June 12, 2014

An Official Statement From Privé Developers, LLC:

“In recent days, various media outlets have reported on the status of several pending litigation items related to the development of Privé at Island Estates. While certain media outlets have taken measures to report the facts in an unbiased manner, with input from all relevant parties, others have resorted to sensationalized, hasty, inaccurate reporting.

Privé is fortunate in that we have the support of the City of Aventura and other agencies and have received preliminary site plan approvals, as well as test pile building permits having been issued just last week. We continue to forge ahead, with approximately 50% of units reserved with many converting to contracts over the past several weeks and many more in process, groundbreaking scheduled for this later this year, and continuation of our efforts with processing the administrative aspects of the project.

The following outlines some recent salient facts:

  • On Monday, June 9, a Miami-Dade Court hearing involving Williams Island Property Owners Association, Island Estates Homeowners Association, and Privé took place.
  • The hearing was simply an attempt by the Plaintiffs (WIPOA and Island Estates Homeowners Association) to postpone a Motion for Summary Judgment previously requested by Privé Developers, LLC scheduled for June 13. WIPOA’s goal has been consistently to delay (15 months thus far) any substantive decision on the real issues, their purpose to stall and delay any negative outcome against them in court on their meritless case. Contrarily, our goal was to expedite a ruling on the case, which centers on the development rights for the Privé site – rights that we know predate the incorporation of Aventura, and as have been further affirmed by the City of Aventura repeatedly from 1999 through to present day.
  • As a result of the June 9 hearing, a 90-day stay was placed on the action and it is now subject to rescheduling. Although the Motion for Summary Judgment hearing will no longer take place on June 13, there was no substantive decision made on the matter.
  • Separately, Privé Developers, LLC has been going through the administrative permit process regarding a sidewalk permit and awaits further response from the City of Aventura regarding its most recent submissions. The application is currently classified as pending.
  • We continue to work with the city in facilitating the process, have responded to requests for additional information, and remain confident that the matter will soon be resolved in our favor.

Any claims to the contrary are not accurate.

As always we thank our extraordinary team and network of domestic and international agents and buyers old and new who continue to support our efforts, applaud our progress, and help to dispel the naysayers who don’t take the time to get the facts straight before commenting without regard.”

Should you have any additional questions or concerns, please feel free to contact Gregory Freedman and Daniel Lebensohn at 305-440-4397.

Sincerely,

Privé Development Team

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About Privé at Island Estates

Privé® is located on an 8-acre private island set between Williams Island and Sunny Isles Beach. The twin iconic 16-story towers designed by renowned architects Sieger Suarez, will be comprised of a total of 160 ultra-luxury residences ranging in size from 2,585 square feet to more than 9,000 square feet for select penthouse units.

Every Privé residence will feature private elevator entry, flow-through floor plans with 10-foot glass on both eastern and western exposures, full 10-foot-deep balconies, expansive east/west water views throughout, European kitchens and bathrooms, as well as outdoor summer kitchens. First-class, resort-style amenities and services include a 10,000-square-foot gym and spa in each tower, private dining and social rooms, pool-side café, wine and cigar rooms, kids’ rooms, tennis court, two pools and jacuzzis, marina, private pier, nature trail, private beach, jogging path, 24-hour gated entry and roving security, and full-time concierge.