Monday, June 12, 2006

Developer Named Adam Hopes for Return to Eden



The conversion of the Boca East Apartments into The Eden has seemed like a Murphy's Law of real estate - anything that could go wrong has gone wrong.

Buyers who bought at 2002 prices - from the low $200,000s to $500,000 - and planned to move in at the end of 2004 have wondered when, if ever, they will close on their new homes. One said he had been told to get ready to close six different times, each time to be delayed again.

Adam Schlesinger, VP of Ceebraid-Signal and managing partner of the project's development group, sees an end to the string of hurricanes, rising material prices, partner challenges and permit problems. He expects workmen will be back on the site in mid-June and closings on already-completed units could start in early July.

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