Fla. Developer Verzasca Exec Sees Shift To Affordable Luxury

Law360, New York (April 16, 2015, 2:56 PM EDT) -- Ultraluxury condos in key U.S. markets have created a wide price gap compared with lower-end properties, and Tim Lobanov of Florida developer Verzasca Group told Law360 in a recent interview he's "100 percent sure" firms will increasingly look to build what he calls affordable luxury condos to fill that space.

Lobanov is managing director of Verzasca, based in Bay Harbor Islands, Florida, north of Miami Beach and between Miami and Hollywood. While Verzasca Group develops a variety of asset classes worldwide, one of its primary focuses of late has been Florida condos. When the firm started to look at the Florida market,...

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