Special mortgage financing available for new Hillsboro Beach condominiums

Feb. 17, 2010 - PRLog -- HILLSBORO BEACH, Fla.. – Through its bank partner in Buffalo, New York, 1200 Hillsboro Mile, LLC, an affiliate of New York-based Marrano/Marc Equity Corporation, has secured access to special mortgage financing for qualified buyers of new condominiums at 1200 Hillsboro Mile in Hillsboro Beach.

In view of the tight lending market, the news is timely for prospective buyers of the three-bedroom residences at the seaside property, which are featured within two three-story buildings. One of the buildings, bordering the Intracoastal Waterway, is completed, and ground has been broken on an oceanfront building directly across the street. Sales for the 29 units are underway and six residences in the 11-unit Intracoastal building are sold. The 18 oceanfront residences in the planned oceanfront building were recently released.

“Through our company’s longstanding relationship with its primary bank [founded 139 years ago as a community bank in Buffalo], we are able to ensure qualified buyers at 1200 Hillsboro Mile that they can obtain mortgage funding if they need it,” said David DePaolo, Marrano/Marc Equity executive vice president.

The lending provisions provide access to funds in excess of the jumbo loan limit provisions, do not require a presale commitment, and provide for loan amounts up to 75 percent of the property value.

Named for its street address on a coveted stretch of waterfront in the quaint town of Hillsboro Beach, 1200 Hillsboro Mile is ideally situated just south of Boca Raton and Deerfield Beach, and north of Pompano Beach and Fort Lauderdale. Residences have more than 2,000 square feet each and are priced from $650,000 to $1,995,000.

Features such as nine-foot ceilings, elegant kitchens, marble-appointed master baths, and railed terraces that extend the living space to the outdoors contribute to the desirability of
the units. In addition, the condominiums are the only ones in the neighborhood constructed to meet the latest Florida building codes.

The pet-friendly community offers a combined media/club room with a furnished patio entertainment deck, a fitness center, an outdoor pool and spa, and beach and Intracoastal Waterway access. Plus, waterway dockage for two crafts up to 50 feet may be reserved for residents’ visitors and overnight guests.  

“Waterfront property is always desirable and there has never been a better time to buy, particularly knowing we’ve made financing available,” DePaolo concluded.

With more than 50 years of experience, Marrano is the one builder more people choose in Western New York over any other builder. The company builds distinctive single-family homes and patio homes in that market, in addition to condominium communities in South Florida, and $500,000 to $3 million estate residences in some of the most prestigious waterfront and county club communities in West Palm Beach and northward.

For more information about 1200 Hillsboro Mile, call Nita Summers at (561) 706-1918 or (954) 418-8033, or visit www.1200hillsboromile.com.

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