The Miami News du lieu suivant : Miami, Florida • 10

10A Tuesday. March 24, 1987 Tha Miami North ade luxury radios sellin at a surprising pace JIM STEINBERG Miami News Reporter I It may be the Hit miuwv It ii mi ii. units average nearly $339,000, isn't expected until early 1988. Sales have been so successful that Williams Island is planning an additional 67 low-rise units of Mediterranean Village plus a second tower. Lamondin said.

One reason for the development's improved performance, Lamondin said, was a strong push during the summer months for sales business. "There seems to be an attitude here that you have to wait for 'the season' to make sales, and I just don't buy it," he said. Additionally, advertising dollars were diverted from the northeastern United States to South Florida. "Our strategy is to get them while they are here," he said. Also reporting some hefty buying is William Hirshon.

project director of The Waterways, located north of 207th Street, between Biscayne Boulevard and the Intracoastal Waterway. Since Feb. 1, Hirshon said his people have sold with 10 percent non-refundable deposits 44 townhomes from just under $200,000 to just under $400,000. Construction won't start on the waterfront property until July. "There's a limited availability of waterfront property.

It gets snapped up right away," he said. "It is a home run." On the other hand, another type of project at The Waterways, $140,000 townhomes set back from the water, have been "a steady seller, but nothing spectacular." Joyce Bronson, vice president of Ben Franklin Service Corp. and project director of Mystic Pointe, reports having sold 219 of 313 waterfront units even though the first units won't be ready for occupancy until November. Units are priced from $84,000 to $199,000. Bronson said buyers include more working people, who now live in North Miami Beach, than was expected.

"We are seeing quite a few two-income families where one works in Fort Lauderdale and one works in Miami." ll Hit IMM'il' S'1 The high-end. waterfront condominium market in the Aventura-Turnberry area is bursting out of a long slumber. New luxury condominiums are selling at a brisk pace that hasn't been seen in years, say developers and real estate analysts. The market is so hot, in fact, that some units are selling from plans before construction has even begun. "It may be the beginning of a trend or it may be a short-lived boom.

I don't know and I don't think anybody knows," said Michael Cannon, president of Appraisal and Real Estate Economics Associates a Kendall-based real Estate appraisal and market research firm. While acknowledging the burst of Sales in North Dade, Cannon noted it is not a countywide phenomenon. "There are some inconsistencies in the market. Key Biscayne is starting to show some activity too, but not as much." Meanwhile, Cannon said, some projects on Brickell and near the downtown eentral business district "aren't getting their fair share." Others think the North Dade boom will remain isolated. "New products, good broker networks and a good location make this one of the best submarkets in Dade County," said R.

Thomas Powers, chief economist for Goodkin Research in Lauder-hill-by-the-Sea. "It is perceived differently. I almost hesitate to say this, but it is not seen as being 'down in "Low interest rates, and more aggressive pricing and marketing" are part of the reasons for the turnaround." "The harbor and yachting community" environment is luring second-home empty nesters from the Northeast," said Armando Candjo, a market analyst with Goodkin. "The boat people are here." There are also foreign buyers and beginning of a trend or it may be a short-lived boom. I don't know and I don't think anybody knows.

Michael Cannon even some investors, Candjo added. One developer noted that several buyers from Broward County were actually moving back into Dade. But not everything in the Aventura-Turnberry area is gold. While developers describe sales of waterfront units as "spectacular," they say units set back from the water are only selling "reasonably well." And older units sold better last year, according to Phyllis Chernoff and her partner, Sheryl Marbin. Both are sales associates with The Keyes Co.

in North Miami Beach. "It may be that the new units are pulling away sales from the older units," Chernoff said. Nevertheless, inventories of older stock are moving. Since June, the year-and-a-half-old Williams Island tower has gone from 42 percent sold to 90 percent sold, said Richard Lamondin, executive vice president for marketing and sales. About 60 percent of those sales have closed and the balance are secured by 10 percent non-refundable deposits, Lamondin said, adding that the average selling price for the units has been about $313,000.

Phase I of Williams Island's Mediterranean Village has sold 26 of its 37 units as "just a hole in the ground," Lamondin said. Completion of the project, whose wn iwi't IT We Ml r.1 Tht Miami Newt AC MONTANARI Richard Lamondin: Williams Island tower is nearly sold out Several delegates to IDB conference criticize the U.S. bid for more control MARY MARTIN Miami Nwb Reporter Several Latin American, European and Caribbean representatives of the Inter-American Development Bank were critical today of the U.S. position on the bank's future operations. In the strongest official statement made publicly so far at the IDB's annual meeting, Manuel Azpurua Arreaza, Venezuela's minister of finance, said that using the bank "to satisfy the interests of the international commercial banking system" would undermine its purpose.

In addition, Azpurua Arreaza said that "certain of the condi- Norway, the bank's newest member, represented by development Minister Bernt H. Lund, said Latin American nations "should have a decisive role to play in the bank." He took no stand on the U.S. veto issue. Yesterday, Jamaica Prime Minister Edward Seaga said he believes the United States should compromise on its demands to exert more influence over loans from the Inter-American Development Bank so it can reach an agreement with the bank's other members. Nevertheless, Seaga also said he supports the U.S.

position on policy based-lending, sayings its benefits have been proven in Jamaica. Seaga said the bank's board of governors, in a private weekend session, have already decided to defer action for at least two months on the U.S. bid, despite some members' urgent calls for a fast settlement. The bank's 28th annual meeting is being held in Miami this week at the Inter-Continental Hotel, where about 3,000 participants have attended sessions on the Latin American debt problem and the IDB's future in development loans. The bank is seeking $25 billion in new funding guarantees for the next four years for development loans to Latin America and the Caribbean.

Baker formally announced at the inaugural session yesterday a plan that would double the U.S contribution in cash and loan guarantees, to more than $9 billion, in return for concessions aimed at tightening the bank's control over borrowers. The most controversial aspect of the plan entails increasing the U.S. voting share on the board of governors from 34.5 percent to a majority probably about 65 percent. Baker said yesterday the proposed U.S. contribution would represent 70 percent of the bank's total resources and ought to be accompanied by a commensurate voice in its operations.

That condition has been protested by member nations who have known the substance of Baker's proposal for some time. Seaga said the U.S. position on voting shares may have to be modified to accommodate the positions of other nations. Seaga did not say how much influence Baker should be willing to accept. But in regard to the U.S.

bid to condition loans on economic reforms, Seaga did not waver. "It is very biMer medicine in terms of social and political cost." he said. "Some countries will shy away from it." But Jamaica has already gone the painful route of economic adjustment, he said, and is "now showing the benefits." Fidel Chavez Mena, El Salvador's minister of economic development, yesterday also criticized the proposal when he said that Central America would not endorse changes in bank policy that would detract from the region's ability to determine its own course. "There is no single and universal avenue to development," Chavez Mena said. He blamed the region's economic stagnation on "strong external pressures" and said the sudden plunge in coffee prices has particularly hurt the area's efforts at economic rejuvenation.

Chavez Mena said Central America wants the IDB to remain a "regional instrument of development." Other participants at the meeting reserved their criticism for the IDB itself. Miguel Angel Fernandez Ordonez, alternate member of the board of governors for Spain, said the IDB has "failed to perform its assigned financial role in 1986." Seaga tions being proposed" to the bank's members "would distort the multilateral nature of the bank eliminating its dist'netive Latin American accent." The minister was referring to a U.S. proposal outlined yesterday by U.S. Treasury Secretary James A. Baker III to link new loans to changes in the region's economic policies and to increase U.S.

voting power on the bank's board. Errol W. Barrow, prime minister of Barbados, added his objections: "We have not been prepared to countenance an arrangement whereby a single shareholder albeit the largest would have an effective veto. Ian Buist, representing the United Kingdom, supported the U.S. position of policy-based lending for the IDB "in close relationship with the World Bank and the IMF (International Monetary Fund)." Music, Music, I a NO CREDIT CMtCK MO INCCtiE CHtCK I a LOW MONTHLY PAYMENT a U.S.

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seeking painless way to crack down on Japan The Reagan administration is considering cracking down on Japanese chip makers for alleged "dumping" of semiconductors by putting carefully targeted tariffs on certain Japanese electronics products, sources say. The Japanese government, alarmed by the rising sentiment for tariffs, moved yesterday to head off U.S. retaliation by urging its computer chip makers to cut production by 30 percent in the next three months. Members of the Cabinet-level Economic Policy Council, who meet Thursday, are leaning against blanket tariffs because they would hurt U.S. consumers by pushing up prices of many imported products, another administration source said.

More likely are penalty tariffs aimed at products where Japanese producers face competition and could not afford to raise prices to compensate for the tariffs. Alden insurance firm being sold A management group at Miami's John Alden Life Insurance Co. has made a definitive agreement to buy the company for $280 million, it was announced today. The group, headed by company President Glendon E. Johnson, has arranged the buyout from parent company Great Western Financial Corp.

of Beverly Hills, Calif. GECC Capital Markets Group Inc. is arranging the financing. Great Western is selling the insurance company to concentrate its assets on its core businesses of retail and mortgage banking, mortgage lending and consumer finance, said Great Western chairman and chief executive officer James F. Montgomery.

Posner retrial set for November The new tax-evasion trial of Miami Beach financier Victor Posner has been put on hold while prosecutors deal with the Iran-Contra affair and Wall Street's insider trading investigation. U.S. District Judge Eugene P. Spellman set jury selection for Posner's new trial for Nov. 4 after lead prosecutor C.

Chris Todd told him last Friday he will no longer be involved in the case. Neil S. Cartusciello, who helped Todd in Posner's first trial, said he may need help. Todd is joining the staff of Special Prosecutor Lawrence E. Walsh for investigation of the Iran arms sales and alleged diversion of funds to Nicaraguan Contra rebels.

Rates down on Treasury bills Interest rates on short-term Treasury securities fell for the second consecutive week in yesterday's auctions, returning to levels in effect at the beginning of the month. The Treasury Department sold $6 4 billion in three-month bills at an average discount rate of 5.55 percent, down from 5.58 percent last week. Another $6.4 billion was sold in six-month bills at an identical discount rate of 5.55 percent, also down from 5.58 percent last week. The rates were the lowest since March 2 when three-month bills averaged 5.47 percent and six-month bills sold for 5.51 percent. Florida notes Ventra Management Inc.

subsidiary Joint Venture Leasing Hialeah, and Modular Computer Systems Inc. have established a jointly owned leasing company Eastern Airlines' machinists union has filed a countersuit in response to management's harassment suit of last month; no date has been set for hearings on either side of the case Microtel Boca Raton, completed the acquisition of Jacksonville-based US Dial and its parent organization, American Teledata Corp. Dollar hits record low against yen The U.S. dollar plunged to a record low against the Japanese yen today, prompting Japan to call for coordinated intervention by central banks. In Tokyo, the dollar slumped 1.93 yen to close at 148.80 yen.

its lowest level since modern exchange rates were set in the late 1940s. In London, the dollar was quoted at 148.66 yen. Gold prices rose. Fro" W'tni News ire service and other lourcts Rock. Country.

Rhythm and Blues. Soul. Chorales. Instrumental. Vocal Chart for success by advertising in Amusements.

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in Washington. In response to Besen's comments. WTVJ general manager Alan Perris said, "Why would we do that? We make more money selling commercials from highly rated programs than selling lower rated ones." WSVN's contract to carrv NBC programs runs through 1988. In the petition WSVN said that WTVJ is already pre-empting CBS programming and not promoting other CBS shows in anticipation of a station flip-flop. WTVJ is "not pre-empting any more CBS programs this year than last year." Perris said.

"It sounds like a lot of this is based on conjecture and hypothesis." In an affidavit, Edmund N. Ansin. president of Sunbean Television which owns WSVN, said NBC's interest in WTVJ has made advertisers and ad agencies reluctant to make long-term advertising commitments to WSVN. YUTH FAIR Stop by The Miami News booth and register for a FREE PRIZE DRAWING uThc finest Gold Coins Proof American Eagles, PCCS Coins and Precious Metals. EPICURE t65 Alton Rood.

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