Some Recently Completed Projects Have Closing Rates Under 5%
Miami Condo Investments posts some great bar graphs for anyone following the closing rates of recently completed high-rises in Downtown Miami. Four of the five buildings that began closings within the last three months all report closing percentages less than 5%. The four buildings are Infinity at Brickell (21 units or 4.59%), Everglades on the Bay (31 units or 3.95%), Epic (12 units or 3.33%) and Icon Brickell (15 units or 0.84%). These four projects combined added over 3,500 residential units to Miami's already bloated inventory downtown, so it's staggering that only 79 units had closed according to this report. The one exception is The Ivy with 219 closings or 43.8% of the total units.
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