WCI Originally Sold One Bal Harbour Units for $1,100/SF
The NYT article below cites increased sales activity at a downtown Miami project including the bulk purchase of 31 units by a Latin American investor at roughly $200/SF, or 50% off original pricing. As good as that sounds, how about 94% off original pricing...in Bal Harbour. According to Condo Vultures, a private equity group recently closed a bulk purchase of 51 oceanfront condo/hotel units at the Regent Bal Harbour. The same group, Elcom Condominium LLC, also paid $12 million for the building's common areas. Meanwhile Regent, which walked away from a South Beach project two years ago, has pulled out of the Bal Harbour project as well.
0 comments:
Post a Comment