Bulk buyers moving more quickly on condos

From the South Florida Web site: “Timing, timing, timing” is becoming the new mantra for investors trying to pull off bulk purchases at the empty condo towers that are Brickell and South Florida’s oceanfront legacy of the building bubble. Rodrigo Nino, founder and president of Prodigy International, is so sure of a recovery in the near future for Miami’s condo market that his investment group purchased 10 units in Brickell on the River — the last batch of developer-owned units at the twin towers — and another 33 developer-owned units in Bal Harbour’s oceanfront Harbour House. Prodigy, which works in Florida, New York and the Caribbean, closes on both deals this month. Nino plans to rent the units at rates that would cover taxes and maintenance fees and sell for a profit in three years to international buyers.

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