New condo sales slow in third quarter

Sales of new condo units in the greater downtown Miami area slowed in
the third quarter of 2010, as developers only unloaded 425 units, the
smallest number in a July-to-September period since 2005, according to a
report from Condo Vultures. Of the units, 155 properties amounting to
150,000 square feet were those reverted back to the development partners
at the Plaza at Brickell. The remaining transactions generated $108.6
million in sales. In the same period in 2009, developers sold 823 units
for a total of $223 million. Among downtown towers, Icon
Brickell has been performing well.TRD