Condominium resale activity in the Hollywood/Hallandale Beach area fell 17 percent in the first quarter, compared to the same period in 2011, although prices rose, according to a report from Condo Vultures. A total of 345 condo resales transacted in the first three months of 2012, down from 410 in the first quarter last year. [more]

Trump Towers in Sunny Isles

The sales of new condominiums fell by 9 percent in Sunny Isles Beach in the first quarter of 2012, according to a report from Condo Vultures. Less than 65 units were sold in the first three months of this year, compared to 70 in 2011. In 2010, that number was as high as 100. “Buyers looking at the Sunny Isles Beach condo market have many factors to consider,” said Peter Zalewski, founder of Condo Vultures. [more]

Marlins Park

While there was much optimism that the new Marlins Park would generate renewed interest in the local Little Havana area, the impact has been slight so far, according to Peter Zalewski, founder of Condo Vultures. In a Miami Herald column, Zalewski said the neighborhood’s resale market saw just seven single-family sales and three condo sales in the first four months of 2012. [more]

Lenders seized over 10,000 residential properties in the first quarter of 2012 in South Florida, according to a report from Condo Vultures. “More than 165,000 properties in South Florida have changed ownership forcibly in South Florida since the first year of the real estate crash in 2007,” said Peter Zalewski, a principal with brokerage and consultancy Condo Vultures. [more]

Initial default notices in South Florida rose by 51 percent in the first quarter of 2012, according to a report from brokerage and consultancy Condo Vultures. There were more than 10,000 initial notices of default in the first 90 days of this year, compared to around 7,000 in the same period in 2011. [more]

With 26 already on the way in South Florida, Miami will now see another three new condominium projects, with two in Coconut Grove and one in Miami Beach, according to a report from Condo Vultures. The Grove at Grand Bay, which will be on the site of the soon-to-be-demolished Grand Bay hotel, will feature two towers, and the Versailles on the Ocean in Miami Beach will have one. [more]

Developer Silvia Coltrane is planning an 18-story, 170-unit condominium tower in downtown Fort Lauderdale, the 26th new tower proposed of what is becoming a South Florida building boom, according to Condo Vultures.  “Developers are rushing to market with plans for more than two dozen new condo towers with nearly 5,400 units and counting in South Florida,” said Peter Zalewski, founder of brokerage and consultancy Condo Vultures. [more]

101 Lofts in WPB

Sales of new-construction condominiums in downtown West Palm Beach increased by 17 percent in 2011 compared to the previous year, according to a report from brokerage and consultancy Condo Vultures. The Downtown West Palm Beach and Palm Beach market saw an average of 10 new condo sales per month, although 620 unsold developer units remain on the market. [more]

Palmetto Fifth Avenue

A bulk buyer paid almost $7.8 million for 15 of the 16 units at the Palmetto Fifth Avenue condominium in Boca Raton in December, according to a report from Condo Vultures. The deal led to a 12 percent increase in developer sales in Boca Raton in 2011. “As developer condos are acquired and prices rise in Miami-Dade and Broward counties, investors are increasingly considering the unsold boom-era inventory in the Boca Raton/Deerfield Beach coastal market,” said Peter Zalewski, founder of Condo Vultures. [more]

The proposed Porsche tower in Sunny Isles Beach

In 2011, luxury condominium resale activity jumped by 29 percent, according to Condo Vultures’ Peter Zalewski. But while foreign buyers, armed with strong currencies, drove the market in Miami last year, indications are that the market is here to stay for now. Topped by a $21.5 million sale at the Setai Resort & Residences in Miami Beach last year, Miami’s luxury market is now seeing a wave of new development, including five new luxury towers planned in the area with sales prices topping $1 million per unit. [Miami Herald]