The Real Deal Miami

Edge units sold at auction

November 17, 2008 09:38AM

Buyers snapped up 33 units at the Edge condominium in West
Palm Beach in a 90-minute auction Saturday. Buyers paid a combined $6.3 million
for the units, originally priced at $13.7 million. Prices ranged from $131,000
for 671 square feet to $290,000 for a 1,175-square-foot, two-bedroom condo. Many
of the auction buyers were investors or second-home buyers, and one buyer
purchased 17 units as an investment. Developer Wood Partners cut prices at the
Edge because many other area buildings are nearing completion.