The Real Deal Miami

Condos on Brickell seek bulk buyer

December 15, 2008 09:32AM

The recently completed 1060 Brickell Avenue two-tower condo project is
seeking a single buyer for 346 units — 60 percent of the development
— because selling the units one by one would take too long to allow a
profit. Many developers are hoping for bulk sales to avoid getting into
the rental business, but the tight credit market and wariness of buyers
hoping for further price declines has made such transactions scarce.