The Real Deal Miami

Whitney in vulture buyer sights

January 12, 2009 10:00AM

West Palm Beach condo the Whitney may be the second development to be
plucked by vulture investors. Lender iStar Financial in December took
140 of its 210 units from the developer in lieu of
foreclosure, and reports are now circulating that a buyer will pay $150
a square foot for the units. CB Richard Ellis broker Robert Given is
marketing the units for iStar. He confirmed that the condos are under
contract but wouldn’t disclose other details.