The Real Deal Miami

Rental bargains at Miami condos

April 21, 2009 11:24AM

The Related Group was poised to make millions at a time selling luxury condos. Now it’s bringing in a few thousand dollars at a time, renting out unsold luxury units at rates renters find very attractive. The downtown Miami/Brickell market is courting renters with inexpensive deals, just to fill buildings that would otherwise be empty. Many buyers have walked away from sales contracts, creating thousands of vacant units. [Miami Herald] and [Miami Herald]