The Real Deal Miami

Last 15 units sold at Flamingo South Beach

May 28, 2009 04:19PM

Worldwide Development Services announced today that the last 15 units at the 562-unit Flamingo condominium complex in South Beach have been sold. Each of the final 15 units sold for about $5 million, five to buyers from Italy paying all cash, and the remaining 10 in a bulk sale to a Philadelphia-based real estate holding company that had already purchased 19 units in the building. Sales began in the building in 2006, and over 100 of the building’s units have sold since 2008. Now that the inventory has sold out, sales agent Worldwide Development Services has launched an in-house resale program to help current unit owners upgrade their condos before reselling them. “Aside from entrusting an investment to a team of experienced real estate sales professionals, owners will have the benefit from daily walk-in traffic to our sales office, which is permanently located at the Flamingo South Beach,” said Roland Ortiz, co-founder and partner of Worldwide. TRD