The Real Deal Miami

South Florida real estate in brief

June 26, 2009 05:59PM

Corcoran to market Landmark
The Corcoran Group has been named the exclusive sales and marketing agent for the Landmark in Palm Beach Gardens. The building is nearly 70 percent sold, according to a press release, with move-ins slated to begin this summer. The developer previously handled the building’s sales and marketing. The two- and three-bedroom units range in price from $299,000 to more than $1 million. Amenities include valet parking, swimming pool and fitness center.

Average unit discount hits $357,500
The nearly 900 units in the Condo Vultures database that closed in the first five months of 2009 saw an average discount of 54 percent, or $357,000, according to a report from the real estate consultancy. The average price reduction was 44 percent in 2008 and 29 percent in 2007. The Condo Vultures database includes nearly 3,800 condos, townhouses and single-family houses east of Interstate 95 in Miami-Dade, Broward, and Palm Beach counties.

Miramar Park of Commerce lowers rents
Miramar Park of Commerce has reduced rents to 1985 prices in an attempt to lease 300,000 square feet of vacant warehouse, office and flex space. Flex and office space is now available for $5.95 per square foot, a discount of nearly $5 from recent rents. Companies with space in the Miramar Park of Commerce include American Express, Federal Express, Neiman Marcus and Sears. TRD