Prices down on new Sunny Isles condos

While discounts helped ignite more than 100 new condo sales in Sunny
Isles Beach in the first quarter of 2010, the average sales price for a
newly-constructed condo in the city has fallen 22 percent in the last
two years, according to a new Condo Vultures white paper. The average
sale price for the first quarter of 2010 was $508 per square foot on
the 103 units that closed. Two years ago, the average sales price was
$652 per square foot. The number went down to $578 per square foot in
the same period in 2009. Sales of new condos in Sunny Isles Beach this
quarter totaled more than $100 million. TRD