The Real Deal Miami

HSBC entity takes title to Icon units

May 20, 2010 11:15AM

Icon is said to be the most popular condo project in downtown Miami

An HSBC Bank entity has taken ownership of 870 units and three
commercial spaces occupying one million square feet of living space at
Icon Brickell in Downtown Miami, according to a new report from Condo
Vultures. Icon Brickell LLC, an HSBC holding company that was created
at the end of March, took title to the units and space, which was deeded back to
the bank from the Related Group in what was termed a “friendly settlement.”
According to Peter Zalewski, principal with Condo Vultures, Icon is the
most popular project in greater downtown Miami currently. The transfer
of the condos from Related was recorded at a price of $341 per square
foot. TRD