The Real Deal Miami

Lionheart latest bulk buy crusader

June 23, 2010 12:00PM

2700 North Ocean in Singer Island

The $120 million transaction by recently-established Lionheart Capital
for 146 units at 2700
North Ocean Drive
on Singer Island marked the 50th bulk buy in
South Florida in the last two years, according to Condo Vultures. With
many of the opportunities taken in Miami-Dade County, especially
downtown Miami and Miami Beach, would-be bulk buyers are now looking
north to Palm Beach County. Lionheart paid approximately $250 per square
foot in the bulk buy, or about $803,500 per unit. Current condo owners
at 2700 North Ocean paid around $520 per square foot, or an average of
$1.47 million. [Miami