The Real Deal Miami

Sales at newly-constructed South Beach #000;background:#ff6

July 26, 2010 12:00PM

The W South Beach

Sales at newly-constructed condos in South Beach doubled in the second
quarter of 2010 compared to the first quarter of 2010, with 31,
according to a new white paper from Condo Vultures. All of the
newly-constructed unit purchases occurred in three projects — W South
Beach, Continuum on South Beach North Tower and the Mondrian — although
another 18 condo projects that are newly-constructed, or, that is, have
been constructed since 2003, still have unsold developer units. The
latest activity means 76 percent of the 5,600 new condo units built
since 2003 have been sold. South Beach‘s market, particularly at the
high-end, has been a hotbed of all-cash activity of late. TRD