The Real Deal Miami

Investor takes 132 units at Miami

August 10, 2010 11:15AM

An institutional investor has purchased 132 units at the Vista Lago at
the Hammocks condo in Miami for around $161 per square foot, a 34
percent discount off of the average sales price to date, according to a
new report from Condo Vultures. The buyer, Vista Lago Condos LLC, paid
$16.7 million, including an assumption of $14.3 million in debt, for
just over half of the 248-unit complex at 10560 SW 156 Place. The
previous 113 units sold went for an average price of $243 per square
foot. TRD