The Real Deal Miami

Epic sells 14 condos at 32 percent off

August 24, 2010 12:00PM

The Epic West condominium in Downtown Miami has sold 14 units in a bulk
buy at a 32 percent discount, according to a new report from Condo
Vultures. The purchase for $5.5 million by a trio of entities — two
based in the British Virgin Islands and one in Coral Gables — amounts to an average of $378 per square foot, which is a 32 percent cut from the
previous average of $556 per square foot in the building. The
number is also the highest price paid per square foot for a block of 10
units or more in greater Downtown Miami, according to the report, which
is based on Miami-Dade County and Florida Secretary of State records. TRD