W South Beach reaches over 100 sales mark

The W South Beach condo-hotel in Miami Beach has topped the 100-unit
sales mark, with around 25 percent of the 408-unit project now sold as
of the end of the year, according to a report from Condo Vultures. “The W
South Beach sold condos at an average of 12 units per month in 2010,”
said Peter Zalewski, founder of Condo Vultures. “Many of the buyers were
original reconstruction contract holders who have had nonrefundable
deposits down for several years. As we move into 2011, it will be
interesting to see if the transaction momentum continues as new buyers
will be needed to maintain the pace.” TRD