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The Real Deal Miami

Bulk buy at Pompano Beach condo

February 14, 2011 12:00PM

A Miami entity has purchased 22 ocean-view units in the Sonata Beach
Club condominium in Pompano Beach, according to a report from Condo Vultures.
The buyer, Sonata Grand, paid around $9.7 million for a total of 56,000
square feet in the 14-story project which is located on the west side of
Briny Avenue. “Bulk buyers are scouring the South Florida condo market
searching for oceanfront condos that can be purchased in blocks,” said
Peter Zalewski, founder of Condo Vultures. “The lack of available
product combined with the number of all-cash buyers is prompting prices
to increase to levels many groups are uncomfortable paying.” Sonata
Grand paid an average of $173 per square foot. TRD