The Real Deal Miami

Winthrop House values down 16 percent

May 25, 2011 11:23AM

The Winthrop House condominium in Palm Beach’s Midtown section has seen a
16.5 percent drop from its 2008 peak, according to data from CoreLogic.
While just two of the 114 units in the building are in foreclosure, the
median market value fell from $1.32 million to $1.1 million in 2010.
The first sale in the building this year, however, was for $1.85
million. While around 40.6 percent of Palm Beach County condos have a
homestead exemption, meaning they are the primary resident of a
permanent Florida resident, 45.6 percent of Winthrop House units have
the exemptions. [Palm
Beach Post]