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The Real Deal Miami

High-end condos flirt with $2,000 psf

July 01, 2011 09:40AM

More than 15 luxury condominium projects in South Florida are pricing units
near $2,000 per square foot, according to a report from Condo Vultures.
There are a total of almost three dozen units currently on the resale
market in South Florida that are being offered for more than $2,000 per
square foot as well. Four sellers have units on the block at more than
$3,000 per square foot. “Sellers always have the option of asking
whatever prices they want without any guarantees that the units will
transact,” said Peter Zalewski, founder of Condo Vultures.
“Interestingly enough, the frequency of condo transactions at prices
greater than $2,000 per square foot has been on the rise since 2009.”
There have been at least five condo units sold this year above the
$2,000-per-square-foot level. — Alexander