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The Real Deal Miami

Glut of outdated Palm Beach condos

July 25, 2011 11:05AM

While condominium sales in Palm Beach have begun to see more activity,
the area south of Sloan’s Curve is still saddled with a huge number of
outdated units requiring renovation. “[Buyers] all want an ocean view,”
said Don Gorbach, a senior agent at Corcoran. “They all want to be in
the best building. They all want to be in a unit that’s been updated.
And it’s very hard to give them all three.” The majority of buildings in
the area are more than 30 years old, if not 40, and no other area of
Palm Beach’s housing market saw a greater impact from the downturn. [Palm
Beach Post]