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The Real Deal Miami

Mondrian near $100M in sales

October 27, 2011 10:23AM

The Mondrian South Beach condominium-hotel is close to $100 million in
sales after three third-quarter transactions, according to a report from
Condo Vultures. Total developer sales at the project are now at more
than $97 million, following the purchase of 5,200 square feet at some point between
July and September. The 335-unit project, which is located on the
Biscayne Bay side of West Avenue in South Beach, has now sold more than
45 percent of its units, with an average price of $900 per square foot.
The South Beach neighborhood has now sold 79 percent of those condo
units built after 2003. — Alexander