New condo sales fall 9 percent in Sunny Isles

The sales of new condominiums fell by 9 percent in Sunny Isles Beach in the first quarter of 2012, according to a report from Condo Vultures. Less than 65 units were sold in the first three months of this year, compared to 70 in 2011. In 2010, that number was as high as 100. “Buyers looking at the Sunny Isles Beach condo market have many factors to consider,” said Peter Zalewski, founder of Condo Vultures. “The Sunny Isles Beach condo market is changing as the amount of boom-era inventory decreases, prices for developer units increase, and a series of new luxury condo towers — five and counting — are proposed.” The 65 sales in the first quarter totaled just under $57 million. — Alexander Britell