The Real Deal Miami

As foreigners drive condo market, one developer looks to Floridian buyers

August 06, 2012 03:48PM

From left: Lon Tabatchnick, 200 East and Positano Beach

Foreign buyers have largely been the saviors of South Florida’s luxury real estate market, but Lon Tabatchnick, the developer of Boca Raton’s 200 East and Hollywood’s Positano Beach, is looking for domestic buyers to fill his units, the Sun Sentinel reported. Condominiums at the two properties start at $675,000 and run well into the millions, but there is now an influx of wealthy suburban South Floridians who are looking for more urban lifestyles. These buyers want proximity to high-end retail, upscale dining and large units. “The buyer we’re going after needs size,” Tabatchnick said. “They can’t downsize from a 4,000-square-foot house to a 1,200-square-foot, two-bedroom condo. They have too much stuff.” [Sun Sentinel] – Christopher Cameron