The Real Deal Miami

97% of new PB condos from boom era have sold

January 02, 2014 03:00PM


South Tower CityPlace in West Palm Beach

There were 115 new condominiums built in Palm Beach and Downtown Western Palm Beach during the boom that have yet to sell, as of the end of September.

This equates to 3 percent of available developer inventory from the boom, which started in 2003. The rest has sold, according to Condo Vultures data. The sale of more than 3,310 condominium units in Downtown West Palm Beach between 2003 and late September totals $1.27 billion.

“As the Downtown West Palm Beach market moves closer to a sellout of the new condos from the last cycle, developers are coming forward with plans to build at least 11 new condo towers in the area,” Condo Vultures’ Peter Zalewski told the Palm Beach Post. [Palm Beach Post]Mark Maurer