Uber-Luxe Condos in South Beach Now Flirting With $3000 a Square Foot Pricing ...
According to a new report from Peter Zalewski, principal of Bal Harbour-based Condo Vultures, as buyer are now coming to grips with the potential of paying $2,000 per square foot for ultra-luxury condos in the tricounty South Florida region, a small contingent of sellers is now attempting to raise the pricing threshold to more than $3,000 per square foot for the most "fabulous of fabulous" highend condo units.Bal Harbour Condos - News
When it comes to condo financing, new policies may help condo shoppers seeking financing from the popular FHA program , said Grant Stern, president of Bal Harbour-based Morningside Mortgage and a real estate financing specialist.
According to a new report from Peter Zalewski, principal of Bal Harbour-based Condo Vultures, as buyer are now coming to grips with the potential of paying $2000 per square foot for ultra-luxury condos in the tricounty South Florida region,
The minimum bid, which was set at $50 million, likely kept outside investors at bay, said Peter Zalewski, principal at Bal Harbour-based consultancy Condo Vultures. “At that price, you're talking about $402 a [square] foot,” he said.
A third tower, which was not taken over by lenders, has sold 518 of its 520 units, according to data provided by Bal Harbour-based consultancy Condo Vultures. Fortune International Realty, the marketing muscle brought on by Icon's lenders to sell
Peter Zalewski, a principal with Bal Harbour-based Condo Vultures, said two factors are driving the decline: foreign buyers' continued interest in the South Florida inventory and bank restraint in releasing their inventory as they continue dealing with
Uber-Luxe Condos in South Beach Now Flirting With $3000 a Square ...
According to a new report from Peter Zalewski, principal of Bal Harbour-based Condo Vultures, as buyer are now coming to grips with the potential of paying $2,000 per square foot for ultra-luxury condos in the tricounty South Florida region, a small contingent of sellers is now attempting to raise the pricing threshold to more than $3,000 per square foot for the most "fabulous of fabulous" highend condo units.
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