The inventory from South Florida’s last boom-and-bust cycle, from 2003 to 2008, is nearly gone, spurring dozens of new developer-unit condo projects. Preconstruction prices are roughly equivalent to 2004 levels, suggesting much more room for appreciation, Condo Vultures real estate consultancy principal Peter Zalewski said Tuesday.
Of the 46 towers proposed for South Florida, prices are ranging between $241 and $2,640 per square foot, according to research compiled by Condo Vultures and released at an event hosted by mckafka, the developer team planning the Crimson, a 90-unit tower in Miami’s Edgewater neighborhood. See how other projects rank on the Condo Vultures list after the jump.
Developer Ian Schrager’s The Residences at Miami Beach Edition is asking the highest price per square foot for condos at the 11-floor, 26-unit Miami Beach highrise, followed by the 10-unit, boutique Glass building designed by Rene Gonzalez and planned for a site South of Fifth and the Sir Norman Foster-designed, 19-story Faena House.
The average price per listing in the least pricy condo projects planned for South Florida is $241 at the 28-story Bay Colony in Juno Beach.
via The Real Deal Miami http://feedproxy.google.com/~r/trdnews_miami/~3/vpHMn-Oc1ck/
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