Strategies of the Condo Vultures®

A Pennsylvania businessman has paid $165 per square foot - at least $15 per foot below the construction replacement cost - for 26 units in the new but struggling Edge condominium in West Palm Beach, according to the Palm Beach Post.The highest closing price in the tower was $475 per square foot i...

An all-cash, bulk buyer that paid $36 million for nearly 150 units in a new Downtown Miami condominium tower last summer has just secured a $21 million mortgage on the remaining high-rise residences that haven't been resold, according to the Wall Street Journal.An opportunity fund established by ...

The lender of the Whitney condominium in West Palm Beach has taken back the remaining unsold units in the recently constructed nine-story residential tower, according to the South Florida Business Journal.New York-based iStar Financial has taken back 140 unsold units from the Miami developer Ever...

Sales of South Florida condominium units and single-family houses jumped on a year-over-year basis by nearly 17 percent in the month of November as buyers picked off bank-owned properties, foreclosures, and deeply discounted residences.Buyers closed on 1,623 condos and houses in Miami-Dade and Br...

Single-family houses in coastal South Florida have dropped more in asking price than condominiums and townhouses through the first 11 months of the year, according to the new Vultures DatabaseTM Report for November from Condo Vultures® LLC.Single-family houses in Miami-Dade, Broward, and Palm Bea...

The developers of the proposed Ritz-Carlton Club condominium resort and timeshare in Miami Beach's South Beach neighborhood have cancelled the three-tower luxury oceanfront project, blaming the decision on a lack of available financing, according to the Miami Herald.A Miami-based entity called 29...

Concerns are rising about whether a $190 million land deal for 10 acres in Greater Downtown Miami near the Adrienne Arsht Center For The Performing Arts will close before the end of the year contract deadline.The Terra Group, the Miami condo developer that built the nearby Quantum on the Bay and ...

For the second week in a row, the number of available residential properties in South Florida has dropped by several hundred units as the number of new pending sales has increased by a smaller amount, according to a new report by Condo Vultures® LLC.The number of condos, townhouses, and single-fa...

The developer of the newly delivered 384-unit Trump Royale oceanfront condo in Sunny Isles Beach, Fla., has established a leasing program where individuals can rent to own a new luxury unit for a fraction of the carrying costs."Rent with an option to buy and apply your rental towards your purchas...

Construction lender Wachovia Bank has filed a foreclosure lawsuit on the remaining 285 units in the new 42-story Wind by Neo condominium tower in Greater Downtown Miami, according to Miami-Dade County records.The suit names as defendants the condo tower's developer, Neo Epoch 2 and its members Li...