Report: 70% Of New Downtown Miami Condo Units Have Closed

Developers in Greater Downtown Miami have closed 70 percent of the 17,299 new condominium units built since 2003, according to a new report from Condo Vultures® LLC.

The average sales price for the 12,169 recorded closings in Greater Downtown Miami is $405,966.05 per unit for a total of $4.9 billion through Sept. 30, according to the report entitled the “Official Condo Buyers Guide To Miami.”

“Our research and intelligence gathering shows that quality condo projects with functional floor plans, desirable locations, and attractive pricing are closing at a surprisingly high rate,” said Peter Zalewski, a principal with the Bal Harbour, Fla.-based consultancy that produ

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