It was a long summer for those who sell Miami real estate. Among those who lost their chance to take a summer vacation in Saint-Tropez, was mining-developer Gil Deser, because he had too many projects in the works. Both the Trump-Royal condominium and Trump Towers needed his immediate attention at the time. Apparently, he was not mistaken, because he sold the units in these buildings, which accounted for more than $ 100 million in sales in June, July and August. Half of these sales, $ 50 million, appeared only in the month of August. A total of Dezer managed to sell the Trump condo in the amount of 1 billion dollars.
The price for each Sunny Isles Beach condo has reached $ 525 per square foot recently. In 2009, when buyers decided to leave their contracts on the table, the price was $ 1,000 per square foot. Now, when sales start to climb again, the price is much lower. Despite this, Deser is satisfied with the price after he has fully paid his construction loans for all of his four properties. Adding to the difference from the absence of these loans is that Donald Trump joined the celebration in January, personally burning the mortgage documents of the buildings. It was difficult to continue at a time when real estate was losing value, but the fact that Deser was on the winning side made him worth what he had to pay.
Another building, Icon Brickell, is another winner in the area. This building hippo contains 1,800 condominium units, and it turned out to be too big for builders from a related group to continue selling. In May 2010, developers had to return two of the towers to borrowers. It was then, but now it is a completely different story. A total of 1,500 such apartments were sold in Miami, which resulted in sales of $ 700 million. Because of the contracts that were recently signed, it can be said that only 30 condominium houses remain in this building.
Jorge Perez, chairman and chief executive officer of the Associated Group, said that everyone was pretty surprised by the speed that they were able to sell the units. He also notes that the majority of buyers were from outside the country. The leader seems to be a Latin American buyer, because the economy of Latin American countries has recently been so positive.
The president of Fortune International Realty, Edgardo Defortuna, believed that he would sell the condominium houses in Icon for a three-year period for $ 350 per square foot. It took him half the time to sell most of the houses in this property on South Beach for $ 400 per square foot.
The trend was so encouraging that Perez began building even more southerly beach villas. Despite the fact that the new building is at a distance of several years from completion, it has already accepted more than 60 reservations before the relevant group may even begin to officially sell units. These condominium houses in a building called MyBrickell are priced at $ 300 per square foot. They were given this price because, because the Midtown Miami condominium means that the building is not located on the beach. In addition, it did not cost so much the cost of building a building.
Another previously destroyed building, Paramount Bay is currently selling its home. Once in foreclosure, this building has as a designer the design firm Kravitz Design, a firm owned by musician Lenny Kravitz.
