Caribbean Condos South Beach Bulk Deal Selling Out Fast

Caribbean Condos South Beach The Real Estate Channel reported this week that the Caribbean Tower South Beach bulk sale (August 2009) is showing great returns for the investor that took on the risk. The bulk buyer, 3737 Caribbean Group LLC, has sold a combination of 35 units in the 107 unit complex consisting of two towers both the new 19 story tower and the original 35 unit Art Deco Caribbean. The bulk sale was reported to be between $50-55M averaging $323-355 psf for each unit which are now selling from $550-650 psf many of which are under contract today. Prior to this new positioning on price the units were asking around $865 psf so for South Beach real estate, there is a solid demand at these new values.

South Beach luxury condos – Last 90 day comp sales report Caribbean Stat Report

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