Thursday, May 5, 2011

Sunny Isles still has 1,000 unsold condos

At the end of the first quarter, Sunny Isles Beach still had 1,000 condominium units constructed after 2003 unsold, 37 percent of which were in Trump projects, according to a report from brokerage and consultancy Condo Vultures. While buyers purchased 69 units in Sunny Isles in the first quarter for a total of nearly $68 million, the transaction pace appears to have slowed. In the first quarter of 2010, there were 105 condo sales for a total of $102 million. "Sunny Isles Beach is proving to be an anomaly when compared to other Miami-Dade County condo markets with an overhang of new inventory," said Condo Vultures

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