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Miami Condos: Not As Cheap As You Might Think
If you are under the impression that you can get the deal of a lifetime on a condo anywhere in Miami, think again. The New York Times has a story about how the Miami condo market may be struggling, but pockets like Miami Beach and South Beach are still well beyond most people’s means.
Baseball Player Mike Piazza’s Miami Condo Courtesy of The NY Times
The article notes that even though “inventory is up [and] prices are down” in South Beach, those believing that they can get a condo for under $100,000 in this popular Miami zip code are mistaken.
From The Times:
“I get numerous phone calls from people who want to buy in Miami Beach, but they’re looking for that $58,000 condo,” said Allison Cotter, an agent with Esslinger Wooten Maxwell. “You have to say to them, ‘That’s not here; that’s over in Miami.’ ”
The article notes that South Beach remains a favorite destination for celebrities, athletes and well-off businessmen, and the condos in luxury high-rises with beach views start between $500,000 to $1 million and go up to well over $5 million.
This article originally published at https://dc.urbanturf.com/articles/blog/miami_condos_not_as_cheap_as_you_might_think/866.
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