Miami Beach Property

Miami Beach Property

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t won’t be quick or cheap, but you probably already knew that

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The key for developers looking for property along Miami Beach s crowded beachfront is to look for older buildings that can be recycled, instead of land to construct new projects.

“Any condo can be recycled in Florida,” said CraneSpotters.com s Peter Zalewski to Mansion Global.

The problem is recycling is a slow, costly process. Buying an older building means cutting deals with unit owners before any significant transformation can occur and the disparities in cost post-renovation are stark: an average unit listing price is about $770 per square foot for an older unit, while a new unit will list for up to $3,000.

But, even if you build, will buyers come? It s a real question in Miami Beach s saturated market where, since 2011, more than 40 renovations projects either stall上海夜网论坛

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Tags: Development, Real Estate Finance, South Florida Real Estate
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