Opportunity still Available in South Florida!

Philadelphia investor has paid $8 million for 19 units in the 562-unit Flamingo South Beach condominium tower; paying about $313 per square foot for the condos. The transaction has not yet appeared in Miami-Dade County public records. The buyer was interested in acquiring properties with income potential and has already rented out 15 of the units at around $2.25 per square foot in the complex that overlooks Biscayne Bay. Many of the renters are young professionals who work in South Beach, downtown Miami or near Jackson Memorial Hospital, “The deal made a lot of sense for them. The beautiful brand-new buildings downtown are renting aggressively, but we have been able to rent at a higher rate and still get the renters,” a spokesman said.