Pricey Foreclosures Wash Up on the Beach
Looking to scoop up some prime Miami Beach real estate? This could be your year. Nine properties valued at a million dollars or more have gone into foreclosure on the Beach since the beginning of 2007.
According to research compiled by Condo Vultures, these include a prime, vacant 10,500 square foot waterfront lot on Hibiscus Island ($3 million) as well as several condos that haven’t even been completed, including one at Aqua at Allison Island ($2.6 million). More than 50 Miami Beach properties in foreclosure are worth $500,000 or more.
Donald Trump’s buildings in Sunny Isles Beach, the highest foreclosure zip code in Florida, also made the pricey foreclosures list: unit 1904 in Trump Palace ($876,000) and units 902 and 1805 in the Trump International Sonesta Beach Resort ($300,000 and $488,000 respectively). --Frank Houston