Pricey Foreclosures Wash Up on the Beach

Yours for a song 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...

By Frank Houston

August 1, 2007

[
        {
          "name": "Air - MediumRectangle - Inline Content - Mobile Display Size",
          "component": "19274298",
          "insertPoint": "2",
          "requiredCountToDisplay": "2"
        },{
          "name": "Editor Picks",
          "component": "17482312",
          "insertPoint": "4",
          "requiredCountToDisplay": "1"
        },{
          "name": "Inline Links",
          "component": "18711090",
          "insertPoint": "8th",
          "startingPoint": 8,
          "requiredCountToDisplay": "7",
          "maxInsertions": 25
        },{
          "name": "Air - MediumRectangle - Combo - Inline Content",
          "component": "17482310",
          "insertPoint": "8th",
          "startingPoint": 8,
          "requiredCountToDisplay": "7",
          "maxInsertions": 25
        },{
          "name": "Inline Links",
          "component": "18711090",
          "insertPoint": "8th",
          "startingPoint": 12,
          "requiredCountToDisplay": "11",
          "maxInsertions": 25
        },{
          "name": "Air - Leaderboard Tower - Combo - Inline Content",
          "component": "17482313",
          "insertPoint": "8th",
          "startingPoint": 12,
          "requiredCountToDisplay": "11",
          "maxInsertions": 25
        }
      ]

Yours for a song

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

Become A Member

BEFORE YOU GO...
Can you help us continue to share our stories? Since the beginning, Miami New Times has been defined as the free, independent voice of Miami — and we'd like to keep it that way. Our members allow us to continue offering readers access to our incisive coverage of local news, food, and culture with no paywalls.