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
Keep Miami New Times Free... Since we started Miami New Times, it has been defined as the free, independent voice of Miami, and we would like to keep it that way. Offering our readers free access to incisive coverage of local news, food and culture. Producing stories on everything from political scandals to the hottest new bands, with gutsy reporting, stylish writing, and staffers who've won everything from the Society of Professional Journalists' Sigma Delta Chi feature-writing award to the Casey Medal for Meritorious Journalism. But with local journalism's existence under siege and advertising revenue setbacks having a larger impact, it is important now more than ever for us to rally support behind funding our local journalism. You can help by participating in our "I Support" membership program, allowing us to keep covering Miami with no paywalls.