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Non-Tech : Investing in Real Estate - Creative Opportunities -- Ignore unavailable to you. Want to Upgrade?

To: John Vosilla who wrote (2352)	7/23/2014 11:27:22 AM
From: Riskmgmt	Read Replies (1) \| Respond to of 2722

Miami bounced back now its catching fire. finance.yahoo.com snips MIAMI—At the height of the real-estate boom in 2006, Ugo Colombo, an Italian-born developer, bought a stake in an empty plot of land along the Miami River, facing Biscayne Bay, in a deal that valued the site at roughly $25 million. Last week, Mr. Colombo and his partners sold the same piece of land, now one of the last undeveloped waterfront parcels in downtown Miami, to an Argentine grocery-store magnate for $125 million Prices for condos built during the 2003-to-2008 boom have increased about 75% over the past two years, to $400 a square foot from $230, the study found. Units currently under construction typically cost $450 to $550 a square foot. And those in projects that haven't yet broken ground are averaging $550 to $675 a square foot. Brokers estimate that condos on the Epic site could fetch as high as $1,000 a square foot.