Condo Construction in Miami Returns

by Isaac Benmergui, Esq on November 8, 2011

Miami hasn’t had plans for a new high-rise condo building since the housing bust until now. Brickell House is a $170 million project slated to open in 2014.

With 46 stories and 374 residences, the building includes one-bedroom and penthouse units. Buyers of the condos will be required to pay 70 percent of the asking price of their unit before construction on the tower is complete.

Developers of the project believe the financing model will work because most of the buyers will come from outside Miami. The units are being heavily marketed in South America. Developers of other properties are not so sure people will pay the 70 percent up front due to so many other new condo construction project that are slated to begin and a slowdown in existing condo sales.

Getting Legal Help

The law offices of Isaac Benmergui can help you with your legal real estate needs; call 780-800-2510 or email Isaac@benmerguilaw.com for more information or to set up an appointment today.

 

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