A condo apartment in the Blue Diamond development on Miami Beach sold for $2.248 million last year. And it was a short-sale!
The deal was one of 21 short-sales in luxury South Florida properties that topped the million dollar mark, according to CondoVultures, a consulting firm based in Bal Harbour.
Other big-buck short-sales were notched in the Murano Grande on Miami Beach, $1.62 million; the Pinnacle in Sunny Isles Beach, $1.6 million, and Il Villaggio on Miami Beach, $1.46 million. On a square-foot basis, the Il Villaggio short-sale was the largest at $941 per foot.
Meanwhile, CondoVultures reports that more than 11,350 apartments and townhouses changed hands last year as short-sales in the tri-county South Florida region, which includes Miami-Dade, Broward and Palm Beach Counties. That's a 12% increase from 2010, when 10,100 units were sold for less than what was owed on them.
