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Competing With New Condos

South Florida
Competing With New Condos


Miamis new condo market has heated up so much that pre-construction sales now exceed condo resales for the first time in several years, according to Condo Vultures. (Everybody likes the new kid in townthat's why no one asked us to prom.) But there are some downsides: Astor Cos VP Peter Torres notes that pre-construction deals often require hefty down payments. So his firm is offering 59 newly remodeled unitsat Nordica on Coral Way (here's a roof view), which avoids those down payments and offersimmediate occupancy. There have been quite a few local buyers responding, he says, showingdomestic demand for Miami condos.

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Related Topics: Coral Way, Condo Vultures