yes the condo glut is being absorbed. In the first quarter of 2010 over 72% of the newly built condos during the boom had already been sold. The remaining percentage of unsold condos are concentrated in a few buildings like ICON and a few are in foreclosure and sales have been halted.
This project as it stands is for rental apartments of which are sorely needed in Miami. Of course that can be changed to condos and currently there is a office building on the site that would have to be torn down to make way for this project.
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Miami : 62 Skyscrapers over 500+ Ft.|150+ Meters | 14 Under Construction.
Last edited by bobdreamz; Jul 31, 2010 at 6:57 PM.
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