MIAMI, FL -- Some 10 months after seizing control of the luxury South Of Fifth condo project through foreclosure, the new owner of the Miami Beach development has changed the name, retrofitted the floor plans, and introduced a revised pricing schedule starting below $1,400 per square foot, according to a new report from CondoVultures.com.
As the winter tourism season nears, the newly renamed Ocean House is preparing to launch condo sales on 26 residential units in the multibuilding complex on the beach side of Ocean Drive in the trendy South Beach neighborhood, according to the report based on the Condo Vultures® Official Condo Buyers Guide To South Beach™.
Developed in 2009, the Ocean House condo project is located steps from the popular Nikki Beach Miami lounge, Prime One Twelve steak house (bottom left photo), and the Hilton Bentley South Beach Hotel.
CondoVultures.com is scheduled to profile new unit sales by project in the third quarter of 2011 in the seven largest coastal condo markets in the tricounty South Florida region of Miami-Dade, Broward, and Palm Beach counties.
Since the week of Oct. 20, the Condo Vultures® Market Intelligence Report™ has been publishing a seven-part weekly series analyzing new condo sales trends in Greater Downtown Miami, South Beach, Sunny Isles Beach, Hollywood / Hallandale Beach, Downtown Fort Lauderdale and the Beach, Boca Raton / Deerfield Beach, and Downtown West Palm Beach and Palm Beach Island.
Peter Zalewski of Condo Vultures® can be reached at 800-750-0517 or by email at peter@condovultures.com.
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