MIAMI BEACH, FL /PRNewswire/ -- The Residences at W South Beach (top left photo) reports a total of $250 million in sales to date. This noteworthy milestone for the project follows a series of 40 closings between May and September 2011 with prices averaging over $1600-per-square-foot.
The 408-unit oceanfront condo-hotel has consistently maintained its premium price point since the inception of sales in 2006, just prior to the market crash that caused the South Florida real estate bubble to burst and a high percentage of projects to halt efforts.
Pricing at W South Beach continues to far exceed that of its neighbors, with many of surrounding properties selling at over $1000-per-square-foot.
"I am thrilled with the sales results we are seeing at W South Beach," said David Edelstein (lower right photo), the property's co-owner and developer.
"We launched this project before the market crashed, worked our way through the worst economic downturn in our lifetime, and have come through it with sustained and well-above average pricing. At the end of the day, we are delivering a truly exceptional product in a remarkable location."
For a complete copy of the company’s news release, please contact:
Web Site: http://www.wsouthbeachresidences.com
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