Miami Condo Prices
At Icon Brickell Continue To Fall
Icon Brickell in Miami
Miami condo owners, who have listed their condos for sale, have all become
acutely aware of the steep fall in value of their apartments. The over
development of many huge buildings with hundreds of apartments, and no
buyers, along with the foreclosures of thousands of other condos in Miami,
has brought the condo market to it's lowest level in memory.
The good news is that condos can be purchased at prices that would have
otherwise been unthinkable. Luxury real estate at low prices, relatively
speaking, has become the norm in Miami.
The Icon Brickell, a 3 tower complex, with 1,796 units, one of the biggest
developments in Miami in recent years, has dropped prices more than 50%
on units in the third tower. Condos in the Icon Brickell that were selling
for $680 per square foot, just a few years ago, can now be purchased for
as low as $298 per square foot of interior living area. Condos in the
other two towers have dropped about a third in value.
Related Group, the developer of the ultra luxury 3 tower project, is
counting on Latin American buyers to come in, and snatch up the multitude
of available units, at the steeply reduced prices. For those interested
in living in a great area in the heart of Miami, the Icon Brickell is
a good choice, and an opportunity to live in a building that is state
of the art.