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Miami Includes Broward and Palm Beach Counties » Development News



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Old August 19th, 2005, 06:32 AM   #1
logybogy
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$2,000 per square foot!

$2,000 per square foot is pretty damn impressive. Setai is unique in that it was built before the 200ft height limit and is right in the middle of South Beach. The upper floors will always have unobstructed views in every direction.

Quote:
The Stratosphere Is Here
Prices for Miami Beach condos are still breaking records. The recent sale of a condominium in the Setai Resort & Condominium, 101 20th St., Miami Beach reached a new high of $2,000 a square foot with a buyer from Ohio paying $2.825 million for a 1,408 square foot unit on the 31st floor. According to co-owner Rich Williams, the unit on the south east corner of the recently completed building offers amazing unobstructed ocean and city views, along with all the amenities of the prestigious Setai. Williams and Jim Nolan of Ultra Properties Inc. bought the unit preconstruction, in the first week of sales in January 2001 for $1.245million. They renovated and furnished the apartment and lived there briefly before putting it on the market via their website. The eventual buyer took the opportunity for a “test drive” of the residence by renting it for two days and loved it enough to make an offer.
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Old August 19th, 2005, 06:40 AM   #2
Roark
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That is a very impressive milestone! Wow...I'm still digesting the $1,000 per square foot number that the Setai was putting up.
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Old August 19th, 2005, 06:42 AM   #3
logybogy
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To give people some perspective, go to corcoran.com and run some searches on manhattan apartments. $2,000 per square foot is higher than almost all of the ones I looked at in both the upper east and upper west side.
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Old August 19th, 2005, 06:45 AM   #4
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Brand New Trump Construction in the Upper West Side with a river view only goes for about $1600 per square feet.

http://www.corcoran.com/property/lis...stingID=741144
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