Kevin Grossfeld quoted in MFE article regarding the comeback of the Miami condo market

Kevin Grossfeld quoted in MFE article regarding the comeback of the Miami condo market
December 10, 2014

Miami Partner Kevin Grossfeld contributed to the Multifamily Executive article, “Condo Comeback?”, published in 2014. The article discusses the significant increase of condo sales during the past three years. The Miami land market is growing. In 2011, 16 units sold at an average price of $721 per square foot. By 2012, momentum had tripled, with 49 units moving at $755 a square foot. As 2013 unfolded and the larger units were brought to market, 27 more sales came in, at $841 a square foot. Mr. Grossfeld states, “Lending is a lot different [today]; the down payment is a lot different. The amount of equity is a lot different. It’s a lot tougher now than it was back then, so buyers are more committed.”