Thursday, March 22, 2012
Latin American buyers quickly take units in Related’s latest condo
Less than two weeks after announcing plans for another new condominium tower in Brickell and launching a sales effort in Argentina, Related Group has already obtained reservations for 60 of the 382 units in the building, GlobeSt.com reported.
As with its other projects under development, including MyBrickell, Related is requiring buyers to put down payments on units before the building is erected to help finance construction. For this 42-story condo project, called the 1100 Millecento Residences and located at 1100 South Miami Avenue, buyers put down 50 percent.
Unsurprisingly, most of the units are being snapped up by foreign buyers.