Art & Condos
Martin Margulies, luxury condo developer, secured a large loan to build his new, 24-story tower, on Williams Island in Aventura, called the Bellini, but this was not the usual construction loan. He amazingly secured a personal loan by 59 pieces of his extensive collection. He is incredible. What a guy! This is the last remaining spot on Williams island and it looks like it is going to be a Slam Dunk.
Well, most people want to know what is going on with the condo market. Cash buyers, lots of high end sales, Italians, Britons, South Americans, Chinese, Germans, France… the luxury market is on fire!!! 590 condos valued over 1 million dollars were sold in 2011. In the first few weeks of 2012, well over 100 luxury units are already under contract, in the top buildings such as the Setai, Apogee, Continuum, just to name a few condo buildings. In addition, many new buildings are popping up from Sunny Isles, South to Miami Beach and Key Biscayne.