Are you looking to purchase some prime Miami Beach real estate? Well if you thought you couldn’t afford it then this could be your year. There are currently nine properties that are valued at a million dollars or more that have gone into foreclosure in the Miami Beach since the beginning of the year (2007).
According to one research company, there is a 10,500 square foot vacant waterfront lot on Hibiscus Island valued at $3 million dollars. Plus, there are several condos in foreclosure that haven’t even been completed, which include one at Aqua at Allison Island for $2.6 million. To add to that there are at least 50 other Miami Beach properties in foreclosure that are valued at $500,000 or more.
In Sunny Isles Beach, the highest foreclosure zip code in Florida, Donald Trump’s buildings also made the pricey foreclosures list: a unit in Trump Palace for $876,000 and two more units in the Trump International Sonesta Beach Resort valued at $300,000 and $488,000.
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