Top 5 Miami Distressed Condo Sales Closed in September 2008

I found a total of 25 distressed condo sales that closed in the month of September in the MLS located in Brickell, Brickell Key, Downtown Miami and the Arts District.  The following are, in my opinion, the five best deals that took place.  This will hopefully give everyone a sense for where prices are for similar units in these buildings and neighborhoods.  This is not an indication of where prices may or may not ultimately settle.

1. Jade at Brickell – unit 1706 – 1 bedroom/1 bath (895 square feet) – This unit sold for $215,000, or $240 per square foot, on September 5, 2008.  Foreclosure
2. Blue Condominium – unit 3101 – 2 bedroom/2.5 bath (1,651 square feet) – This unit sold for $385,000, or $233 per square foot, on September 16, 2008.  Short-sale
3. Neo Vertika – unit 3119 – 2 bedroom + den/2 bath (1,255 square feet) – This unit sold for $225,000, or $179 per square foot, on September 5, 2008.  Foreclosure
4. Vue at Brickell – unit 2204 – 2 bedroom/2 bath (1,023 square feet) – This unit sold for $173,000, or $169 per square foot, on September 16, 2008.  Foreclosure
5. Parc Lofts – unit 208 – 1 bedroom/1 bath (1,255 square feet) – This unit sold for $220,000, or $174 per square foot, on September 9, 2008.  Foreclosure