2 South Beach Loft Foreclosures on Meridian Avenue

January 22, 2008

Within the past week, I’ve come across two great bank-owned lofts on Meridian Avenue in South Beach. The first is located at 1700 Meridian Avenue in a development called Montclair Lofts. It is a bi-level 3 bedroom/3 bath loft with 2,300 square feet. The unit looks to be in great condition judging by the pictures that accompany the MLS listing. The bank is asking $749,900, or about $326 per square foot. According to public records, the judgment amount on this foreclosure was $1,050,855.

The second foreclosed loft is located at 2001 Meridian Avenue in a building called Meridian Lofts. It is a 1 bedroom/1 bath loft with 1,046 square feet of interior space. This loft also appears to be in great shape judging by the pictures accompanying the MLS listing. The bank is asking $391,900, or about $375 per square foot.

Both developments were built in 2005 and are within walking distance of world-famous Lincoln Road. I think both of these lofts represent good deals, even in this market.