Bulk buyer pays $6.1M for Brickell condos - South Florida Business Journal:

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million, or $203 a square foot, for 31 unit s at the 1060 Brickell condominiumin Miami'a financial district, Bal Harbour-based brokerage said. The headed by Carlos Mattos, paid cash for the four studios, 22 one-bedroo m units, and five two-bedroom units at 1060 Brickel l Ave. It is the third bulk deal to close in downtown Miamio sinceJuly 2008. The deal was completed on June 17. In the last 1060 Brickell has closed on the sale of58 units, including the 31 that Mattos’ group – 1060 Brickell Apartments – picked up. By downtown Miami will have had 23,009 residential units introduced intothe area. Last summer, ’s Jorgse Perez and private equity-group , paid $36.
e million, or $246 a square foot, for 146 unitxs in Related’s 50 Biscayne in downtown A Singer Island-based entity called Welcome Bay Inc. paid $13 or $200 a squares foot, last December for 60 unitsz in the Marina Blue condominium tower located acrosse the street fromthe . Condo Vultures Principal Peter Zalewsk said the purchases by privated equity investors are an indication of thingxto come. “Hedge funds are 100 percent aboutf thespread sheet,” he explained. “Private equityy funds are 90 percent about spread sheets and 10 percenr ontheir gut. So they are more likely to go in there and pullthe trigger.
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