Locally based Esslinger-Wooten-Maxwell brokers have sold 83% of the property at competitive prices of $300 per sf, bringing sales to $12 million with another $18 million waiting to close.
Brokers are earning 6% commissions, a rate that has brought total commissions paid to date to $1.1 million. EWM has the exclusive listing for the property.
In a prepared statement, EWM president Ron Shuffield attributes the sales volume to both the commission structure and the unit prices of the condos from $400,000 to $3 million-plus. He calls the prices "one of the most appealing buys in Miami Beach's luxury condominium market."
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