MIAMI—South Florida was smack dab in the middle of Florida's high rise condo crash, but it's multifamily market is right in the middle of the revival. What are the prospects for Miami's recovery?
According to CondoVultures.com, there have been more than 200,000 foreclosure repossessions in the tricounty region of Miami-Dade, Broward, and Palm Beach since the real estate crash began in 2007. But multifamily has led and continues to lead the recovery even as the next wave of condo development begins.
Deme Mekras, a multifamily broker with Franklin Street focused in the South Florida market, told us Miami is recovering in the short-, mid, and long-term. It begins on the multifamily front.
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