MIAMI—The Astor Companies just released 59 units at its Nordica Condominium. Developed in 2007 at the height of the Miami real estate boom, Astor retained ownership of the units with the turnaround in mind.

In the wake of a $300,000 renovation to the property's units and common areas, Astor is putting the 59 condo units back on the market. It's a strategic move considering the strength of Miami's real estate market—a market in which luxury properties are once again selling at a premium.

“With high demand for luxury units in the Miami urban core and adjacent areas, buyers will see the value in purchasing an existing top notch product in a great building without having to wait for construction to be completed,” says Peter Torres, vice president of Astor. Again, Astor's move is strategic—and so is the timing.