ORLANDO—Yes, bulk condo deals are still happening in Florida. A bulk sale just closed at the Visconti, a gated, 551-unit class A condominium community in the Orlando suburb of Maitland.
The bulk sale included 26 condo units. The buyer paid $2.73 million, or $105,000 per condo. The sale price is significant, considering the condos sold at more than $400,000 each at the market peak.
“There are still good opportunities for multifamily investors to buy fractured condo deals in Central Florida,” says Luke Wickham, the CBRE first vice president who represented the seller. “Prices are up from two years ago but you're still able to purchase way below replacement value.”
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