Brickell, FL

A Boca Raton company has paid $39 million for nearly 300,000 square feet of vacant land situated on nine parcels in Downtown Miami, according to a new report from the Condo Vultures® Bulk Deals Database.

The newly created PWV Group 1 Holdings LLC, with Gary N. Gerson as registered agent, paid $130 per square foot on Sept. 21 for 27 lots located a block west of four new highrise condo towers on Downtown Miami's Biscayne Boulevard, according to CondoVultures.com research.

The seller, six corporations controlled by AI Holdings (USA) Corp with Tamir Kazaz as chief financial officer, paid a combined $32.3 million, or $108 per square foot, for the land, which was acquired between August 1999 and March 2006, according to Miami-Dade County records.

The powerful Africa Israel fund controls AI Holdings (USA) Corp, according to a notarized document recorded with the deed.

"The purchase price works out to a gross premium of 21 percent for the seller minus expenses, and there have been many of them," said Peter Zalewski, a principal with the Bal Harbour, Fla.-based real estate consultancy Condo Vultures® LLC. "For the buyer, the purchase price is 8 percent less than today's assessed value of $41.6 million, or $139 per square foot, for property tax purposes."

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Peter Zalewski of Condo Vultures® can be reached at 800-750-0517 or by email at peter@condovultures.com. Don't forget to sign up for our weekly Market Intelligence Report^TM for detailed condo reports. Looking for a property at a deep discount? You are encouraged to take a peek at the Vultures Database^TM or our Video Gallery. Interested in buying multiple units from developers or banks? Be sure to visit the Condo Vultures® Bulk Deals Database. Our new books, the Official Condo Buyers Guide to Miami^TM and Miami's Great Condo Crash: A Chronicle of the Boom and Bust^TM are now available. Want to see every foreclosure filed in South Florida since 2007? Check out our Foreclosure Database^TM.

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Jade Condo in Brickell is one of the many buildings in Miami that is experiencing large price reductions in its units, which offers buyers a great opportunity to buy a wonderful condo in at a large discount.
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Carbonell Condo in Brickell is one of the many buildings in Miami that is experiencing large price reductions in its units, which offers buyers a great opportunity to buy an amazing condo in Brickell at a large
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Costa Bella Condo Brickell

About The Costa Bella on Brickell Condominium

Year Built: 1977
Number of Floors: 21
Number of units: 195
Sq. Ft. range: 900 - 2,080
Beds: 1-3
Baths: 1-3
Costa Bella Brickell Condo Amenities:
- Gated
- Concierge
- 24-hr Security
- Covered Parking
- Pool
- Gym
- Jacuzzi
- Tennis Court

Costa Bella Condo Brickell | Sale - Rent - List | Miami Condos