Could superstar’s condo sell for a record price?

If the owner of Miami Heat superstar Dwyane Wade’s condo can sell for $2.6 million, or $806-a-square-foot, it could be a record price for the Miami condominium.


Condo Vultures is reporting that the 3,005-square-foot penthouse in the twin-tower Vizcayne condo is appraised at $1.1 million. The owner is an entity that New York hedge fund Rockwood Capital controls.


The Vizcayne building was convenient for Wade because of its proximity to the American Airlines Arena, home of the Miami Heat. It is only a few blocks south of the arena.


If Rockwood Capital is able to achieve such a premium for Wade’s former unit, the transaction would rank as one of the highest prices gained in the 849-unit residential complex that was completed in 2008.


Rockwood Capital did not build the Vizcayne – originally named Everglades on the Bay – instead it acquired 663 units out of U.S. bankruptcy court in a $142 million bulk deal in November 2010, according to Condo Vultures’ analysis of Miami-Dade County records.



Source : Oscar Pedro Musibay

Miami information