Downtown Miami Condo Sells for 40% Less Than 2006 Price

Eye On Miami reports:

This condo is a case in point: It sold for about 40% of its previous sales price. The building is called the “Loft Downtown” and it is located at 234 NE 3 Street. The unit shows ownership by Deutsche Bank National Trust Co. Trs. The condo is on the 3rd Floor and it is a 1/1 with 784 square feet. It previously sold for $248,000 in 2006. It sold recently for $97,900. The owner listed in the sale is: GSAMP Trust 2006-Nc2 (Deutsche is on the Property Appraiser Website).

No word yet from The National Association of Realtors on this one.