Wednesday, May 19, 2010

Sales pick up at Miami's Canyon Ranch

Canyon Ranch Living, a luxury wellness hotel and condo development in Miami that has been heavily targeting New York City buyers, sold 49 condo units in the first quarter of the year, spurring optimism that the 1-million-square-foot property is catching on with buyers, according to Mel Zuckerman, the founder and chairman of Canyon Ranch. The complex contains 430 condo units and 150 hotel rooms, as well as a 70,000-square-foot spa. An affiliate company of Lehman Brothers Holdings took ownership of the property in November 2009 for $291 million. So far, 88 units have sold.

Source: http://therealdeal.com/miami/articles/sales-pick-up-at-wellness-residential-complex-in-miami-canyon-ranch

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