Banks Offer Distressed South Beach Condos In Setai, Waverly And Decoplage Towers

  • Published by Peter Zalewski
  • 2/15/2024
  • 7:11:08 PM
Lenders have listed for sale and recently sold a number of real estate owned (REO) units in some of the most recognizable projects in Miami Beach.
We have crunched the statistics for the Year 2023 and plan on publishing a series of of reports during the next three weeks looking at the winners and losers in Miami Beach. If you want the reports emailed to you, just sign up for the Miami Condo Market Intelligence Report With Peter Zalewski™ newsletter at:


Miami Beach’s distressed condo market – shortsales and Real Estate Owned (REO) by lenders – is nothing like it was during the Great Recession years but the deals that are available or recently traded are notable for where the units are located.

Currently, the REO condos listed for sale in Miami Beach include units in the Setai Resort & Residences, Waverly at South Beach and Decoplage waterfront projects, according to the Southeast Florida MLX Matrix.

In 2023, discount buyers picked off 12 units in some well-known buildings including South Pointe Towers in the ritzy South of Fifth neighborhood, the Mondrian South Beach condo-hotel project fronting Biscayne Bay in the South Beach area and the oceanfront La Gorge Palace tower in the North Beach neighborhood, according to an analysis based on statistics from

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