Areas hit hardest by the real estate bust are now seeing the highest gains

By the time it broke ground in March, Residences by Armani/Casa, a new condominium underway in Miami’s Sunny Isles Beach, already had more than 65 percent of its 308 units under contract.

The planned 56-story tower, where prices range from about $2 million to more than $15 million, will include more than 35,000 square feet of amenities, including a restaurant, cigar room and a two-story spa. The sale of the Giorgio Armani-furnished penthouse, which will not be complete until next year, comes with a trip to Italy to meet Armani himself.

The glossy new project sits on a stretch of Florida oceanfront where at least six other luxury buildings are in some stage of development amid a vigorous building boom in Sunny Isles Real Estate and South Florida not seen in more than a decade.

Read more: https://www.washingtonpost.com/realestate/2016/08/17/66bf7d86-536d-11e6-88eb-7dda4e2f2aec_story.html