Built in 2005, Nola Lofts in Downtown Fort Lauderdale were selling in the $500’s and $600’s.  This particular unit had been purchased in 2005 from the developer for $600,000 then flipped in 2006 for $670,300.  The unit just closed on March 31, 2009 at $223,125 in an auction.  The property was owned by Suntrust Bank, who foreclosed back in June 2008 after the owner had been unable to pay the mortgage.

Nola Lofts is a beautiful new Urban-style building offering an incredible downtown location and many amenities and luxuries including airy 10’8″ ceilings in the “Classic Lofts” and 20′ ceilings in the Penthouses, oversized windows with hurricane impact glass, exposed ductwork, stained concrete flooring, european cabinetry in kitchens and baths, and pre-wiring for telecommunication systems.

The community offers walking/biking paths, a heated swimming pool and resident club room.

This goes to show how great of a time it is to buy right now!  When else are you going to get over a 50% discount on REAL PROPERTY!  Contact me for more information on bank-owned property and short sales in South Florida.