Pondering the Presales Puzzle
Buying a HomeWith home buyer demand on the rise and available residential units in short supply, many developers in New York, Miami, and other cities are preselling units months or even years before new buildings are completed. In Miami, the 18-story Faena House already has half of its 47 units under contract, with buyers making 50 percent cash deposits on the $2.5 million-to-$50 million units even though concrete is still being poured at the basement level. Presales are important to developers now […]
