The loan secured for the Brickell Flatiron may be an anomaly in today’s multifamily market, as The Wall Street Journal recently reported that some financial institutions are stepping back from taking on new, high-end multifamily projects, particularly rentals, amid a glut of supply.
In Miami, observers say the condo market, too, is overbuilt and should expect to see sales and prices decline. That has led some owners to put their properties up for rent, upping competition in the city’s already robust rental market, MarketWatch reported.
