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Economy

Ghost town atmosphere for new Miami condo residents

James H. Burnett III - The Miami Herald

June 22, 2009 03:20 PM

MIAMI — Joshua Hamann jokingly compares himself to the last human in a city overrun by zombies. He's not suggesting his neighbors are zombies. The problem is, he has no neighbors.

Hamann dwells in a newly opened condo. And in the six weeks since moving into the gleaming new Everglades on the Bay in downtown Miami, he has felt pretty lonely. Hamann occupies one of only about 50 sold condos in his 49-story tower, out of 409 units.

A couple miles north at Midtown Miami, Alisha Marks knows the same feeling. ''It was pretty much a ghost town when I got here,'' she says.

It's an odd time for South Florida's condo market. Over development compounded by the credit crunch and a sluggish economy created an abundance of condo units.

So, what is life like for the few residents whose lights are on?

''Weird,'' says Hamann, a 28-year-old project manager for a window shading company, who rents the $400,000 one-bedroom, one-bath unit on the fifth floor.

To read the complete article, visit www.miamiherald.com.

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