Hotter prices are defrosting Miami’s spec market

One of South Florida’s biggest spec mansion developers publicly declared two years ago, “I’m not building any new construction.” But that was short-lived. The developer, Todd Glaser, and his partners spent $105 million to buy a Miami Beach home last year, where they are planning to build a $300 million mansion. Spec developers are back in the game, as demand for move-in-ready ultra-luxury homes skyrockets across Miami’s high-end enclaves.  “Prices for finished homes have gone up so much, it’s worth it,” said Julian Johnston, an agent with the Corcoran Group, citing per square foot prices ranging from $4,500 to over […]This article originally appeared on The Real Deal. Click here to read the full story.