Condo Conversion – West Palm Beach, FL – IN FORECLOSURE - The property has 176 units in total, 85 of which closed. This leaves an available inventory of 91 units. Of the 95 units, there are 14 one BR units, 48 two BR/1 BA units and 29 two BR/2 BA units. Total sq ft is 133,936 and available sq ft is 74,498. The occupancy rate is currently 42% (38 occupied, 53 available), though the receiver is actively renting units at this time. Rents average $825 for 1/1 ($1.30 a sq ft), $900 for the 2/1 units ($1.08 a sq ft) and $975 for the 2/2 units ($1.10 per sq ft). Units range in size from 632 sq ft to 890 sq ft. Bank loan is currently in excess of $8MM.