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Condo Vultures

Condo Vultures is a market intelligence and real estate company based in Bal Harbour, Florida. Founded in 2006, it is the parent company of Condo Vultures LLC, a real estate consulting and marketing company and licensed Florida real estate brokerages, CondoVultures Realty and CVRRealty.

Concept

The concept for Condo Vultures was developed by Peter Zalewski, a former financial journalist and current Florida licensed real estate broker just prior to the most recent real estate crash in South Florida resulting from the U.S. housing bubble ^[1]. Through his sources as a banking columnist, Zalewski became aware of a flight of larger banks away from real estate holdings and saw a market opportunity unfolding for distressed real estate, particularly bulk deals of large condo towers and individual condo units in the city of Miami ^[2]. Condo Vultures Realty represents real estate buyers only, both for individual and bulk product ^[3]. CVRRealty, a “sell-side” brokerage with listings was conceived to assist those same buyers and others trade their properties as the market improves. The consulting arm of Condo Vultures LLC provides proprietary data for investors. CondoVultures.com, the publishing division of Condo Vultures LLC, is a media and marketing company that provides real estate publications for public dissemination and sponsors seminars for investors and the general public ^[4]. Condo Vultures derives its name from the buzzards that migrate to the South Florida region each year ^[5].

Advertising

Condo Vultures was a sponsor of the Florida Marlins major league baseball team in 2009.

In Mass Media

Condo Vultures has been profiled and attributed as a source in hundreds of newspaper and business magazine article throughout the world, including the New York Times, Wall Street Journal, BusinessWeek, the BBC and the Guardian UK. Its television appearances include CBS 60 Minutes and ABC News Nightline. The company was featured in Michael Moore’s documentary, Capitalism: A Love Story.