Video: South Beach apartments sell for record-breaking $59 million

Fifteen working-class apartment buildings in South Beach just sold for $59 million. The new landlord plans to renovate the units and raise the rent by as much as 50 percent -- that means many tenants will be forced out.
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Fifteen working-class apartment buildings in South Beach just sold for $59 million. The new landlord plans to renovate the units and raise the rent by as much as 50 percent -- that means many tenants will be forced out.

SoBe, so long: After $59 million apartment sale, locals dread rent hikes

February 08, 2016 01:30 AM