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Although Los Angeles is the capital of the solid gold condo, it is by no means unique in the U.S. Around Miami, at least 4,000 luxury units are under construction; most are sold out. One of the most lavish habitats, Grove Isle at Coconut Grove, Fla., has a garden graced with sculpture by Alexander Calder and Louise Nevelson. Condo owners at the Turnberry Isle Yacht and Racquet Club in North Miami Beach have access to two Robert Trent Jones golf courses, 24 tennis courts, a marina, health spa and disco.
The ultimate Xanadu may well be the Trump Tower, now abuilding on Fifth Avenue in midtown Manhattan. The top 40 floors of the 68-story building will be given over to condos, some of which will come with private swimming pools. The triplex penthouse apartment will be priced at $24 million. "They're in demand," says Developer Donald Trump. A slight understatement. The 263 apartments in Trump Tower will not be completed until January 1983, but there are already 17,000 applicants from all over the world.
—By J.D. Reed. Reported by Joseph Pilcher/Los Angeles