Ellen Reyes

One October afternoon in downtown Miami, I met up for a Sunday drive with Peter Zalewski, a condo-slinger whose company, Condo Vultures, has been feeding on the remains of Miami’s real estate implosion. “This is the pit,” he said. “New York City, Chicago—they have their trading pits. This is our pit, this is where we get to trade. I’m buying or I’m selling, that’s all it is. You want to trade pork bellies, go to Chicago. You want to trade Fortune 500 stocks, go to New York. You want to trade real estate, come to Miami.” He sucked on his cigarette. “I mean, what’s the difference between a condo and a pork belly?” he asked, then shrugged. “Not that much.”