NORTH HUTCHINSON ISLAND, FL-In a move to sell the remaining 103units in its 144-unit condo towers, Oceanique has cut its askingprice a whopping 43%. CondoVultures reports prices have dropped tobelow $200 per square foot on some unsold developer units in theSt. Lucie County luxury complex.

Located in Florida’s Treasure cost just south of Vero Beach,Oceanique sold units for an average of $336 per square foot whenthe complex came online in 2007. Oceanique Development Co., withprincipals Maurice, Michael and Robert Kodski, have sold a mere 41units at an average asking price of $277 per square foot to date.Oceanique did not return calls seeking comment.

“The developer was trying to stand firm,” Peter Zalewski, aprincipal with the Bal Harbour, Fla.-based real estate consultancyCondo Vultures, tells GlobeSt.com. “The good thing is they havevery little debt at Oceanique. They realized it’s not worth it togo after pie in the sky pricing and now they are trying to offloadthese units with aggressive pricing.”