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Lot In St. Joe's Windmark Beach Sells For $45,000. 50% Price Decrease Since 2001

|Includes: St Joe Co. (JOE)

The subject lot was sold by St. Joe for $90,000 in 2001.The lot just sold for $45,000 in June 2012. Keep in mind that 2001 is 5 years before the bubble reached its peak.

Interestingly, on page 114 of Einhorn's analysis "Field of Schemes" he reveals that St. Joe's capitalized development costs for Windmark Beach exceed $700,000 per lot.