Diversity of Oceanfront Living: Look at 5000 Square Foot Condos

There is a unique market along the coast for ultra large Oceanfront Condos.  I am using 5000 square feet or larger as the designator for this category. If you were looking for an oceanfront condo of this size from Miami to Palm Beach you would find 59 properties to look at.

The largest oceanfront condo is situated in a great location in Fort Lauderdale at the Coconut Grove.  Coconut grove was constructed in 2008 and this unit has never been lived in.  This penthouse is over 11,000 square feet. It was listed on the market in 2009 for $12,000,000. Listing price today $7,995,000 and motivated.

The most expensive oceanfront condo is listed for $30,000,00 and is 7,600 sq.ft.  It is in Fisher Island.  It is offered completely turnkey with an extensive collection of artwork,  fine furniture and state of the art electronic detailing all done in old world elegance.

If Miami Beach is more your style, there is a 6200 squarefoot penthouse at the Setai.  Spectacularly finished with breathtaking views from the 40th floor. Asking Price $27 million.

On the other end of the price spectrum,  there are a few 5000 sq.ft. oceanfront condos listed under $2 million. An interesting unit  is an eclectically finished residence at Point of Americas in Fort Lauderdale, built in 1972. Over 5800 square feet with direct views of the non stop boat activity in the inlet, including the major ships coming in and out of Port Everglades.

So do these huge properties sell?   In November of this year a 5200 sq.ft. unit at Bal Harbour Tower sold for $2.2million and in November of this year a 5700 square foot penthouse at the Acqualina in Sunny Isles  sold for $4,800,000.  There is a unit under contract at the Diplomat Residences in Hollywood,  professionally decorated on the 26th floor. Asking price $2,999,000.

The inventory of South Florida oceanfront condominiums is very diverse. Looking at condominiums with any specific criteria we see grand old buildings built in the 70′s to the newest state of the art condominiums, from small 2 bedroom units to ultra large open spaces and in all prices.  That is the South Florida Oceanfront Condominium profile.  All of the above.

Coconut Grove Fort Lauderdale Condo Auction Cancelled

The Developer for Coconut Grove Residences just released a statement that the auction scheduled for this Sunday has been cancelled.  They are stating they had over 100 registered bidders primarily from out of state or international.  But due to the snow storms  the ability of buyers to get to South Florida became a problem.  The units listed for the auction are still available for sale.

The saga of unsold units at Coconut Grove continues……

Coconut Grove Fort Lauderdale-Remaining Units to be Auctioned

Coconut Grove consists of a total of only 65 units and is situated on one of the best beaches in Fort Lauderdale. Although Coconut Grove is in a great location in Fort Lauderdale, 21 units remain unsold.  Beyond blaming the economy, for sluggish sales many of the floor plans are quite unusual not making sense for many buyers.   Well the developer is auctioning off the remaining unsold 21 units.  Prices range from $177 sq.ft. $ 327 sq. ft.  If you are interested contact me for registration details and floor plans.

Coconut Grove Fort Lauderdale- Big Price Reductions !

The Coconut Grove on Fort Lauderdale Beach is a 14 story deluxe oceanfront condo with only 64  residences.  Due to zoning and development restrictions, Coconut Grove may be the last new condominium built directly on the sand in southeast Fort Lauderdale.   The property sits on 230 feet of beautiful beachfront.

The Economic downturn and South Florida real estate market hurt most new construction projects. Through it all,  many developers stuck to their prices, and did not adjust to current market demands.  Until Now.

Coconut Grove recently reduced their prices dramatically.  Previously the units were priced from around $868 square foot to over $1200 square foot.  Coconut Grove’s recent price reductions offer units priced from $312 a square foot to $645 square foot !!!  How’s that for price reductions !!! Furthermore it has been reported, that now the building has approximately 50% closed units.

The condos offer floor to ceiling windows, Smart building technology, steel and glass balconies and fine kitchen and bath finishings.

The views from some of the units are spectacular.  The proximity to the Port offers great ocean views of cruise ships and freighters coming in and out of South Florida.  Even the west views are open and interesting.

 

South East View

North East View

A finished kitchen.  

A northeast spacious unit

 

Interesting West Views