Are Oceanfront Condos in South Florida Selling?

posted by Susan Reiter on November 6, 2008

You betcha !

In the last 30 days 59 oceanfront condos went to contract in Miami.  In Fort Lauderdale (Broward County) 55 oceanfront condos sold.  Interestingly, they span the price spectrum. The most expensive unit to go to contract in the last 30 days was a 5 bedroom unit on Fisher Island that was listed for $12,900,000.  The lowest priced unit was in the hundred thousands.

Here are some specific examples of what oceanfront condos went to contract within the last 30 days.

MIAMI

Bellini- 10225 Collins Avenue-Bal Harour- A double unit over 7600 square feet.- 5 bedrooms 6 and one half baths

  • Highest Asking price $7,695,000 $1007 per square foot (this is a very unique spectacular space in Bal Harbour)
  • Asking Price Now:  $4,999,999   $654 per square foot
  • Price Reduction: 35%
  • Days on Market 197 

The Continuum South Tower- 100 S. Point Drive- Miami Beach- 1870 square feet 2 bedroom 2 bath

  • Highest Asking price $2,500,000 $1336 per square foot
  • Asking Price Now:  $1,800,000   $962 per square foot
  • Price Reduction: 28%
  • Days on Market 97
The Mosaic- 3801 Collins Avenue- Miami Beach 1507 square feet, 3 bedrooms 3 baths
  • Highest Asking price $1,300,000 $862 per square foot
  • Asking Price Now:  $900,000   $597 per square foot
  • Price Reduction: 31%
  • Days on Market 283

The Akoya- 6365 Collins Avenue- Miami Beach- 808 square feet 1 bedroom 1 bath

  • Highest Asking price $564,900 $699 per square foot
  • Asking Price Now:  $379,900   $470 per square foot
  • Price Reduction: 32%
  • Days on Market 41

FORT LAUDERDALE (Broward  County)
L’Hermitage- 3200 N. Ocean Blvd. 2,845 square feet- 3 bedrooms 3 baths.
  • Highest Asking price $2,199,000 $773 per square foot
  • Asking Price Now:  $1,799,999   $632 per square foot
  • Price Reduction: 18%
  • Days on Market 2 ( Sold in 2 days !!)
Las Olas Beach Club- 101 S. Ft. Lauderdale Beach, Fort Lauderdale- 2,372 Square Feet 3 bedroom 3 baths.
  • Highest Asking price $1,199,000$505 per square foot
  • Asking Price Now:  $906,000  $382 per square foot
  • Price Reduction: 24%
  • Days on Market 11 (sold quickly !)
The Beach Club- 1800 S. Ocean Dr.- Hallandale Beach 1,571 Square Feet- 3 bedrooms 3 baths.
  • Highest Asking price $545,000 $347 per square foot
  • Asking Price Now:  $530,000  $337 per square foot
  • Price Reduction: 3% ( Priced Aggressively)
  • Days on Market 94
So who is buying?  I think it is pretty safe to say that the buyers are strong financially.  Second home buyers are taking advantage of the opportunities out there as well as investors.   What price did they actual sell at?  It will be interesting to see.
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Categories: Akoya, Beach Club Hallandale, Bellini, Buying Real Estate, Continuum South Beach, Deals, Fort Lauderdale Oceanfront Condos, L'Hermitage, Miami Oceanfront Condos, Mosaic, Ocean Palms Hollywood

Watching the Market….Or Buying An Oceanfront Condo Now

posted by Susan Reiter on May 31, 2008

South Florida Oceanfront condo Great View

We receive a constant stream of phone calls from buyers from all over the world that are interested in purchasing oceanfront condos. There are buyers who are seizing the moment so to speak, and stepping in to take advantage of the great opportunities out there right now.

Are there opportunities? You bet there are and I have been in situations, where once we identified a great unit at a great price, other buyers were also putting offers in on the same units.

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There are varying degrees of motivation by sellers in all price ranges. There are some units in building less than 2 years old that the original developer still owns that now are very motivated to sell. There are units that are being sold by investors that are several hundred thousand dollars less than what they paid for it. Each situation is different but the opportunities are there. The units that are available under these circumstances include the most desirable oceanfront floor plans in premier buildings.

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All I can say is that if there is a desire to own an oceanfront condo in South Florida, at this point in time, you can get the best of the best at deeply discounted prices. When the media says…”We are now at the bottom and the market is going to turn around”… the best units in the A rated luxury buildings will be long gone!!!

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Categories: Acqualina, Aquazul, Beach Club Hallandale, Best of the Best Oceanfront Condos, Boca Raton Oceanfront Condos, Buying Real Estate, Canyon Ranch, Cipriani Ocean Resort and Club Residences, Continuum South Beach, Diplomat Oceanfront Residence, Europa By The Sea, Fort Lauderdale Oceanfront Condos, Icon-Las Olas, L'Ambiance, L'Hermitage, Las Olas Beach Club, Luxuria, Miami Oceanfront Condos, Ocean Palms Hollywood, One Bal Harbour, One Thousand Ocean, Palm Beach Oceanfront Condos, Porto Vita Aventura, Pre-Construction-Luxury Oceanfront Condos, Regalia, Ritz-Carlton South Beach, St. Regis Residences Ft. Lauderdale, St.Regis Bal Harbour, The Excelsior-, The Palms Tower I & II, Trump Hollywood, Turnberry Ocean Colony, Villas of Positano

L’Hermitage Oceanfront Condo-Resort Like Living In A Perfect Location

posted by Susan Reiter on September 9, 2007

L’Hermitage Fort Lauderdale Oceanfront Condo

If you want to feel like you are living  at a resort with all the amenities you could possibly want L’Hermitage might just be for you.  L’Hermitage has two towers directly on the ocean.  This great complex is ideally situated just north of Oakland Park Blvd. Built in 1998 L’Hermitage consists of a resort like complex which includes concierge, valet, tennis courts, private beach pavilion,beach attendant, BBQ area, Tiki huts and cabanas and even a pet park.

As of today(September 9/2007) there are 30 units on the market between both towers, 3200 N. Ocean Blvd. and 3100 N. Ocean Blvd.  The least expensive unit is a 2 bedroom unit on the 10th floor with an asking price of $869,900. The most expensive unit is a penthouse on the 29th floor 4 bedrooms 4 baths with an asking price of $3,999,900.  This penthouse unit of course has spectacular views of ocean, intracoastal and city.

To see more information on three units: The least expensive, the most expensive penthouse and a great  three bedroom unit click here

There were many reported closed sales this year ranging from  the lowest $925,00 to a penthouse sale for $3,200,000.  Because there are many on the market and market conditions in South Florida are tougher these days, there are opportunities to own a good amount of square footage, directly on the ocean with great amenities at an attractive price.

L’Hermitage Oceanfront Condo-Resort Like Living In A Perfect Location Map

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Categories: Best of the Best Oceanfront Condos, Fort Lauderdale Oceanfront Condos, L'Hermitage
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