New oceanfront condo construction in Hollywood Beach offers several wonderful buildings. Â There is the Diplomat Residences, Ocean Palms, Villas of Positano, the Beach Club in Hallandale and now Trump Hollywood. I have written numerous articles about finding the best oceanfront buys along the coast in these few buildings. Â On a dollar per square foot basis for direct oceanfront views, spacious floor plans, great amenities and a nice new building these buildings are the buy.
Hollywood and Hallandale attracts buyers from all over the world looking for an oceanfront vacation home in South Florida priced well. Â It is an area that has old Florida charm mixed with luxury oceanfront condos. There are many neighborhood restaurants and there is the Hollywood Broadwalk. Â Second homes purchases in this area have remained strong throughout the economic down turn.
There is a new area that has similar characteristics to Hollywood. Â Pompano Beach is beach town mixed with old Florida charm, older condominiums and new Luxury buildings. Â Many buyers are now moving north to Pompano Beach to take advantage of several opportunities in new very well priced condominiums. Â These opportunities are a little different because they are across the street from the ocean, but they each offer spacious floor plans in new buildings with nice amenities, at todays prices.
Oceanside Pompano Beach consists of 186 condos, half facing the intracoastal and half facing east towards the ocean. Â Preciously owned and developed by WCI, the current owners set competitive pricing and they are selling fast. Â For example, Â there is an unobstructed beautiful west views on the 12th floor that is Â 1462 square feet with an asking price of $512,000. Â That works out to $350 per square foot. Â This building has outstanding amenities and the units have nice quality finishes and top of the line appliances.
Sonata Beach Club is another option of interest. Â These are large 2 bedroom plus den condos with ocean views. For example there is a mode that is 2529 square feet, asking price $855,000, $338 per square foot. Â It offers a fantastic open floor plan, huge balcony and expansive ocean views.
Another option down the street in Fort Lauderdale is the Sapphire Condominium. Â Again, it is across the street from the ocean but you can buy a 1630 square foot 2 bedroom plus study on the 8th floor with great ocean views for $619,00, $379 per sq. ft.
This season is probably one of the busiest oceanfront condo buying seasons ever in South Florida. Â At Oceanside Plaza, at this point in time there were only 6 intracoastal facing units left. Every other unit is sold. Â I was there last weekend with a client and the sales office was non stop with buyers.
Ocean Palms is a great building to analyze that represents the intense buying activity along the coast. 54 units have either sold or are pending sale in the past 6 months. Â Currently there are only 11 units for sale on the market. Â 6 months ago if I remember correctly there were probably about 50 condos for sale.
There isn’t a buyer today in whatever price point they are in that isn’t looking for a buying opportunity.Â Â Many of the buyers I speak with clearly feel this is the time to buy and are concerned about missing these great opportunities. Â Some buyers are even sorry they didn’t buy 6 months ago.