Turnberry Ocean Colony, Acqualina and One Bal Harbour Market Profile

posted by Susan Reiter on October 8, 2008

Turnberry Ocean Colony North, Turnberry Ocean Colony South,  Acqualina and One Bal Harbour are luxury oceanfront condomimiums in Sunny Isles and Bal Harbour.  All three properties are relatively new.  Following our previous post, we wanted to provide our readers with a market profile for select buildings in the Sunny Isles Bal Harbour area. 

Certain markers of interest, Acqualina has the lowest percentage of units on the market, only 12%. One Bal Harbour had the lowest priced sale at $1.2 million as well as the lowest price per square foot sale of $601 per square foot.  Turnberry Ocean Colony has had 11 closed reported closed sales in the last 6 months One Bal Harbour had 22 closed sales.  When One Bal Harbour units closed there were many investors that put it right back on the market.  

Closed sale data is based on information from the last 6 months.    

South Florida newer condominiums have been averaging around 20% of the building on the market for the past year.  That number hasn’t increased in fact, as I mentioned in a previous post, inventory numbers appear to be on the decline.  

Several large scale investors such as Jorge Perez and others are stepping in to take advantage of current market conditions and attractive prices.  Real estate will have its ups and downs but unlike other investment instruments it is real property !

 

 

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Categories: Acqualina, Buying Real Estate, Condo Statistics, One Bal Harbour, Turnberry Ocean Colony

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

Are There Oceanfront Condo Deals in Sunny Isles? Look at the Statistics.

posted by Susan Reiter on March 2, 2008

Sunny Isles Buildings

Buyers are searching for good buys. Are they out there? Yes, but each opportunity is individually based on the motivation and circumstances of the seller and the uniqueness of the condo. This is reflected in the statistical chart below.

I have selected four fine buildings in Sunny Isles to include in a statistical look at prices sold versus price offered. The following buildings are included in the data below Acqualina , Oceans One,Two and Three , Trump Palace and , Turnberry Ocean Colony.

This clearly shows that yes, there are buying opportunities but not everywhere. Exceptional buying opportunities needs to be sought out.

Sunny Isles-Aqualina, Oceans, Trump Palace and Turnberry Ocean Colony

For readers that are not familiar with Sunny Isles, it is located on a barrier island in Northeast Miami-Dade County, is known as the “City of Sun and Sea.” It’s boundaries include the Atlantic Ocean on the east and the Intracoastal Waterway on the west. Golden Beach is placed north of Sunny Isles while Bal Harbour lies to the south. Two and a half miles of fine, sandy beaches holds Sunny Isles together and attracts nearly one million vacationers each year. Currently the city is undergoing a major redevelopment replacing the outdated motels with luxury residential oceanfront development.

Prices for oceanfront condos in new buildings range quite a bit but in the last few months are averaging around $580 sq.ft. The most expensive condo on the market today is at the Aqualina. It is a 6,360 sq.ft. penthouse with 4 bedrooms, 6.5 bathrooms, a family room, den, staff room, guest suite & pool. Over 2,700 sq. ft. of balcony space and 360-degree views. It is being offered at $5,975,000. That is $939 per square foot.

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Categories: Acqualina, Buying Real Estate, Condo Statistics, Deals, Miami Oceanfront Condos, Pre-Construction-Luxury Oceanfront Condos

Acqualina-Luxury New Oceanfront Condo Sunny Isles

posted by Susan Reiter on September 15, 2007

Here is another opportunity to buy a post construction  luxury oceanfront condominium.

The Acqualina at 17875 Collins Ave in Sunny Isles is a luxury 51 story condominium. The amenities in this building include a 5 star resort managed by the prestigious Rosewood Hotel andResort Group,  wonderful restaurants including the infamous Il  Mulino from New York, valet and full concierge service . There is a 20,000 sq.ft. spa,  3 pools and complete beach service.

Recently finished there are currently 37  units on the market. The units available are 2, 3, 4, and 5 bedroom units. The smallest square footage is 2030 and the largest is over 6000 sq.ft.  As I have written before, in the newly completed buildings such as the Acqualina there are investors that purchased with the idea to sell  upon completion for a profit.  As the market has changed, they went ahead and closed on the unit but now with 37 residences competing, the deals are out there for the savy buyer.

There have been a reported 39 sales since completion .  Opportunities to purchase in this first class building include decorator ready units, waiting for your finishing touches such as your flooring and crown molding as well as completely finished out units complete with window treatments. 

The creme-de-la-creme residence is  6360 sq.ft. on the 45th floor with 5 bedrooms and 6 1/2 baths as well as 2700 sq. ft. in balconies.  This unit has 360 degree views and its own private pool.

Click here to see the PH4501.  Asking price $6,850,000

acquilina.jpg

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Categories: Acqualina, Best of the Best Oceanfront Condos, Deals, Miami Oceanfront Condos
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