As reported by the Miami Herald, Dezer Properties has taken over the Related Groups stake in Trump Towers and is assuming the remaining debt on the property. Condominium prices are being cut by at least 30 percent at the newly built Trump Towers. Prices now rank below competing new oceanfront properties.
Trump Towers offer several different spacious floor plans with ocean and intracoastal views. The units are delivered “decorator ready”. The direct ocean unit is approximately 3000 sq.ft. 3 bedroom 3 1/2 baths with direct spectacular ocean views. This is a great spacious floor plan with unobstructed views. Prices are quite attractive for this type of space and location.
Tower One is pretty much sold out, Tower Two sales are underway and Tower Three, completed but sales have not begun as of yet.
Developer units are selling in Sunny Isles. There are several new projects, Trump Royale, Trump Grande, Trump Towers,Jade Ocean and Jade Beach. In the case of the Trump Buildings, prices have been adjusted to reflect current market prices and the inventories are moving. In the Trump Royale, I was working with a client last week that selected a unit and put down a deposit on it. They flew down one week later interested in looking at the 3 or 4 other units in the line that were available at that time. When they arrived one week later, all the other units in that particular line were sold out. Prices are attractive, the buildings are new equipped with all the amenities one would expect from a new building, and they are oceanfront! Inventories are moving !!!
As I have written many times, I see great opportunities in new buildings with units being offered by the developer. These days most developers are very tuned into market value and understand where prices need to be in order to move their inventory.
Oceanfront Condo inventories are moving, developer units and resale units. For the resale market in Sunny Isles, inventories have dropped dramatically… a whopping 37% from November 2008. Again, oceanfront condos in South Florida are a very unique niche and have world wide appeal. Sales performance of these unique properties are quite different than what is reflected in the overall housing market.
Buyers that I have recently worked with that have purchased Developer Units are delighted to be the first owner, are pleased with the prices they have paid and view it as a great long term investment that will appreciate in time…they will enjoy using along the way !!!
The views from an oceanfront condo in South Florida are breathtaking. Oceanfront views are always spectacular but west views of the city skyline, bay and active intracoastal are interesting and quite breathtaking as well.
Trump Towers, Sunny Isles, has three towers, each with 271 units. Closings are underway. Here are the views from a flow through D unit on the 37th floor.
…and a place to relax at the end of a long day
This unit has 2 bedrooms 3 and one half baths plus a den. It has 2,558 square feet under air, 2,950 total with balconies. Pricing starts at $1,250,000.
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