Starting around 2005, the South Florida Oceanfront coastline appreciated the completion of many new luxury high-rise condominiums. Today there is a new trend emerging. We are seeing the launch of several low density oceanfront projects from Miami Beach up the coast with several in Hallandale/Hollywood Beach and into Sunny Isles as well as north into Gulfstream. By low density, we are referring to no more than 100 residences in a building. Considering that an average tower on the ocean has about 300 condominium residences a smaller building is rather unique, although not new. In Boca Raton along the one mile stretch of premier oceanfront condominiums the average building hosts only 25 residences.
Many of these new smaller buildings are slated as luxury style buildings with the amenities one would expect from a new high end building, just pared down to accomodate fewer people. The low density building takes on many forms from one floor per owner 39 story tower offered at the ultra luxury Regalia in Sunny Isles or a low rise 7 story building such as the One Ocean in South Beach.
Oceanfront condominium have appreciated extraordinary sales over the last 18 months and inventories are very low for resales in the newer condominiums built 2005 or later. Developers, many who have waited on the sidelines until the market changed now see that timing is right for new construction for oceanfront condominiums.
Let’s take a look at some of the new low density oceanfront condominium projects also known as “The Boutique Building”:
One Ocean South Beach- Miami Beach TOTAL: 50 residences; Square footage Starting at 1249; Pricing $860-over $2000 per square foot
Villas of Positano-Hollywood Beach TOTAL: 17 residences; Square footage Starting at 3200. Pricing $437-$526 per square foot
Sage Beach -Hollywood Beach- TOTAL: 24 residences; Square footage Starting at 1031; Pricing$600-$900 per square foot
Apogee Beach-Hollywood Beach-TOTAL: 49 residences; Square footage Starting at 1691; Pricing $600-$900 per square foot- ALMOST SOLD OUT
Chateau Beach Residences- Sunny Isles Beach- TOTAL: 84 residences; Square footage Starting a 1824; Pricing $770-$1100 per square foot
Mansions at Acqualina- Sunny Isles Beach- TOTAL: 78 residences; Square footage starting at 4500 square feet; Pricing starting at $1100 per square foot
Regalia- Sunny Isles Beach- TOTAL: 39 residences; Square footage Starting at 5515; Pricing starting at just over $1000 per square foot
4001 Ocean Gulfstream TOTAL; 34 residences; Square footage Starting at 2841 Pricing $600-over $1000 per square foot
It is anticipated that more of these smaller luxury condominiums are going to appear on the ocean as well as on the intracoastal in the not too distant future. We are now seeing the reappearance of construction cranes along the South Florida Coast once again.
Contact us further for information on any of these or other pre-construction projects is required.
Regalia- Photographed September 2013