Pre-Construction Oceanfront Condo Trend: Small Boutique Buildings

November 26, 2012 By

 

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


Filed Under: Pre-Construction-Luxury Oceanfront Condos Tagged With: , , , , , , , ,

"Today Show" reports on Miami Condo Sales Activity

March 24, 2010 By

The video below was broadcast on the Today Show. Most of the video is highlighting downtown Miami Condos on Brickell Avenue where the bulk of the excessive inventory is.  Select Oceanfront Condos have experienced similar outcomes. As I wrote in my last post, inventories are down across the board and sales are up.

Visit msnbc.com for breaking news, world news, and news about the economy

Filed Under: Buying Real Estate, Deals, Fort Lauderdale Oceanfront Condos, Miami Oceanfront Condos, Palm Beach Oceanfront Condos, Pre-Construction-Luxury Oceanfront Condos Tagged With: , , ,

Trump Towers Condos Sunny Isles Taken Over by Dezer

March 7, 2010 By

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.

Filed Under: Miami Oceanfront Condos, Pre-Construction-Luxury Oceanfront Condos, Trump Towers-Sunny Isles Tagged With: , , , ,

Oceanside Pompano Beach-New Luxury Building at Great Prices-

December 16, 2009 By

The Plaza at Oceanside in Pompano Beach is an outstanding luxury building that was built by WCI and hit by the worst possible economic conditions in 2007-2008.  WCI had its share of troubles, and the building sat unsold for about a year post completion.  In South Florida, several of these wonderful buildings, that remained unsold and unoccupied have been bought up by “Bulk Buyers” stepping in and buying either the entire building or a large number of units.  This has happened at the Caribbean in Miami Beach, Harbour House in Bal Harbour and other buildings as well.   As reported, WCI Communities has sold The Plaza at Oceanside in Pompano Beach to Hollywood developer Ari Pearl and his partner, New York-based The Chetrit Group , for $38.5 million.  While WCI was under Chapter 11, potential buyer’s were of course concerned about the future of the project and so the building sat primarily empty.  With new owners, great location, attractive pricing and outstanding amenities, this project presents a very attractive buying opportunity.

I have been watching and keeping tabs on this building, and I am delighted to hear that it now has the stability it deserves.

The Plaza at Oceanside is across the street from the ocean directly on the intracoastal.  There are units available with intracoastal views and units available with ocean views as well.  All units are either 2 bedroom, 2 bedrooms plus a den or 3 bedrooms and they run from 1441 square feet to over 4900 for the penthouse.  I have the original price list when sales were first offered. At that time prices per square foot were around $800.   Today, opportunities are at a fraction of the original asking prices.

The building has a total of 186 units and they are already about 27% sold.  Maintenance fees have been reduced to $0.45 per square foot as well.

The lobby and common areas are adorned with modern art everywhere.  The interiors were designed by Steven G.

An outstanding feature about this building is the incredible amenities offered.  They have many rooms for the residents to appeal to a variety of past times.    There is a wine room with wine lockers for the owners, news room with a  stock market ticker, theatre room, golf simulator,  fully equipped gym, internet room set up with lap top tables and private rooms, teen room, infant room and much more.

Floor plans are spacious and kitchens and baths are nicely appointed. Contact me for floor plans, prices and further details.

Susan Reiter (954) 632 3266

susan@blogsouthflorida.com

Intracoastal and Pool

Full appointed kitchens with fine appliances

News Room-The Plaza at Oceanside Pompano Beach

Theatre-The Plaza at Oceanside Pompano Beach

Fully Equipped Gym-The Plaza at Oceanside Pompano Beach

Expansive Pool-The Plaza at Oceanside Pompano Beach

Game Room and Residents Lounge-The Plaza at Oceanside Pompano Beach

Wine Lockers-The Plaza at Oceanside Pompano Beach

Indoor Golf Simulator -The Plaza at Oceanside Pompano Beach

Teen Room-The Plaza at Oceanside Pompano Beach

On-Line Internet Room-The Plaza at Oceanside Pompano Beach

Filed Under: Buying Real Estate, Miami Oceanfront Condos, Plaza at Oceanside, Pre-Construction-Luxury Oceanfront Condos, Uncategorized Tagged With: , , , ,

Trump Hollywood To Begin Closings

August 22, 2009 By

Hollywood and Hallandale Beach host several new oceanfront condos that are highly desirable and sought after.  Beach Club, Diplomat Residence, Ocean Palms, and the Villas of Positano

Of those condos, there are 57 units on the market that exceed $ 1million.  There have been 6 closed sales for units over $1million in the past 6 months.  There is a tremendous demand for this area and there are buyers at that price point, although not many in this market.   The average price per square foot of closed sales average under $400 per square foot except at the Villas of Positano where the closed sales are closer to $500 per sq. ft. or higher.

These new condos are about to be joined by the brand new Trump Hollywood, closings will begin next week. Timing for this project could not have been worse.  Prices start at $1.3 million.   The concerns about this Related Group project were identified in the  Sun-Sentinel.  Donald Trump Jr. was on property Friday.  They are stating that they have 140 buyers lined up.

I will be watching this property carefully in the comings weeks and months and certainly hope to see it succeed.

Filed Under: Beach Club Hallandale, Buying Real Estate, Diplomat Oceanfront Residence, Fort Lauderdale Oceanfront Condos, Ocean Palms Hollywood, Pre-Construction-Luxury Oceanfront Condos, Trump Hollywood, Villas of Positano Tagged With: , , , , , , ,

Mei Miami Beach-Incredible Price Reductions

December 19, 2008 By

The Mei, Miami Beach, is a  new oceanfront condo building in a great location.  Constructions was just recently completed and closings are underway.  Because of current market conditions,  some original buyers are unable to close and the developer is taking back some inventory.

I am always analyzing the market looking for opportunities for my clients.  As I have written before, in my opinion, developer units are where the real buying opportunities lie.  Especially in these economic times, in most cases developers are very motivated to sell their inventory.  I find the opportunities are greater than short sales, foreclosures or bank owned properties.  

The Mei presents some very attractive units with a good amount of square footage and very aggressive pricing.  The Mei is considered a “boutique” building with on 134 residences in 21 stories.  The Mei is situated at the north end on Millionaires’ Row, 10 minutes form South Beach, 10 minutes from Bal Harbour, 20 minutes to international airports.

(one of the lobby seating areas)

The units offer unobstructed views of the ocean and the intracoastal, the golf course La Gorce, Biscayne Bay and spectacular views of downtown Miami.  Designed by Hirsch Bedner, known for award wining projects around the world such as the Oriental Hotels. The building design hosts flowing water, crafted in limestone, teak and exotic fabrics from the east.

Mei will provide each resident Five Star Resort Services including:  

o Breathtaking lobby with 24 hour concierge and valet parking services 

o Tea Lounge

o  Zen library

o  Asian inspired spa, Yoga studio

o State of the art fitness facility with private massage rooms, steam room, lockers

o  An ocean view stunning pool deck where lagoon pools and tropical gardens create a hideaway on the ocean with an infinity         edge pool and a misting pool to delight all your senses. 

o  Mei will offer the most advanced cutting edge technology system included in each residence as standard:

o  21st century technology with Pre-wired and pre-installed fiber optic connections for: Satellite TV, Email boxes, Local and international telephone, voice mail service, wireless hi speed Internet, music and video library.

An outstanding feature of the units offered are the expansive wrap around balconies.  Even if you are situated on the west side of the building, the wrap around balcony offers you direct ocean views as well.

The units start at 1,148 square feet and  range up to 1,817 square feet.  I do receive many inquiries for spacious 2 bedroom oceanfront units in Miami Beach.  The developer is offering at the Mei today a 2 bedroom unit 1,374 square feet with another 664 square feet of balcony for around $580 square foot.  Prices not too long ago were around $1000 square foot.  How is that for an opportunity ! 

For those that are looking to buy an oceanfront condo in Miami Beach, the Mei is worth taking a look at.  

The expansive west views are spectacular…especially at night !

   

The library carries through the zen like design….

The pool has a gentle waterfall with with in pool seating overlooking the ocean….

The balconies wrap around the corner so direct oceanfront units will also appreciate the interesting west views.

 

The kitchen has wood paneling and top of the line appliances.

Baths have dual sinks and modern fixturing…..

 

Here are pictures of the finished model unit….


 

Filed Under: Buying Real Estate, Deals, Mei-Miami Beach, Miami Oceanfront Condos, Pre-Construction-Luxury Oceanfront Condos, Uncategorized Tagged With: , , ,

One Thousand Ocean Boca Raton Florida

December 4, 2008 By

I was invited to a private party at One Thousand Ocean in Boca Raton .  Construction is moving along on schedule and the Boca Raton Resort Beach Club is expected to open in January.

The Boca Raton Resort has some outstanding restaurants including Morimotos.  Famous Chef Morimoto was at the party and I certainly enjoyed the sushi ! 

It is so exciting to see the progess on this luxury oceanfront condo. There are very few oceanfront condos in South Florida that have a footprint right at the inlet.  This location is exceptionally appealing because it offers continual viewing interest as all the boats coming in and going out to sea ride past your window.  

One Thousand Ocean is exceptional in many ways.  In addition to its outstanding location,  this oceanfront condo offers ultra luxury quality coupled with access to all the amenities of the Boca Raton Resort and Beach Club. All these assets makes this an outstanding luxury oceanfront condo.

There are only 52 one and two story Residences.  The smallest unit starts at 3,072 square feet and the largest unit exceeds 5,800 square feet.  There have been buyers that have bought several units. One buyer purchased 3 units and will have a residence exceeding 10,000 square feet. 

Filed Under: Amazing Views, Best of the Best Oceanfront Condos, Boca Raton Oceanfront Condos, One Thousand Ocean, Palm Beach Oceanfront Condos, Pre-Construction-Luxury Oceanfront Condos Tagged With: , , ,

One Thousand Ocean Penthouse Floor Competed

November 14, 2008 By

Construction is progressing on schedule as the Penthouse floor has just been completed at One Thousand Ocean in Boca Raton.  It is expected that work will begin on the interiors as well as the exterior facade in the upcoming week.

One Thousand Ocean is built on the most coveted inlet in Boca Raton on South Ocean Boulevard.  It is situated across the bay from the Boca Resort & Beach Club which in January will join the Waldorf-Astoria Collection.  The Beach Club is undergoing a $120 million renovation which will offer a completely renovated facility including the three oceanfront pools, guest residences, oceanfront dining, children’s play area and stuning oceanfront bar.

The Boca Raton Resort is truly an all inclusive destination offering all the amenities you could think of.  Residents at One Thousand Ocean will be a stones throw away from it all.  The Boca Resort & Beach Club has recently added some great dining options including The Old Homestead, Morimoto, Lucca and one of my old New York favorites Serendipity for frozen hot chocolates.    

This is one of the truly unique ultra luxury properties available in South Florida. There will be only 52 one and two story Residences.   Residences start at 2,835 square feet.  The Beach Penthouse is 5837 square feet with an outdoor living area of 3,665 square feet.

 

 

 

Filed Under: Best of the Best Oceanfront Condos, Boca Raton Oceanfront Condos, One Thousand Ocean, Pre-Construction-Luxury Oceanfront Condos Tagged With: , , , ,

Orient Express Condos and Hotel to be Built in South Beach

July 12, 2008 By

orient-express hotel and condo

As reported in the Miami Herald and the Sun Sentinel, The Related Group announced plans to build a luxury hotel and condominium complex in South Beach with the Orient Express hotel company.

The $150 million South Beach project will have 100 hotel rooms and 28 condos priced from $2 million and is expected to open in three years. The South Beach hotel will bring the number of Orient Express U.S. properties to eight.

This addition will be in good company. The Cipriani, Ritz Carlton, St. Regis, and Canyon Ranch are just some of the luxury hotel condo projects underway. The demand for luxury South Florida Properties continue to be supported by visitors world wide.

Filed Under: Miami Oceanfront Condos, Pre-Construction-Luxury Oceanfront Condos Tagged With: , ,

Miami Ultra Luxury Condos Are Selling- Resales and Pre-Construction

July 6, 2008 By

fischer-island

In the last 6 months there were 10 reported closed sales in the ultra luxury condo market, over $5 million. The most expensive reported sale was at Fisher Island. A 5 bedroom 8900 square foot trophy property sold for $12,360,000. The asking price was $15,500,000. That is a 21% price reduction! As we have written before, there are buying opportunities in this market in all price ranges.

In the ultra luxury market, prices are well over $1000 a square foot and can easily step into the $2000 per square foot range.

St.Regis Bal Harbour Pre Construction

There are a few ultra luxury oceanfront condos in pre-construction stages that are also selling in this market. The St. Regis in Bal Harbour, for example, offers a magnificent direct oceanfront 3 bedroom plus media room totaling 3,884 square feet. The St. Regis Bal Harbour Residences, offers the unique Bal Harbour location, all the outstanding amenities and services the St. Regis has to offer, and direct magnificent South Florida Oceanfront views. Asking prices offered for these premier units run around $1,800 square foot. Developers are also somewhat negotiable as well. The St. Regis Bal Harour will be a total of 268 Residences and 36 condominium hotel suites, as well as 183 hotel rooms. The condo-hotel units are sold out. The St. Regis Bal Harbour Information.

st-regis-bal-harbour-kitchenpreconstruction

..

st-regis-bal-harbour-bath preconstruction

The Ritz Carlton Residences in South Beach, another luxury property offers several floor plans ranging from under 1000 square feet to over 2000 square feet. The penthouse recently sold for $17 million. This is a much smaller project with only 86 private residences. Prices are well over $1000 a square foot. At the Ritz Carlton Residences buyers will enjoy the unprecedented services the Ritz Carlton is known for worldwide as well as the direct ocean South Beach location. Ritz Carlton South Beach Information.

Ritz Carlton South Beach

There are other ultra luxury pre-construction projects underway in Miami and South Florida and they are selling to buyers from all over the world.

Filed Under: Best of the Best Oceanfront Condos, Miami Oceanfront Condos, Pre-Construction-Luxury Oceanfront Condos, Ritz-Carlton South Beach, St.Regis Bal Harbour Tagged With: , , ,
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