The information resource for Luxury Oceanfront Condominiums in Miami, Sunny Isles, Bal Harbour, Fort Lauderdale, Boca Raton and Palm Beach. (954) 632 3266

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.

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.

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.

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.

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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.

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.

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!!!

As our readership knows, we specialize in luxury oceanfront condos in South Florida. In our opinion very few properties qualify for an ultra luxury classification. One Thousand Ocean in Boca Raton is a new oceanfront ultra luxury condo that has earned that distinction.

This seven story building is a mixture of 52 one and two story Residences with Beach Villa and Penthouse choices. Built on the most coveted inlet on South Ocean Boulevard, residences feature spectacular views of the ocean, the shoreline, and westerly city and lake views. One Thousand Ocean is under construction with occupancy expected spring 2009. According to the developer it is already 50% sold out. Prices for this ultra-luxury property begin at over $4 million.

The team behind One Thousand Ocean is LXR Luxury Resort, owned by an affiliate of the Blackstone Real Estate Advisors, Garcia Stromberg, RTKL, and EDSA .

The residences are all spacious starting at around 4000 square feet with 10 foot ceilings. Villas feature 20 foot double height spaces. Penthouse units exceed 12,000 square feet. All the units have floor to ceiling window and are finished out with tasteful color choices and the finest materials. Everything about this property has been given the utmost attention to detail.

The images below will provide you with a preview of One Thousand Ocean.

The residences are pre wired to accommodate the state of the art technology. Kitchens are finished with custom designed cabinetry and the finest appliances including Wolf 36 inch five burner gas stove.

Close up of stone and glass materials used in the kitchen.

Stone fireplaces are in the master Bedroom and main living area.

Master baths have stone vanity countertops with glass mosaic accents, frameless glass shower enclosures, Roman Therapy Whirlpool tubs and custom designed Italian Cabinetry.

His and her dressing rooms are custom designed with built ins and a free standing vanity dresser. A Sub-zero midnight snack refrigerator drawer is included.

Terraces are oversized and include a private plunge pool with massaging jets, and outdoor kitchen, and exposed wood ceilings.

One Thousand Ocean is a mere water taxi to the Boca Raton Resort and Club. The Boca Raton Resort and Club has outstanding first class amenities including two championship golf courses, 30 award-winning clay tennis courts, Spa Palazzo, 32-slip marina, Half-mile private beach, beach club, three state-of-the-art fitness centers, and an extensive schedule of social activities available for all ages. Boca Raton Resort has world-class restaurants including Old Homestead from New York. Gordon Ramsey is opening a restaurant as well as Serendipity, one of New Yorkers favorite dessert destinations.

One Thousand Ocean in Boca Raton is a most unique modern designed ultra luxury residence.

Canyon Ranch offers luxury oceanfront condos, a complete healthy lifestyle and right now incredible buying opportunities.

The South Tower has begun closings. The North Tower will begin closings in a couple of months and the hotel and incredible spa facilities will be completed this summer as well. This multi-use project is like non other. The lifestyle and amenities offer an immersion into healthy living on all levels. The options are so extensive but your level of participation will be total personal.

Buying into a luxury oceanfront condo in South Florida has tremendous appeal. Add in the complete lifestyle immersions available to you everyday and night and this project is truly something special. Now here comes the icing on the cake; there are buying opportunities right now. A few select units are being offered by the developer at 2003 price levels and they are selling fast.

The pictures in this post were taken from a corner flow through unit in the South Tower with direct ocean, intracoastal and downtown Miami views.

If you are thinking of buying a luxury oceanfront condo in Miami or South Florida….Canyon Ranch is something really special. RUN DON’T WALK!

Here are Canyon Ranch Condos For Sale These listings are not developer units but resales from previous purchasers. If you would like information on some particularly interesting opportunities…let us know.

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.

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.

The construction of Trump Hollywood is moving along rapidly. Construction is progressing at the rate of about one floor a week. I took this picture three weeks ago and its amazing how quickly it is moving along. The projected 2009 delivery is right on schedule.

Responsive to current market conditions, there are buys available that are aggressively discounted off the original established price. For example, one specific 3395 square foot unit was originally offered at $745 square foot, $2,532,900. you could now buy that unit for $625 a square foot $2,124,900.

The Hollywood/Hallandale Beach area is becoming more and more in demand especially for second home buyers. It is located 10 minutes from Ft.Lauderdale International Airport and easily accessible to South Beach, Bal Harbour, or even Boca Raton.

Each of the relatively new oceanfront condos in Ft.Lauderdale has their own individual style, size and characteristics. Trump Hollywood will satisfy those looking for white glove concierge service.

Continuum II pictured below.

In South Florida, the word “pre-construction” can be a taboo word. But not in the high end luxury market. As previously blogged, the high end luxury market is alive and kicking. There are several luxury and ultra luxury projects underway in South Florida and we are told sales are brisk.

We are often contacted by Canadians, Europeans and Northerners inquiring about specific luxury oceanfront pre-construction projects. Each project has its own unique characteristics that afford it a luxury status. To help our out-of towners- we are offering a concise look at 5 of the most sought after projects.

Canyon Ranch: Healthy Living is is more than diet and exercise. The visionary concept is known as “healthy living”. There is an extensive offering of education, nutritional, exercise and relaxation options integrated into your everyday life.

Ritz Carlton: Uncompromising service that distinguishes the Ritz-Carlton hotels has been adapted to their Private and Fractionally owned Residences. Only 86 private residences available in a magnificently designed structure.

St.Regis: Located in exclusive Bal Harbour, the St.Regis offers a 5 star resort hotel and condominium. The signature St. Regis Butlers will offer white-glove service. Of course the finest shopping must be easily accessable…across the street from the Bal Harbour shoppes.

Cipriani: Following in the world renowned Cipriani’s tradition, the 66 unique residences will be finished with the finest imported Italian marble and finishings. All residents will be catered to by the Cipriani hallmark of service and discretion.

Continiuum II: Location, location, location. The Continuum II is situated south of fifth street adjacent to one of the most desirable buildings in South Beach, The Continuum South Tower. Directly on the sand, the facilities and location continue to be favored by a very international crowd.

The Continuum II and Canyon Ranch are nearing completion and are expecting occupancy to begin in January 2008. The other projects mentioned have a way to go.

Below is a chart that provides information on building size, price range, apartment size and expected completion. If you would like to see floor plans or need additional information, let us know.