What 3 Bedroom Oceanfront Condos Are For Sale in Miami Beach?

August 27, 2012 By

There are options for buyers needing at least 3 bedrooms on the ocean in Miami Beach in a relatively new building (post 2004). As is anywhere, the options vary in quality and level of luxury and location.  The prices start at just under $2.1million and go up from there.

South Beach south of Fifth Street offers the most expensive options available. The Continuum and the Apogee South Beach offer several very large condos exceeding 4000 square feet of living space in the most prime real estate in South Florida.The highest priced oceanfront condominium today is  a penthouse at the Continuum in South Beach.  It has plenty of space, over 11,000 square feet,   6 bedrooms 7 and one half baths, rooftop pool, private elevator and staff quarters. Asking price is $39,000,000.    If this masterpiece is more than you would like to spend there are other more modest options available at the Continuum offering 3, 4 and 5 bedrooms averaging around $1500 square foot.

The Caribbean on 38th and Collins is a wonderful building in a great location.  It consists of two towers, North and South. The South Tower is a new ground up structure and the North Tower is a renovated gem capturing the Art Deco essence of old Miami Beach.  Very few units come on the market but there a few opportunities at around $1100 square foot for a premier direct oceanfront condo.

Canyon Ranch Miami Beach has just one 3 bedroom 3100 square foot  penthouse in the South Tower offered at $1033 per square foot. This is a large unit for Canyon Ranch. Canyon Ranch is of course all about the lifestyle and outdoor spaces.

As we move into season, we are  expecting the world wide demand to continue and sales for these premier properties to continue at the very brisk pace that we have seen throughout the summer.

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Hollywood- Hallandale Beach Oceanfront Condo Year End Sales Profile

August 20, 2012 By

Hollywood and Hallandale Beach for a long time have offered the best oceanfront condominium deals anywhere along the coast in a newer building.  The prices per square foot have been and are less than Fort Lauderdale, Sunny Isles or Miami Beach.  Activity has been consistently very strong and inventories are considerably reduced all along the coast.  As we move into the last quarter of 2012, as I usually do, I am providing a snapshot of each of the most sought after new condominiums in Hollywood and Hallandale Beach.  See chart below. The buildings included in this overview are Beach Club, Ocean Palms, Diplomat Residences, Apogee Beach, Trump Hollywood and Villas of Positano.

Prices per square foot in Hollywood and Hallandale in a newer oceanfront building range from $321 per square foot to just under $600 square foot.  In a comparable building in Miami Beach (15 minutes further south) prices are well over $1000 square foot. Purchasing a condo with direct ocean views, 2-3 bedroom finished out is available in this area at under $500 per square foot .  Each building has a very specific character, luxury level,  size and amenity offering; from the very large Beach Club with 1200 units to the smaller Apogee Beach (brand new) with less than 50 condos.

An outstanding statistic is the extremely low levels of inventory.  It wasn’t too long ago when each building had over 20% or more for sale.  You can see on the chart below that just about every key building is at inventory levels below 10%.  The number of closed sales are also close to the number of active listings. You can see a steady flow of activity in each building.  This trend is consistent for all the newer buildings from Miami Beach up to Fort Lauderdale and Boca Raton.

Prices today, although certainly not as low as they were in 2009 and 2010 still present to be attractive to buyers from all over the world as sales continue to be strong and have been right through this past summer.   Our outstanding weather and beaches will attract an influx of visitors in just 2 months from now as our season gets underway.  The trends indicate continued strong sales.  As inventories continue to shrink prices will inevitably increase. That being said, buyers are here and are continuing to arrive.

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