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.

Filed Under: Beach Club Hallandale Tagged With: , , , , , , , , , , ,

South Florida Oceanfront Condo Post Season Activity

April 29, 2012 By

Some of the buyers that I work with have the mindset to wait until after the peak season to move forward with buying an oceanfront condo. The thought process is that there may be more motivation from the sellers now that South Florida is in a “slow season”.  There has not been a slow down in sales along the coast for new oceanfront condos. In fact, there is an increase in activity.

Here are some statistics that reflect the Post Season Sales activity in Miami Beach and up the coast including Sunny, Isles, Bal Harbour, Hollywood -Hallandale, and  Fort Lauderdale.

The information provided below is based on information from the MLS and it reflects oceanfront condos built after the year 2000.

  • The the past 30 days 101 condos were sold and are pending closings.
  • 35 sales were for over $1 million dollar list price
  • 40 condos were on the market for 60 days or less
  • 22 condos were on the market for 30 days or less
  • 15 condos were on the market for 10 days or less
  • 20 of the 101 condos sold never had a price reduction
  • 21 of the sold condos had price increases prior to being sold
The oceanfront condo buildings with the most activity in the past 30 days are:
Those are the statistics as reported.  What I am seeing as I search for condominiums for my buyers are that the inventories are down considerably.  6 Months ago there were several options to choose from in a set price range in many of these key buildings.  The sales activity has absorbed so much inventory that now the choices are limited.
South Florida oceanfront condominium market has out performed every other market in the United States.

 

 

Filed Under: Beach Club Hallandale, Buying Real Estate, Canyon Ranch, Caribbean Miami Beach, Miami Oceanfront Condos, One Bal Harbour, Trump Towers-Sunny Isles Tagged With: , , , , , , , , , ,

Beach Club Hallandale, Trump Hollywood and Apogee Beach- All Selling

February 11, 2012 By

I have been working with an out of town buyer looking for a vacation condo on the ocean.  He likes the Beach Club in Hallandale . He is looking for a 2 bedroom plus den, large square footage and the condo must have great views.  The building must be relatively new and have great amenities.All this for under $800,000.  There are not too many buildings that will satisfy this criteria along the coast of South Florida.  Several of the options that we selected went to contract before we even were able to view them.   It is amazing how fast the market is moving in this price range with this criteria.  Condos are going to contract quickly if they are priced well and inventories are shrinking fast. The Beach Club in Hallandale continues to offer great value for second home buyers.

Next door to the Beach Club, the Apogee Beach oceanfront condominium is under construction.  This is a luxury boutique building with only 49 total residences. They are also selling fast with remaining units starting above $1,3 million.  Trump Hollywood is just up the street, also a luxury building with prices well into the millions.  Both Apogee Beach and Trump Hollywood are different more upscale properties, but they also have reported very brisk sales with many lines already sold out. the luxury opportunities in Hallandale Hollywood are priced more attractively then Sunny Isles or Fort Lauderdale.

Hollywood and Hallandale Beach continue to offer great oceanfront condominiums with some of the most attractive pricing anywhere along the coast. There is product available in all price ranges. There is a new large hotel project underway on the Hollywood Broadwalk, Jimmy Buffet Margaretaville.

Hollywood Hallandale Beach continues to offer great options at good prices.

Filed Under: Beach Club Hallandale, Trump Hollywood Tagged With: , , , , , ,

Pompano Beach- The New Hollywood Beach for Oceanfront Condo Deals

March 12, 2011 By

New oceanfront condo construction in Hollywood Beach offers several wonderful buildings.  There is the Diplomat Residences, Ocean Palms, Villas of Positano, the Beach Club in Hallandale and now Trump Hollywood. I have written numerous articles about finding the best oceanfront buys along the coast in these few buildings.  On a dollar per square foot basis for direct oceanfront views, spacious floor plans, great amenities and a nice new building these buildings are the buy.

Hollywood and Hallandale attracts buyers from all over the world looking for an oceanfront vacation home in South Florida priced well.  It is an area that has old Florida charm mixed with luxury oceanfront condos. There are many neighborhood restaurants and there is the Hollywood Broadwalk.  Second homes purchases in this area have remained strong throughout the economic down turn.

There is a new area that has similar characteristics to Hollywood.  Pompano Beach is beach town mixed with old Florida charm, older condominiums and new Luxury buildings.  Many buyers are now moving north to Pompano Beach to take advantage of several opportunities in new very well priced condominiums.  These opportunities are a little different because they are across the street from the ocean, but they each offer spacious floor plans in new buildings with nice amenities, at todays prices.

Oceanside Pompano Beach consists of 186 condos, half facing the intracoastal and half facing east towards the ocean.  Preciously owned and developed by WCI, the current owners set competitive pricing and they are selling fast.  For example,  there is an unobstructed beautiful west views on the 12th floor that is  1462 square feet with an asking price of $512,000.  That works out to $350 per square foot.  This building has outstanding amenities and the units have nice quality finishes and top of the line appliances.

Sonata Beach Club is another option of interest.  These are large 2 bedroom plus den condos with ocean views. For example there is a mode that is 2529 square feet, asking price $855,000, $338 per square foot.  It offers a fantastic open floor plan, huge balcony and expansive ocean views.

Another option down the street in Fort Lauderdale is the Sapphire Condominium.  Again, it is across the street from the ocean but you can buy a 1630 square foot 2 bedroom plus study on the 8th floor with great ocean views for $619,00, $379 per sq. ft.

This season is probably one of the busiest oceanfront condo buying seasons ever in South Florida.  At Oceanside Plaza, at this point in time there were only 6 intracoastal facing units left. Every other unit is sold.  I was there last weekend with a client and the sales office was non stop with buyers.

Ocean Palms is a great building to analyze that represents the intense buying activity along the coast. 54 units have either sold or are pending sale in the past 6 months.  Currently there are only 11 units for sale on the market.   6 months ago if I remember correctly there were probably about 50 condos for sale.

There isn’t a buyer today in whatever price point they are in that isn’t looking for a buying opportunity.   Many of the buyers I speak with clearly feel this is the time to buy and are concerned about missing these great opportunities.  Some buyers are even sorry they didn’t buy 6 months ago.

Filed Under: Beach Club Hallandale, Buying Real Estate, Deals, Diplomat Oceanfront Residence, Fort Lauderdale Oceanfront Condos, Ocean Palms Hollywood, Oceanside Pompano Beach, Sapphire Fort Lauderdale, Sonata Beach Club Pompano, Trump Hollywood, Villas of Positano Tagged With: , , , , , , , , , ,

Hollywood-Hallandale Oceanfront Condos- What is Selling?

January 23, 2011 By

Hollywood and Hallandale Beach offer the best prices per square foot for relatively new condominiums on the ocean along the coast in South Florida. The Hollywood Hallandale Beach area has attracted many buyers because of its attractive pricing, proximity to the Fort Lauderdale International Airport, the Hollywood Broadwalk, and its Florida original character. The great buildings in Hollywood-Hallandale are the Beach Club, Diplomat Residences, Ocean Palms, Villas of Positano and Trump Hollywood.

They are all great buildings finished with floor to ceiling windows, latest state of the art kitchens and baths, full service amenities and with the footprint right on the sand. As with all condominiums along the coast, each building offers its own personality, amenities, floor plans and services.

In today’s south Florida real estate market buyers are taking advantage of low prices.  Sales are very active. The international appeal, and second home acquisitions have kept this market healthy and active. Short sales and bank owned units make up a small percentage of the data but the primary sales activity are condos sold by realistic motivated sellers.

The following great buildings fall into this group:

Here is a look at the last 6 months of sales activity in these select buildings:

Beach Club All Three Towers

Total of 1200 condominiums.

75 closed sales

19 currently under contract

$229,900-$800,000

Diplomat

135 units-29 Floors

5 closed sales

3 currently under contract

$510,000-$900,000

square footage 2157-3050

Ocean Palms

240 units- 40 floors

14 closed sales

8 currently under contract

$425,000-$1212,500

Square Footage  1773-3091

Villas of Positano

62 Units 11 floors

7 Closed Sales

$998,000- $1,685,000

Square Footage 2771-3412

Trump Hollywood, as written in my article of November 18th 2010, is the newest and most luxurious of all the buildings. Recent foreclosure and new ownership will bring many changes and opportunities. New sales have not yet been reported to the tax record.

200 Units 40 floors

$687,000-$2,789,900

Square Footage 2,088-5005


Filed Under: Beach Club Hallandale, Diplomat Oceanfront Residence, Fort Lauderdale Oceanfront Condos, Ocean Palms Hollywood, Trump Hollywood, Uncategorized, Villas of Positano Tagged With: , , , , , ,

Beach Club Hallandale Beach- Still a Great Buy

May 6, 2010 By

Prices at the Beach Club have moved up in the last 6 months, slightly.  Beach Club, Hallandale, overall, still remains to be the best deal along the beach for someone that is looking for a relatively new building, at least two bedrooms and a direct oceanfront building.  Direct Oceanfront units that are quite spacious over 1800 sq.ft. with 2 bedrooms and a den can be bought for under $400 per square foot.    Compared to newer building in Sunny Isles, Miami Beach or Fort Lauderdale Beach this is quite a buy.

Hollywood/Hallandale Beach area is a short drive away from The Village of Gulfstream Park, a fantastic new addition to the area. The Village of Gulfstream park offers, shopping, restaurants, nightclubs and more.  It is beautifully done a great place to spend some time.  Jimmy Buffet’s Margaritaville Resort is expected to be constructed on the Hollywood Broadwalk in the near future as well.

Beach Club Tower One continues to update and improve.  Tower One just completed the new residents lounge.  It is actually the second lounge area in Tower One exclusively for residents. Beach Club Tower One is the only Tower of the three that offers  their own private gym and owner’s own storage space.  I was showing property yesterday, and noticed how well maintained all the common areas are.

Filed Under: Beach Club Hallandale, Buying Real Estate, Deals, Fort Lauderdale Oceanfront Condos 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: , , , , , , ,

Oceanfront Townhomes at the Beach Club- Living Very Large !

February 8, 2009 By

 

  

 Where can you buy over 4000 square feet of luxury living space, inches from the beach, finished with the same fine finishings as the Apogee, for less than $600 square foot?  In  a place you would never think to look…. at the Beach Club.  The Beach Club consists of 3 oceanfront towers in Hallandale Beach.  The Beach Club has long been sold out by the developer except for 3 incredible townhomes that were released after the building was sold out and have recently been reduced.   The Beach Club Townhomes are an extremely unique large living space.   

Townhome A    and   Townhome B    are each  4020 square feet and are situated directly on the ocean.  You can’t get any closer the ocean than these townhomes.  You are literally ” on the sand !”   The two Beach Club townhomes are two stories high offering about 2000 square feet per floor.  They have 4 bedrooms 4 and one half baths.  Townhome B has been finished out, decorated and is being sold furnished. Townhome C is a one story 2 bedroom plus den with a huge patio, 2926 square feet.

The townhomes have their own private entrance with valet parking.  The three townhomes share a private beautifully decorated lobby that is probably over 4000 square feet as well.  There is also an elevator that takes you directly to the gym and pool deck.

 

This is a very unique living opportunity for someone that is looking for very large living space directly on the ocean.   TheBeach Club  townhomes feel like a private home on the ocean.    

Townhome A is being offered for $2,000,000.  Townhome B is being offered for $2,250,000 and Townhome C is being offered for $1,500,000.  

Do you need over 10,000 square feet of living space?   There is the option of breaking through the walls and connecting the townhomes. So imagine if you needed a very large space, you could break through and have over 10,000 square feet on the ocean with your own private lobby !


Filed Under: Amazing Views, Beach Club Hallandale, Fort Lauderdale Oceanfront Condos, Low Rise Oceanfront Condo Tagged With: , , ,

South Florida Oceanfront Condo-Beach Club Deal Updated 1-17-09

January 14, 2009 By

 

Updated 1-17-09

The mystery is over….Here are the details on the incredible oceanfront condo deal….The Beach Club Tower 1, Hallandale Beach.  Unit 1803 Direct Ocean. 1841 square feet under air, total square footage 2121.  2 bedrooms plus a den.  Bank owned brought on the market at $505,900.  Sold in 5 days!!!!     

Posted Jan 14, 2009….For all those South Florida oceanfront condo hunter’s out there looking for an incredible deal…. it is here. Direct ocean unit over 1800 square feet.  If you are even thinking about it….you have to move quickly !!  Contact us if you would like more information.  I usually do not write posts like this but when I see a “break out” price….well I have to share :)

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

Market Profile of Ocean Palms, Diplomat, Beach Club, and Villas of Positano Hollywood and Hallandale

October 8, 2008 By

We wanted to provide our readers with a concrete look at specific buildings in today’s the market. We have selected Ocean Palms, Diplomat Residences, Beach Club1,  Beach Club 2, Beach Club 3, and Villas of Positano in Hollywood.  

Each one of the buildings we selected have their own very specific characteristics.  Beach Club is of course the largest with a total of over 1,200 units whereas Villas of Positano only has a total of only 65 units.  

Ocean Palms has the lowest percentage of units on the market.   Diplomat Residences has the highest, 26% of the total building on the market.  

The closed sales data is based on the past 6 months.  The lowest closed price per square foot was at the Beach Club at $252 per square foot and surprisingly followed by the  Diplomat Residences at $253.   Not surprisingly the lowest sale price was at the Beach Club. 

South Florida newer condominiums have been averaging around 20% of the building on the market for the past year.  That number hasn’t increased in fact, as I mentioned in a previous post, inventory numbers appear to be on the decline.  

Several large scale investors such as Jorge Perez and others are stepping in to take advantage of current market conditions and attractive prices.  Real estate will have its ups and downs but unlike paper investments….it will not evaporate !

 

 

 

 

 

 

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