Sales Activity at Canyon Ranch- Case Study of Ocean Front Condos

January 21, 2012 By

 

 

 

 

 

 

 

 

 

 

 

 

Canyon Ranch Miami Beach is a great building to look at as a case study of the sales activity that has occurred along the coast in South Florida over the past several months. As we have written and as it is published nationwide, South Florida sales performance and prices have outperformed every other real estate market.

Canyon Ranch condominium sales performance is a great reflection of activity all along the coast especially in relatively new luxury oceanfront condominiums.The property consists of three towers with more than 400 units. Condominium prices range from a low end of $300,000 to the high end of over $5 million.  Although Canyon Ranch offers exceptional amenities and offers an enhanced lifestyle, the real estate performance is indicative of other properties along the cost.  The performance of all spectrums of the inventory at Canyon Ranch are indicative of just abut every new building from South Beach to Palm Beach.

Every direct oceanfront condominium at Canyon Ranch priced below $1 million has sold. A year ago there were several opportunities even for one bedroom units well under $ 1 million. Today the lowest asking price for any condominium at Canyon Ranch with a direct ocean view is $1,199,000. At the low end there were several units with less than desirable views but were priced incredibly low for Miami Beach real estate. Those have all sold. The inventory in the North Tower which hosts the larger more expensive units has dramatically decreased. In the past 12 months, more than 65 condominiums have been sold in the North Tower. The majority of those sales were well over $1 million with a large number of sales over $ 2 million.

This kind of sales activity has occurred all along Miami Beach in all price ranges as well as in Sunny Isles, Bal Harbour, Hollywood, Hallandale, Fort Lauderdale and all the way up the coast.

The bottom line to this is that oceanfront condominiums in South Florida are a very hot commodity in all price ranges. Many buyers that have stayed on the side lines waiting and watching are seeing the market activity, increase in prices and are jumping in.

Filed Under: Canyon Ranch Tagged With: , , , , ,

Direct Oceanfront Condominium Deals- Look at Canyon Ranch

February 2, 2011 By

Canyon Ranch Miami Beach completed in 2008 is a unique property consisting of three towers sitting on 6 1/2 acres of direct oceanfront real estate.  The amenities dedicated to living a healthy lifestyle at Canyon Ranch are unsurpassed in all of South Florida.  There are incredible dIrect oceanfront condominium deals at Canyon Ranch Miami Beach!

In Canyon Ranch South Tower on the 16th floor, S1602 there is a 2 bedroom 2 bath 1465 square foot direct oceanfront condo for sale. The views are spectacular offering both ocean and intracoastal and downtown Miami views.  The owner paid $1,250,000. There are white wood floors and upgraded hardware throughout.  He has decided to sell it quickly and has priced it well below market. We have just lowered the price to $899,000.  You cannot buy a direct oceanfront property anywhere along Miami Beach in a new building for this price. This is an incredible opportunity.

In all the new oceanfront buildings,  prices for the direct oceanfront units always command a premium. Most of the buildings have been designed whereby the larger square foot condos are given the premier position in the building, therefore commanding much higher prices.  Finding an absolutely direct oceanfront condominium in a new building in this price range is very rare.

For those looking for a larger unique space, there is another outstanding opportunity in the Beach House of the South Tower, S304. Just under 2200 square feet 3 bedroom 3 1/2 baths with 12 foot ceilings.  This is direct direct direct oceanfront with a wrap around balcony of over 800 sq.ft.  This is a very unique space, decorator ready. Offered at $1,599,000, owner is taking a big loss. This unique space feels like a home.  The high ceilings and close proximity to the ocean makes this very special.

There are incredible real estate buying opportunities at Canyon Ranch.  The really good direct oceanfront deals have been selling as buyers continue to recognize these unique buys. In 2010 there were 4 closed sales in the South Tower ranging from $1 million to $2,500,000.  There are only a few direct oceanfront units left.

I work with many buyers in all the new oceanfront condominiums along the coast. The direct oceanfront premier units that are priced well have sold and continue to sell.  Many buyers that were here last year looking to buy and waited have come back and are shocked and disappointed to see so many of the great buys of a year ago are no longer available.

These great opportunities are great buys… here today but will not last.

Filed Under: Amazing Views, Buying Real Estate, Canyon Ranch, Deals, Miami Oceanfront Condos Tagged With: , , , , ,

Oceanfront Condominiums Most Desirable Floor Plans are Selling-Case Study: Ocean Palms

November 4, 2010 By

The Ocean Palms in Hollywood is a relatively new luxury oceanfront condo completed in 2006.  Most buildings that were completed at the time of the housing market collapse followed a similar chain of events.  Taking a closer look at the history of prices at the Ocean Palms is representational of many buildings in Luxury Oceanfront Condominiums in Miami Beach, Fort Lauderdale and Palm Beach.

Most buildings offer a variety of floor plan ranging from direct oceanfront units to west facing units.  Of course, pricing varies depending on the view and floor level.  There are exceptional condomimiums like Turnberry Ocean Colony that offer only oceanfront units. There are flow through units that offer east and west views, however, there are no units at Turnberry available with just west facing views.

There is almost always one line in the building that is the most desirable unit offering the most spectacular ocean views, often a southeast corner.

Now let’s focus on Ocean Palms.

Over the past 2 years prices in this building dropped for all units. Some short sales and some bank owned units appeared. As in all buildings sellers adjusted prices and condos that were priced for todays standards sold. In the past 24 months 39 condos have sold at the Ocean Palms. The building has 240 units in total.

The most desirable unit at the Ocean Palms is the direct oceanfront unit, the 08 line.  It is over 3000 square feet with 3 bedrooms that can be modified to make it a 4 bedrooms property.  When you walk into this floor plan you enter a large foyer that opens up to floor to ceiling windows of just expansive direct oceanfront views.  The unit spans the entire front of the east end of the building.  It is truly spectacular.  Original purchasers paid from $1.1 million-$1.4million for unfinished decorator ready units.  Listed prices after original owners closed and finished out the units were $1.9 million-$2.1 million.  Then the market collapsed.  In the past 24 months 6 of these direct oceanfront incredible units have sold priced between $1,075,000 and$1,225,000. This puts the price at under $400 per square foot for an incredible spacious luxury direct oceanfront unit.  Right now there are 3 of these exceptional units under contract and only 3 still actively listed.  A year ago there were 8 of these exceptional units on the market.

Elsewhere in the building prices have come down and bank owned aberrations have appeared. However, no “08″ unit has sold for under $1 million.

What is clear is that the exceptional most desirable direct oceanfront spectacular floor plans in luxury buildings have sold and are continuing to sell.  This is true for almost any building along the coast including Canyon Ranch, Diplomat Residences, Bath Club, Mei in Miami Beach, the Caribbean as well as any other luxury building on the ocean.

Filed Under: Amazing Views, Bath Club, Best of the Best Oceanfront Condos, Buying Real Estate, Canyon Ranch, Caribbean Miami Beach, Mei-Miami Beach, Ocean Palms Hollywood Tagged With: , , , ,

Canyon Ranch- Healthy Living " Where Miami's Hautest Get Healthy"

July 4, 2010 By

Hauteliving.com wrote a great piece on Canyon Ranch.

Nicely written article with photos depicting the amenities and ambiance of this unique property.

The article touches on the history of Canyon Ranch and its world wide recognition as a premier destination for health and wellness.  It recognizes the uniqueness of Canyon Ranch starting with the environment that is spread out on over 6 1/2 acres.  The zen like atmosphere is created by the architecture and minimal tropical landscaping.

The article is a well written piece that summarizes why Canyon Ranch has become so popular, focusing on the amenities which address living a healthy lifestyle on many levels.

There are buying opportunities in the resale market as well as new construction. Click here for New Condo Sales and Condo Resales For further information contact 305-741-3336

Filed Under: Best of the Best Oceanfront Condos, Buying Real Estate, Canyon Ranch, Miami Oceanfront Condos, Wellness and Healthy Living Tagged With: , , , , , ,

Canyon Ranch-Buying Opportunity for Investors or Individuals

June 6, 2010 By

Canyon Ranch Miami Beach condo sales have been extremely active over the last few months as individuals and investors snap up great deals in the Carillon Condo-Hotel Tower and the South Tower. Well over 35 units have sold in the last 6 months.  My continual research on luxury oceanfront condo buildings reveal a growing list in each building along the coast of units gone to contract and closed sales. Canyon Ranch is leading the way.

As I have written on several occasions, some of the best deals in today’s South Florida oceanfront condo market are deals offered by motivated seller’s.  Well here is a great deal….In the Carillon Hotel Tower, there are two units on the market in the best line owned by the same owner. Units C506 and Units C1006.  These units are one bedroom suites that have spectacular direct ocean views, fully furnished, with balconies off the living and bedroom. This line is completely sold out and these are the only two units available.   Owner’s of condo hotel units have the option to put their unit in the condo hotel program. Because these particular hotel rooms are so desirable the hotel books these units to hotel guests pretty consistently.

The price for unit C506 has just been reduced to $499,000 and unit C1006 is listed for $609,000.  Comparable units on other floors have sold for as high as $750,000.  This is a great opportunity for an investor interested in buying both units as a package deal or separately!

There are plenty of investors in the market today looking to invest in South Florida oceanfront real estate. I hear over and over from my clientele “ South Florida oceanfront real estate is a great long term investment, that I can enjoy as well.”

Canyon Ranch Miami Beach offer services and amenities unlike any other condominium along the coast including a full service luxury hotel, restaurant, spa and gym.  It has become a very popular destination for visitors from around the world that want to enjoy a healthy retreat in one of the most colorful cities in the world.  The property sits on over 6 1/2 acres providing a serene relaxing environment, while minutes away from South Beach, Bal Harbour and other great South Florida destination.

Contact us if you would like more information on this great opportunity. (954) 632 3266.  susan@blogsouthflorida.com

Filed Under: Best of the Best Oceanfront Condos, Buying Real Estate, Canyon Ranch, Deals, Miami Oceanfront Condos, Wellness and Healthy Living Tagged With: , , , , ,

Canyon Ranch Miami Beach Condo and Condo Hotel Sales Activity

May 13, 2010 By

I have been involved in Canyon Ranch Miami Beach since its pre-construction days.  The changes and evolution over time have been quite amazing.  Before the hotel officially opened, the 6 1/2 acre property was a construction site that I became very accustomed to seeing.  Then overnight all the hotel furniture was delivered and the property became fully staffed the next day.  The official opening was not publicized greatly at that time but the change for us to see was very dramatic.  That official opening was not during peak winter months.  The progression of sales, rentals and hotel activity from opening day until now has been slow but consistent, reaching a very busy peak this past winter.

The property itself is like no other.  Just the physical footprint stretching over 6 acres provides an open, never crowded feeling.  The amenities are absolutely unmatched.  Exercise classes offered throughout the day, but not just your typical yoga and aerobics.  Classes such as Beach Conditioning,  Boxing Circuits, H2O Power Hour and Vinyasa Yoga are to name just a few of the daily choices. Beyond classes, there are lectures on nutrition, beauty and other topics addressing the mind, body and spirit. And of course, the incredible restaurant with healthy gourmet food.

And then there is the real estate.  Three towers, South Tower (including the Beach House) , Carillon Hotel Tower, and the North Tower.  The South Tower is just about sold out, and there have been numerous resales. The Carillon Hotel Tower consists of condo- hotel units and condos on the upper floors. The developer has slashed prices on condo hotel units and sales have been very brisk, with some investors buying multiple units at a time. The Condo Hotel Units can offer a continual revenue stream for the owners, yet access to use the unit as desired.  We have two units for sale that are one off the corner with direct ocean views and two balconies.  Unit C 506 and Unit C1006. These condo-hotel units are highly requested by hotel guests because of the amazing views and balconies. We also have one of the very few 2 bedroom suites available at a very aggressive price.  Unit C1018 is being offered for $539,000.

The more expensive North Tower is slowly being sold.

Sales activity has been steady and quite active.  Since December 1, 2009 there has been a total of 24 reported sales at Canyon Ranch between the Center and South Tower.  There may be lag from the time the sale closes to the time it is reported so this listing is as reported up until May 13th. There was one reported closed sale in the North Tower for $1,710,000. The developer has sold numerous units in the past 2 weeks that are not yet reflected in this list.

There is a very strong demand for South Tower direct ocean condo units that are priced well.  There is flow through floor plan, offering east and west views, 2 bedroom 2 baths with approximately 1500 Sq.Ft.  This floor plan is sought after by end users as well for a rental property that averages $5,000 monthly for rental income in season.   Unit 1105 (Our LIsting) is the only unit priced under $1million with this floor plan.  It is offered at $895,000 and is a finished out unit. There has been a tenant in the unit and we have not been able to show this property, but the tenant is leaving shortly and this will sell quickly.

The Beach House, which extends towards the ocean in front of the South Tower offers a variety of floor plans, but has a select number of oversized direct ocean units with spectacular views.   The developer units are just about all sold.

One of the best most desirable spaces available in the Beach House of the South Tower.  Unit S304. (Our Listing) It offers incredible direct ocean views with a corner wrap around balcony. The views and feeling of this unit are as if you are in your own private Beach House directly on the ocean.  2165 sq.ft. under air. This unit has just been reduced to $1,699,000.  This is an incredible property.  Over 2100 sq.ft., 3 bedrooms 3 and 1/2 baths  direct ocean views, in one of the most sought after luxury buildings in Miami Beach offered at $785 per sq.ft.

There are great buying opportunities for condo-hotel units in the center tower starting at about $300,000 for one bedroom completely finished suites.  The demand for hotel rooms and rentals of condos has been extremely strong this past winter.  As word of mouth and news coverage spread, people from all over the world have been attracted to Canyon Ranch Miami Beach because of the outstanding amenities and incredible property. We personally, do quite a lot of business at Canyon Ranch with our own listings as well as other properties available.  There is a one bedroom condo unit on the 11thfloor (our listing) 920 sq.ft., offered for $359,000.

Here is a link to all of our listings at Canyon Ranch.  On the right side of the page, click on Featured Listings. Here is a listing of all the Canyon Ranch units for sale

Canyon Ranch is a wonderful relaxing escape in Miami Beach and popularity continues to increase.  I anticipate that in the coming months sales activity will continue to increase.

Filed Under: Amazing Views, Best of the Best Oceanfront Condos, Buying Real Estate, Canyon Ranch, Deals, Miami Oceanfront Condos, Wellness and Healthy Living Tagged With: , , ,

Canyon Ranch Miami Beach- Condo Sales Activity

March 12, 2010 By

View from Center Tower Condo Hotel unit C506

Canyon Ranch Miami Beach, remains to be one of my favorite projects in South Florida.  The amenities and zen like environment make this a very special place.

The condo activity of late has picked up.  Since Lehman Brothers has taken over the remaining inventory, prices have been reduced and this has sparked and increase in sales.  The pricing for the condo hotel units are as low as $325,000 for a 720 sq.ft. one bedroom one bath suite, non ocean view.  There are a few direct ocean condos and condo hotel units also available at very aggressive prices.  Prices have not been adjusted in the North Tower.

For resales, there have been 7 closed sales in the last 6 months.  I have been representing buyers and seller for three  of those sales.  Prices per square foot for resales are at a low of $405 sq.ft. to a high of $788 per sq.ft.  Variance in price is directly connected to view, floor plan, finished or unfinished, and whether the unit is eligible to be in the condo-hotel program.

I represent several units for sale at Canyon Ranch in varying price ranges.

In the South Tower Beach House, there is a spectacular unique space for sale Unit S304.   2200 sq. ft. 3 bedroom direct oceanfront unit. This unique space has high ceilings and a tremendous wrap around balcony.  Asking Price $1,790,000.  I also have for sale a great one bedroom finished suite with direct ocean views with the option to place the unit in the condo hotel program.

For those that appreciate the Canyon Ranch lifestyle, there are condo buying opportunities in every price range.

View from South Tower 304 Direct Oceanfront Unit


Oceanfront Yoga Studio

Canyon Ranch Restaurant

Filed Under: Amazing Views, Canyon Ranch, Miami Oceanfront Condos, Wellness and Healthy Living Tagged With: , , , , ,

Statistical Look at 7 Luxury Oceanfront Condos

June 14, 2009 By

Luxury Oceanfront Condos along the coast in South Florida vary immensly.  Each building has its own character as does each neighborhood and each city, and those variances are reflected in the price.   Worldwide attention is focused on oceanfront condos in South Florida as the price swings have been reported around the world.   To summerize our market we like to provide our readership with statistics and data.

I have selected 7 very different luxury oceanfront condos along the coast to take a look at. These 7 condominiums are all relatively new and represent a cross section of oceanfront condos along the coast.   Continuum in South Beach, Canyon Ranch in Miami Beach, One Bal Harbour in Bal Harbour, Turnberry Ocean Colony in Sunny Isles, Ocean Palms in Hollywood, The Palms in Fort Lauderdale, and The Excelsior in Boca Raton.

The information provided addresses, number of closed sales, $ per square foot, average $ of asking price, number of units currently under contract (pending), and total number of units for sale in each building.

Filed Under: Boca Raton Oceanfront Condos, Buying Real Estate, Canyon Ranch, Condo Statistics, Continuum South Beach, Fort Lauderdale Oceanfront Condos, Miami Oceanfront Condos, Ocean Palms Hollywood, One Bal Harbour, Palm Beach Oceanfront Condos, The Excelsior-, The Palms Tower I & II, Turnberry Ocean Colony Tagged With: , , , , , ,

Canyon Ranch Miami Beach-Living The Ultimate Healthy Lifestyle

December 28, 2008 By

All new luxury oceanfront condominiums in South Florida offer an array of amenities.  For some buildings the amenities are very basic and for others quite extensive.  There is one new oceanfront condo building in Miami Beach, Canyon Ranch that really takes the entire oceanfront condo living to a new level.

Many of the purchasers of condos in the new Canyon Ranch Miami Beach, have had the good fortune of experiencing one of the other Canyon Ranch locations.  The “Ranchers” as they have been called,  have enjoyed the all encompassing lifestyle that Canyon Ranch delivers. Now, to be able to own a condo in Miami Beach and immerse oneself in a comprehensive healthy lifestyle … well, that combination is a real winner.

Canyon Ranch hotel and spa opened very recently.  Here is a sampling of what residents can experience every single day:

Here are condo units for sale at Canyon Ranch,.  In addition to the condominiums for residents, Canyon Ranch Miami Beach also has a full service luxury hotel.  Condominium owners benefit by having full access to all the amenities of the hotel including concierge service, restaurants, room service and maid service.

Condominiums and condo hotel units are for sale in all price ranges starting in the $400,000 to well over $3.7 million.  There are also 6 month and one year rentals available at Canyon Ranch.     

We put together a short video to offer an overview of Canyon Ranch Miami Beach South Tower, Carillon Tower, North Tower and overview of the Canyon Ranch Miami Beach facility. 

Filed Under: Canyon Ranch, Miami Oceanfront Condos, Uncategorized, Wellness and Healthy Living Tagged With: , , , ,

Canyon Ranch Miami Beach-Opening Soon

August 6, 2008 By

Construction at Canyon Ranch in Miami Beach is in the final stages. Residents are occupying the South Tower and the North Tower and Carillon will begin closings shortly. The hotel is taking reservations for October.

There is a great deal of excitement in the air about the opening of the amazing spa facility. Here is a little blurb that appeared in this month’s INSTYLE magazine ……

Canyon Ranch Spa

Canyon Ranch Spa

Filed Under: Canyon Ranch, Miami Oceanfront Condos, Wellness and Healthy Living Tagged With: , ,