Bal Harbour is one of the most exclusive oceanfront condominium and luxury home communities along the coast of South Florida. You know you are in Bal Harbour the minute you enter the town. The streets are lined with beautifully manicured Royal Palms and the city is immaculate. Â The renowned Bal Harbour Shops,in the heart of the town, hosts the finest stores in the world with a collection of more than 100 designers and specialty boutiques.
There are several luxuryÂ oceanfrontÂ condominiums in Bal Harbour such as The Palace built in 1994, Bellini build in 2004, Majestic Towers built in 1999, and One Bal Harbour built in 2007. Â These fine condominiums offer spacious elegance directly on the ocean. The premier condominiums within in these building run from $2.5million to well over $5 million. The average recently reported sales price averages around $1000 per sq.ft.
In today’s market along the coast in South Florida, the price per square foot for an oceanfront condominium ranges from around $300 per sq.ft. to around $1000 sq.ft. depending on location and building.
Now let’s take a look at the St. Regis in Bal Harbour. You can see the three towers currently under construction from miles away. The expected completion date is fourth quarter 2011. Â This property is offering an ultra luxury lifestyle on over 9 acres of oceanfront real estate. Â Residents will be able to take advantage of the amenities and services at The St. Regis Bal Harbour Resort known for their 5 star white glove service.
The owners of a residence at St. Regis will also have their own devoted St. Regis Butler on call.
The residences range from the smallest unit at 1777 sq.ft. to the largest single residence at 3,884 sq.ft. Â Units can and have been combined for a larger living space. Prices start at $1,975,900. The direct oceanfront highly desirable units are offered as high as $6,987,000. Â That equates to just under $1800 sq.ft.
In the current market, you may wonder have any sold in the $1500-$1800 per square foot price range? Â The answer is many. I am working with a client interested in a corner direct ocean unit, and according to the developer many of those most desirable units have already sold.
The ultra luxury high end market is alive and active.