January 3, 2013
Last year we saw luxury waterfront condos and seaside estates selling at higher prices than ever expected. Many real estate investors think that 2013 is going to be an even better year.
We are already seeing record breaking sales. Some of those sales took place at the very end of 2012, but are a good sign of things to come. In December, three luxury oceanfront estates and an adjacent landlocked parcel were sold for a grand total of one hundred and thirty million. The three properties are located on Blossom Way and are right next door to each other, according to the deeds recorded by the Palm Beach County Clerk’s office. The two separate buyers of the properties were listed on the deeds, and are both Delaware-based limited liability companies.
Luxury Oceanfront Condominium Market
This past year luxury oceanfront condominiums were selling faster than they could be built, and it looks like this trend is continuing.
One of the recent sales in Miami took place at the Capri condominium in South Beach for over five million. The listing price of this luxury 3-bedroom, 3-bathroom unit was $6.9 million.
One of the higher priced sales that took place recently is a 5,803 square-foot penthouse unit located at The Setai South Beach. This fabulous unit sold for twelve and a half million. The luxury oceanfront home was originally purchased by Netscape founder Jim Clark in 2004 for nine million.
The latest luxury oceanfront penthouse to go on the market is located at the Mansions at Acqualina on Sunny Isles Beach. This exquisite penthouse just came on the luxury real estate market for fifty five million. The 15,000 square-foot duplex unit is the second most expensive luxury listing in Miami. The six-bedroom, eight-bathroom unit was furnished by Fendi Casa, and features a theater, private elevator, wine room, billiard room, an indoor pool, a “sky garden, waterfall and glass pool overlooking the ocean.
It looks like this is a great time to sell a luxury oceanfront condo or waterfront estate.
Source: Palm Beach Daily News
