Within the last 30 days, there were two reported closed sales in Broward County for luxury oceanfront condos that each sold for almost $1 Million less than the asking price. There are buying opportunities now in all price points.
As I have written before, great buying opportunities exist when a building is being completed and the developer offers the last of their units for sale. Quite often the developer holds back the most desirable units until the other units are sold. A huge reduction off the asking price was recorded for a sale at the Las Olas Beach Club. It was a developer unit that had an asking price of $3,500,000. The unit has 4,466 square feet under air and 6,403 with balconies, 4 bedrooms 3 and one half baths. It was sold for $2,500,00. Units available for resale at Las Olas Beach Club. That calculates to $559 sq.ft. Sales in Las Olas Beach Club have ranged from $411 sq.f.t to $562 sq.ft.
The other $1 Million reduction was at the Villas of Positano. This unit was being offered for $4,600,000 and sold for $3,550,000. It was 5,040 square feet under air and over 6,000 square feet with balconies. It has 3 bedrooms 3 baths and 2 half baths. This is a corner unit directly on the ocean. Units for sale at Villas of Positano. Square foot prices for closed sales have ranged from $345 to this sale which calculates to$704 sq.ft.
Tags: Fort Laudedale Oceanfront Condo, Hollywood Oceanfront Condo, Luxury Oceanfront condo reduced price, south florida oceanfront condo sales
