Luxury Oceanfront Condominiums- Bank Owned Great Deals !

Bank owned properties for the most part are opportunities priced below market and deals that can close very quickly for cash buyers.  There are just a few luxury oceanfront condominiums on the market that are bank owned.  Condominiums come on the market periodically but there are not that many.

Here are a few outstanding luxury units on the market today.

The Icon in South Beach, there is a 4300 square foot unit on the 18th floor, 3 bedrooms 4 baths with an asking price of $2,200,000.  Asking price $511 square foot. Unit 1901 closed recently for $694 square foot, although only 2100 sq.ft.

The Residences at the Bath Club, just under 3000 square feet on a low floor. 2 bedrooms 3 and 1/2 baths with an asking price of $1,773,900. Asking price $599 square foot. Recent closed sales, although on higher floors were in the low to mid $600’s sq.ft.

Setai Resort South Beach, 1141 square feet 2 bedroom 2 baths on a high floor. Asking price $1,100,000.  This is the only unit at the Setai with an asking price under $1000 square foot. This is one of the highest priced properties along the coast.

For large square footage, direct oceanfront condominiums in a newer building with great amenities there is a bank owned unit at the Beach Club that is an attractive buy.

Beach Club in Hallandale Beach, 37th floor over 2000 square feet 3 bedrooms 3 and one half baths direct ocean with wrap balcony. Asking price $629,900. That is only $303 per square foot !!!! Tremendous.

These select units are current bank owned units in great buildings priced below market.  Again, they are far and few between !

Educated buyers have learned the hard way that pursuing short sale properties are a shot in the dark and many who have tried have waited months and months to find out the deal will never close.  Meanwhile great opportunities by motivated sellers or even bank owned units came on the market and sold.  As I have written, phenomenal deals have been made between motivated sellers and cash buyers !!!

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