Turnberry Ocean Colony-Update on Sales Activity













It is always such a pleasure to write about Turnberry Ocean Colony in Sunny Isles.   This oceanfront condominium is one of my favorite buildings to analyze.  The service provided by the staff is exceptional and the amenities offered fulfill everything the residents could want.  Every condo in this building faces the ocean and some of the floor plans offer flow through layouts with west views as well.

Turnberry Ocean Colony consists of the North and South Towers, each hosting only 130 residences in the southern end of Sunny Isles. As of today, there are only 19 units available for sale.  Over the past 12 months there have been 10 reported closed sales in total.  Sold condos ranges in price from a low of $1,210,000 to a high of $2,750,000.  Per square foot prices ranged from a low of $538 to a high of $733.  Many of these units are finished out but some of them are still in their “decorator stages” being resold by original owners that held on since 2008 waiting for the market to improve.
The largest unit available now is the Penthouse on the 32nd floor.  It consists of 5690 square feet under air.  That is an exceptional amount of space. It has 5 bedrooms 6 and one half baths and is listed for $5,940,000.  In November it was listed for $6,780,000.

The least expensive available condo at Turnberry Ocean Colony consists of 2245 square feet,  and has 2 bedrooms 2 and one half baths, and as all units are, it offers direct ocean views. This is a finished unit offered at $1,500,000.  Currently there are 4 units under contract pending closings.
Over the last few years we have seen tremendous swings in all the data.  What we are seeing across the board especially in the ultra luxury market, such as Turnberry Ocean Colony, is that inventories are dramatically reduced, the number of  units sold have increased, the price per square foot is going up.  This is a factor of the continued demand of fine oceanfront properties from around the world.

Turnberry Ocean Colony is a true luxury property and the consistent demand for spacious, direct oceanfront condominiums in premier buildings such as this one,  is going to continue.

Tags: , , , , ,