….maybe in the near future!
The South Florida Business Journal recently reported that an affiliate of The Related Group purchased a 2.3 Acre Oceanfront site at 1116 N. Ocean Blvd. in Pompano Beach for $6.25 Million. The Builder hasn’t yet announced any plans for development of the site, but I’m excited to hear news about their plans and I will post future updates, of course.
The newest “Oceanfront” Condos in Pompano Beach are Sonata Beach Club and the Plaza at Oceanside Pompano Beach, both of which are almost sold out, and neither of which are directly on the Sand.
Although development plans haven’t been released for the Pompano property that was just purchased, The Related Group has just announced Construction plans for 2 new Condos in Hallandale Beach and downtown Miami, so new Construction of Condos will be starting soon (construction of Apogee Beach in Hallandale Beach is tentatively scheduled to start next month.)
In the current South Florida Market, sales have significantly increased and have actually surpassed the number of properties that were sold during the peak of the Market in 2005. Buyers who are just now entering the Market and interested in Oceanfront Condos in South Florida (and other Condos that are located East and/or Waterfront) are discovering, to their dismay, that many properties previously available have already been purchased, including many of the lowest priced deals.
Because Inventory of new Oceanfront Condos is limited and dwindling rapidly, thanks in large part to purchases by International Buyers and Buyers located in North areas of the U.S., I welcome the addition of new Inventory.
Related Information: