September 2011 Sales of Luxury Condos in Broward

Luxury Condos and Townhomes Purchased in Broward County

in September of 2011

During the month of September, 2011, 38 Luxury Condos and Townhomes were purchased in a purchase price range of $500,000 – $1,250,000 in Broward County. The properties that sold are located in the Cities of Ft. Lauderdale, Hallandale Beach, Hollywood, Lauderdale by the Sea, Pompano Beach, and Deerfield Beach.

Note for comparison purposes: In the purchase price range under $500,000, there were 1,276 purchases of Condos in Broward County during the month of September.

Additional details about the properties that were purchased

Building and Unit	Year Built	Purchase Price	Purchase Date	Bedrooms	Waterfront?
THE PALMS TOWER TWO, Unit 20E	1999	1,250,000	9/16/2011	3	Oceanfront
LAS OLAS RIVER HOUSE, Unit 510	2005	1,100,000	9/1/2011	3	Riverfront
Alhambra Place, Unit 901	2002	1,100,000	9/2/2011	3	Intracoastal
CRISTELLE CAY, Unit 6A	2005	1,050,000	9/7/2011	3	Oceanfront
Ritz Carlton Ft. Lauderdale, Unit 1807	2006	1,000,000	9/12/2011	2	“Oceanfront”
Las Olas Beach Club, Unit 1502	2007	950,000	9/12/2011	3	“Oceanfront”
LAS OLAS RIVERHOUSE, Unit 2802	2005	950,000	9/13/2011	3	Riverfront
ORCHID BEACH, Unit 406	2006	920,000	9/29/2011	3	“Oceanfront”
HILLSBORO BAY BY THE SEA, #1770	1999	900,000	9/30/2011	3	Oceanfront
Diplomat Oceanfront Residences, Unit 1506	2007	$850,000	9/27/2011	3	Oceanfront
BEACH CLUB TWO, Unit 2501	2006	811,200	9/23/2011	3	Oceanfront
THE BEACH CLUB, Unit 4403	2005	751,000	9/19/2011	2	Oceanfront
Point of Americas 1, Unit 1906	1970	750,000	9/30/2011	3	Oceanfront
Sapphire Condo, Unit 704S	2009	748,000	9/12/2011	2	“Oceanfront”
Beach Club, Unit 901	2005	690,000	9/21/2011	3	Oceanfront
Santa Barbara Estates, #2142	2009	690,000	9/26/2011	3	Canal
Santa Barbara Estates, #2136	2009	690,000	9/22/2011	3	Canal
BEACH CLUB TWO, Unit 3406	2006	680,000	9/30/2011	3	Oceanfront
VUE RESIDENCES, Unit S1405	2005	675,000	9/15/2011	3	“Oceanfront”
BEACH CLUB THREE, Unit 3403	2007	655,000	9/12/2011	3	Oceanfront
Sapphire Condo, Unit 1004S	2009	650,000	9/1/2011	2	“Oceanfront”
SONATA BEACH CLUB, Unit 904	2008	650,000	9/30/2011	2	Oceanfront
DIPLOMAT OCEAN FRONT, Unit 1704	2007	629,000	9/7/2011	2	Oceanfront
Jackson Tower, Unit 1801A	2001	600,000	9/7/2011	3	No
Oceanside Pompano Beach, Unit 1103	2007	575,000	9/7/2011	3	“Oceanfront”
BEACH CLUB THREE, Unit 2610	2007	590,000	9/7/2011	2	Oceanfront
BEACH CLUB THREE, Unit 2603	2005	580,000	9/12/2011	3	Oceanfront
SONATA BEACH CLUB, Unit 404	2008	573,500	9/16/2011	2	“Oceanfront”
LAS OLAS GRAND, Unit 1402	2005	560,000	9/9/2011	2	Riverfront
POINT OF AMERICAS, Unit 207	1970	550,200	9/30/2011	2	Oceanfront
Point of Americas, Unit 206	1971	537,500	9/28/2011	2	Oceanfront
LAS OLAS GRAND, Unit 2104	2004	500,000	9/2/2011	2	Riverfront
Terraces of the Isle, Unit 2	2005	500,000	9/13/2011	3	Canal
Trump Hollywood – Oceanfront	2009	5 Units sold with purchase prices of $651,800 – $787,500

Of the 38 properties that were purchased, 30 were Cash sales, which are typical in the current South Florida Real Estate Market
The Units range in size from 1,630 – 4,198 Square Feet of Living area and have an average size of 2,440 Square Feet of Living Area
Regarding Waterfront Condos, the Term “Luxury” is relative because prices vary significantly based on views from the Unit, low Floor vs. high Floor, quality of the Building, type of Waterfront location, and other factors, so it’s possible, in some cases, to pay a luxury price for a Unit that’s in need of complete updating and/or remodeling because the price reflected fabulous views, larger size, and/or other features that demand premium price
2 of the properties were purchased as Bank Owned Foreclosures, Unit 1704 at Diplomat Oceanfront Residences and Unit 207 at Point of Americas. Both Units were purchased for prices that were ABOVE their listed prices, which is typical.
5 of the properties were purchased as Short Sales