Oceanside Pompano Beach Condo Sales
Since my Market Report in March and since The Plaza at Oceanside’s Bulk Purchase in December, the number of closed Sales has increased significantly and, to date in 2010, purchases of 31 Units have been recorded in Broward County Property Tax Records.
The purchase price range of the Units purchased was $365,000 – $1,600,000 and the purchase dates are indicated as January 8, 2010 – June 29, 2010.
- 7 Units were purchased for under $400,000
- 10 Units were purchased from $401,000 – $475,000
- 5 Units were purchased from $570,000 – $585,000
- 3 Units were purchased from $608,000 – $655,000
- 1 Unit was purchased for $740,000
- 3 Units were purchased from $863,000 – $850,000
- 1 Unit was purchased for $1,185,000
- 1 Unit was purchased for $1,600,000
The current price reductions for the Developer owned Units represent more than a 65% discount off of the highest purchase price previously. The current price range of Units listed for sale is $400,000’s – $1,200,000.
It’s a beautiful Building of Contemporary Design and has fabulous Amenities (40,000 sq ft of Amenities include: Tennis Courts, State of the Art Fitness Center, Spa with Saunas and Massage Treatment Room, Golf Simulator, Billiard and Games Room, Movie Screening Theater, Wine Tasting Room, Cigar Humidor, Media Center, News Cafe, Teen Lounge, Children’s Playroom). View additional details about Oceanside Pompano Beach Condo and contact me if you would like to schedule an appointment to view Units or would like additional information.
Related Information
Jimmy says
This mean that as of August 2010, only 83 of 186 units have beeen sold. When I looked at the building back in April, an onsite sales rep named Marijke told me that they were inundated with so much activity that they would be sold out and gone from the building by October 2010. That’s about 7 weeks from now. Fat chance. They have sold only 29 of the 131 units that were available to be sold when they bought the building.
The pricing in that building remains too high, and the threat of insanely high maintenance and other fees are a killer. Add to that the lack of beach access, and the ugly view of worn out rooftops, and you have a beautiful building with issues that scare people off.
I loved the building, but the dirty roofs, noisy streets, and soon-to-come huge upkeep maintanence fees are a deal killer until thyese units drop into the mid 300’s for a 2 bedroom end unit.
Vickie Arcuri says
Hello Jimmy, at the time that I wrote the post, Broward Property Tax Records indicated that 31 Units have been purchased this year. I don’t doubt at all that the Sales Office at the Building has been inundated with a very high level of activity, and though sales have increased significantly in the market overall, lookers and Buyers are two very different things.
Florida, particularly South Florida, remains number 1 in the U.S. for the number of sales of vacation property to Domestic and Foreign Buyers so the level of interest is always very high. Prices that are significantly reduced from peak prices of several years ago have helped to increase interest even more. Additionally, there are MANY Waterfront Condos in MUCH, MUCH older Buildings that are currently selling for the prices that the Condos in this Building are offered for. Besides, here in Broward County, particularly in this area of the County, we have very few Waterfront Buildings that are new (by “new”, I’m referring to Buildings that are ~1-2 years old that have Units available that haven’t been lived in), so there isn’t much competing inventory.
Even though price reductions would likely increase sales, I think that, much more than price, the issues at the Building that have kept sales lower than expected are:
1. The threat of increased Maintenance Fees in the future (which you mentioned) because people don’t believe they will be kept at .42 cents PSF. At most new Condos that offer this level of Amenities, the average Maintenance price per square foot starts around .70 cents (this post includes information about Condo Maintenance Fees https://southfloridahomespot.com/2010/05/14/average-cost-of-condo-amenities/ )
2. Interested Buyers’ concerns with what’s going to be built across the Street in the distant future
There are gorgeous views from many of the Units on high Floors and the Beach is right across the Street, so I’m not sure if those 2 issues are overwhelming reasons for more Units not selling than have already been sold.
By “noisy streets”, what are you referring to? I’ve never noticed a high noise level on the streets. Sure, there’s noise, but I’ve never noticed anything other than the normal level of street noise. I live in Pompano Beach, have visited the Building many times, spent time on the Beach, and have eaten at Houston’s Restaurant (right by Oceanside Condo) often and there wasn’t unusual noise. There was recent Construction work on the Intracoastal Bridge by the Building, so maybe that’s what you heard or maybe there was an event at the time that you visited (such as the Annual Seafood Festival)? Regarding the noise of traffic of A1A from the Condo, the Condo’s Windows and Doors are Impact Glass, so when you’re inside with the Doors and Windows closed, traffic noise is almost non-existent.
Yes, it’s most definitely a beautiful Building and one of my favorites so far as the contemporary design, fabulous Amenities, and Residences.
Vickie Arcuri says
October, 2010 Sales update for The Plaza at Oceanside Pompano Beach Condo:
https://southfloridahomespot.com/2010/10/15/recent-purchases-in-the-plaza-at-oceanside-pompano-beach/