Market Activity in Coconut Grove Oceanfront Condo
Another Developer Owned Unit was just purchased in Coconut Grove Residences Oceanfront Condo in Ft. Lauderdale.
- Unit #903 (pictured above) was purchased on December 10, 2010 for $1,250,000, a Unit with fabulous views, which I had the pleasure of viewing prior to its purchase
- It has 3 Bedrooms, 3.5 Baths, and 3,201 Square Feet
- The monthly Maintenance Fee is $2,387
Wondering what’s selling in Coconut Grove Condo?
Sales of the Developer Owned Units at Coconut Grove Condo in Ft. Lauderdale are continuing to progress well, despite many predictions to the contrary. Many of you probably remember that an Auction of the remaining Developer owned Units was scheduled in February of this year and was then cancelled 3 days before the scheduled Auction date.
Since that time, 18 Units in Coconut Grove have been purchased (all of which were Developer owned except for 1 Unit). Their purchase price range was $405,000 – $1,950,000. In previous posts in May and in June, I included information about the purchase prices, purchase dates, and Unit numbers of each Residence sold in 2010.
Only 6 Units in the Building are still Developer owned and 1 of the 6 is listed as being under pending contract for purchase (Unit #505, listed for $725,000).
Coconut Grove Condos for Sale
Of 63 total Units in the Building, there are 13 currently listed for Sale (see below), 7 Resales and 6 Developer owned Units.
- Unit #101: 1 Bedroom, 1.5 Baths, listed for $499,900
- Unit #103: 1 Bedroom, 2.5 Baths, listed for $695,000
- Unit #405: 2 Bedrooms, 2.5 Baths, listed for $700,000 (Developer owned)
- Unit #204: 1 Bedroom, 2.5 Baths, listed for $700,000 (Developer owned)
- Unit #202: 2 Bedrooms, 2.5 Baths, listed for $950,000
- Unit #203: 1 Bedroom, 2.5 Baths, listed for $995,000
- Unit #403: 2 Bedrooms, 3.5 Baths, listed for $1,050,000 (Developer owned)
- Unit #904: 2 Bedrooms, 2.5 Baths, listed for $1,075,000 (Developer owned)
- Unit #601: 2 Bedrooms, 2.5 Baths, listed for $1,299,000
- Unit #803: 3 Bedrooms, 3.5 Baths, listed for $1,425,000 (Developer owned)
- Unit #603: 2 Bedrooms, 3.5 Baths, listed for $1,650,o00
- Unit #702: 2 Bedrooms, 3.5 Baths, listed for $2,499,000
- Unit #1201 Penthouse: 5 Bedrooms, 5 Full Baths, and 2 Half Baths in 11,477 Square Feet of Living Area (2 Units were combined to create this Unit, which is why the Building has 63 Units instead of the original 64 Units). Listed for $7,995,000
Even for Units that have the same number of Bedrooms, significant differences exist so far as their size in square feet and Floor Plans. Views are also, obviously, one of the most important considerations. Some Units offer beautiful, direct Oceanfront views without obstruction and others offer very limited Ocean views. In addition to Ocean views, other available views include Intracoastal and City views, which are especially beautiful at night.
Ft. Lauderdale’s New Oceanfront Condo Market
Within the last 5 years, Coconut Grove is the only new direct Oceanfront Condo that was constructed in Ft. Lauderdale. Within the last 12 years, only 4 direct Oceanfront Condos were constructed in Ft. Lauderdale, so inventory of new Condos on the Sand in Ft. Lauderdale is very limited. The other 3 “new” Oceanfront Condos are L’Hermitage, The Palms, and L’Ambiance. There are a few other new Condos that were constructed in the Beach area, but they are across from the Beach instead of directly on it.
Related information: