November, 2010 Luxury Condo Purchases in Broward County
During the month of November, 36 Luxury Condos were purchased in a price range of $500,000 – $1,550,000. 26 of the 36 sales are indicated to have been Cash purchases. Note for comparison purposes: in the purchase price range under $500,000, there were 1,165 Condos purchased in Broward County during the month of November 2010.
- The Condo purchased for $1,550,000 is Unit 2304 in Trump Hollywood on the 23rd Floor, a 3 Bedroom, 3.5 Bath Residence with a Family Room, 3,830 total Square Feet, and 3,395 Square Feet of Living Area, featuring direct Ocean and Intracoastal views
- 31 of the 36 properties purchased are Waterfront Properties (located Intracoastal front, Oceanfront, Riverfront in the Las Olas area, and on Ocean Access Canals)
- 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
- 4 of the Properties were purchased as Short Sales
Pictured below is a Condo that was purchased for $1,212,500 in Ocean Palms Condo on November 12, 2010
- Unit #2208 in Ocean Palms Oceanfront Condo in Hollywood
- Purchased for $1,212,500 on November 12, 2010
- 3 Bedrooms and 3.5 Baths
- Has a private Elevator
- Unit 2208 is the Atlantic Model, which is the largest Floor Plan in the Building, the direct Oceanfront Model with 3,091 Square Feet of Living Area and 3,604 total Square Feet
- Monthly Maintenance Fee = $1,800
Ft. Lauderdale Properties Sold
Casa Bella of Coral Ridge, Enclave at Victoria Park (2 Units sold), L’Hermitage (2 units sold), Lago Mar Place, Las Olas Beach Club (2), Las Olas River House, Plaza South, Point of Americas, Sapphire (2 units sold), and The Palms
Pompano Beach Properties Sold
Riverside Townhome
Lauderdale by the Sea Properties Sold
Sea Ranch Club (4 Units sold). Note: the 4 Units sold are located in 3 Buildings at Sea Ranch Club Condo, which were built between 1977 and 1982. Their purchase price range was $500,000 – $575,000. 3 of the 4 Units are completely updated and they range in size from 1,443 Square Feet – 1,900 Square Feet. These purchases are a perfect example of highlighting the fact that even in Oceanfront Buildings that are old, the value is still there because of their Oceanfront location. It is clear that new Condos selling within similar price ranges are selling at prices that are very discounted from the peak prices of several years ago and are terrific deals.
Hollywood Properties Sold
Diplomat Oceanfront Residences (2 Units sold), Harbor Islands, Ocean Palms (6 Units sold), Villas of Positano, and Trump Hollywood
Hallandale Properties Sold
Beach Club Condo (6 Units sold)
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