January, 2011 Luxury Condo and Townhome Purchases in Broward County
During the month of January, 2011, 36 Luxury Condos and Townhomes were purchased in a purchase price range of $500,000 – $3,165,000 in Broward County. 31 of the 36 sales are indicated to have been Cash purchases, which is typical in our current market, particularly in the Condo market, where Cash purchases currently represent ~80% of all purchases.
The properties are located in the Cities of Ft. Lauderdale, Hallandale, Hollywood, and Pompano Beach.
Note for comparison purposes: In the purchase price range under $500,000, there were 1,562 purchases of Condos in Broward County during the month of December.
Additional details about the properties that were purchased
- 33 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
- 4 of the Properties were purchased as Bank Owned Foreclosures
- 4 of the Properties were purchased as Short Sales
The top 10 Sales were:
- Unit 3602 at Trump Hollywood Condo, purchased for $3,165,000.
- Unit 1204 at Trump Hollywood, purchased for $1,465,000.
- Unit 4F at Villas of Positano Condo, purchased for $1,175,000.
- Unit 1212 at Point of Americas Condo, purchased for $1,100,000. Note: Built in 1970! (Oceanfront property holds its’ value well).
- Unit 7-12 at The Plaza at Oceanside Pompano Beach Condo, purchased for $869,000
- Unit 2602 at L’Hermitage Condo, purchased for $850,000
- Unit 901 at Trump Hollywood, purchased for $830,000
- Unit 403 at Coconut Grove Residences Condo, purchased for $800,000
- Unit 2745 at Aqua Lofts Townhomes, purchased for $773,000
- Unit 2406 at L’Hermitage, purchased for $$750,000
Ft. Lauderdale Properties Sold
Four Seasons, L’Ambiance, L’Hermitage, Las Olas River House, Coconut Grove Residences, Plaza East, Jackson Tower, The Palms, Las Olas Grand, Point of Americas, Sapphire Condo, and Marbella Townhouse.
Pompano Beach Property Sold
The Criterion, Aqua Lofts, Renaissance I, and the Plaza at Oceanside Pompano Beach.
Hollywood Properties Sold
Villas of Positano and Ocean Palms.
Hallandale Properties Sold
4 Units sold in Beach Club Condo in Towers 1, 2, and 3.
Related Information: