Recent Sales in Coconut Grove Oceanfront Condo
Since my previous Market report, 3 additional Units have been purchased in Coconut Grove Oceanfront Condo as follows:
- Unit 803, purchased for $1,150,000 on May 31, 2011 (3 Bedrooms and 3.5 Baths)
- Unit 904, purchased for $900,000 on June 30, 2011 (2 Bedrooms and 2.5 Baths)
- Unit 101, purchased for $439,000 on May 6, 2011 (1 Bedroom and 1.5 Baths)
Pending Sales
2 Units are under Pending Contract for purchase, Units 1003 and 601.
Units for Sale
Of 63 total Units in the Building, 11 are currently listed for Sale. The 11 Units are Resale Units and the Developer Owned Units have all been purchased (Units 803 and 904 that were purchased in May and June were the last of the Developer owned Units).
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.
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Ft. Lauderdale’s New Oceanfront Condo Market
Within the last 4 years, Coconut Grove is the only new direct Oceanfront Condo that was constructed in Ft. Lauderdale. Within the last 13 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, which were built between 1998 – 2003. 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: