Tag Archives: Jade Penthouses

JADE Beach & JADE Ocean Condo Sales, Stats & Inventory for October 2009

What’s new & happening in this month of October? Where are sales today at JADE Beach & JADE Ocean? What’s up with the FDIC, Starwood and Jade Ocean uncertainties? Who’s buying today and are there any JADE Penthouses left? How’s the overall Sunny Isles Beach real estate market? We’ll be exploring these questions and the monthly statistics for Jade Condos Sunny Isles.

JADE Beach & JADE Ocean Condo Sales, STATS & Trends

Well, it’s official in Starwood Capital Group acquiring Corus bank assets in which Starwood has a 40% stake created by the FDIC to hold the assets of failed Corus bank, including thousands of South Florida condos. The FDIC is keeping the other 60% stake in the non performing construction loans and real estate assets that have unpaid principal balances of about $4.5 billion. Only 1 South Florida project was in good standing with Corus bank and I would guess it to be Jade Ocean.

The South Florida projects with loans in the hands of the FDIC now include Jade Ocean Condominiums in Sunny Isles Beach, Paramount Bay in Miami, Trump International Hotel & Tower in Fort Lauderdale and the Edge Condominium in West Palm Beach. – SF Business Journal

FDIC is holding the strongest hand! JADE Ocean condos are of very little concern in this matter and a small piece in this real estate asset pie as the development is 99.9% completed, TCO in place and speculators are lined up closing weekly along with new buyers coming through each day showing serious interest. I do know of one friend who was scheduled to close and the FDIC stalled it asking to review the file and final negotiations although as per the representative at JADE Condos, closings are being scheduled each week and all but a few trophy Jade Ocean Penthouse condos remain from $4 to $7M.

JADE Beach Condo Sales & Rentals

Jade Beach developer condos have almost sold out after 1 year of occupancy. There are 35 (14%) JADE Beach resales ranging in values from $539,000 (Low Floor B Model) to a new penthouse listing at $4.8M (2 Story Jade Beach Trophy Penthouse). 3 JADE Beach condo sales have been reported on the MLS with values from $468k (B1 Model) to $1.385M (E Model) or about $478 per square foot! A new pricing trend and precedence has been established. The average JADE Beach list price per square foot is reflecting $636 PSF down 8% from March’s hopeful highs.

Jade Beach Rentals are picking up especially with season among us reflecting 14 recent Jade Beach condos ranging in rented values from $2,000 (#1603 & #1107, B1 deal) to $5,000 (#3105 & #905). 4 Jade Beach rentals are currently under contract with asking prices ranging from $2,600 (#1106) to $5,800 (#4104) while 29 rentals remain active ranging in asking prices from $2,500 (06 line as B1 models) to $10,000 (#3608). We should see more rentals turn over within the next few months.

JADE Ocean Condo Sales & Rentals

JADE Ocean is almost too early to report on since few condos have been relisted and too few listing agents seem to know how to implement the correct building address (17121 Collins Ave.) and or photos of which building is which. In doing a cross check using the development search of “Jade Ocean” there appear to be 5 condos for sale with a high price on a high E line unit finished out to perfection. With an asking price we’re watching closely at $2.475M reduced $520,000 from last months $2.995M (~$771 PSF), I can’t see paying an extra Million for something obtainable at Jade Beach. This is the critical curve that will be dissected over the next year as Jade Ocean was sold out on the higher price point and noting drastic adjustments to what IS market value.

There are 2 Jade Ocean rentals listed (via MLS) correctly and the prices are ranging from $3,400 (B1 model) to $5,000 for a high floor 2 bedroom (1600SF) with Den.

Sunny Isles Beach Luxury Condo Sales Statistics

Sunny Isles Beach condo inventory is trending downward consistently each month by 3 to 4% with 1,170 condos for sale and 47 closing in the last 30 days (24.8 month supply). This year 480 Sunny Isles Beach condos have sold via MLS database with an average sale price per square foot at $231. In a contrast comparison of luxury oceanfront condos specific to Collins Avenue, we see  842 condos for sale with 28 closing in the last 30 days. This year 179 oceanfront condos have sold via MLS. If we take only the top 10% of 2009 sales we find an average sales price per square foot of $618 and an average asking price per square foot of $725. Irrelevant statistics to some but I find it interesting…

The top Sunny Isles Beach condo sales of September and the first half of October were at Acqualina with PH4506 selling at $4.999M ($778 PSF), Trump Palace #1009 selling at $2.875M ($710 PSF) and lastly Turnberry Ocean Colony which sold ALOT of bargain priced inventory (16 condos have sold at Turnberry Ocean Colony in the last 30 days)!  The final luxury condo sale was at Jade Beach climbing the charts on the $1.385M ($431 PSF) & $1.2M ($493PSF) sale!

The truth is in the numbers 1.888.383.7326 or direct 786.273.7326.

JADE Ocean Condos for Sale | JADE Beach Condos for Sale & Rent

Jade Ocean Model

JadeCondosSunnyIsles.com Affiliations, Progress and JADE Penthouses

Hello friends, I’m writing today to simply relay I am NOT affiliated with the developer, but
JADE Beach Condos

JADE Beach Condos

instead, an independent sales associate and JADE website reporting on my understanding, thoughts and opinions of JADE Beach & JADE Ocean Condos. Just the other day I received an email from the developers attorney telling me to cease & desist the advertising and JADECondosSunnyIsles.com website. Just after that, the JADE Sales Director called… I must say each of them was very friendly and

helpful. We agreed the disclaimer was necessary informing you there is no affiliation whatsoever and any of this information may be inaccurate should the developer say differently. There attorney took care of the Disclaimer (you can find it at the bottom of the website) and now everyone is happy.

As for the JADE Beach development, It’s coming along quite well with 49% already closed and many more closing each week. Each time I enter the lobby, I see more and more happy thrilled new JADE buyers along with an exceptional staff that goes above and beyond to service each and every visitor. JADE Sunny Isles is truly one of a kind. I will have new photos of the lobby and amenity areas very soon. A Brilliantly design and uber modern development awaits you here with prices starting in the $700’s. The pool hasn’t yet opened so the seagulls are taking full advantage enjoying the warm aqua blue waters.

The Ultimate Penthouse. I was informed the JADE Beach Penthouses have all sold out and range from $5 upwards to 10M. The majority of my readers will probably be thinking these prices are extreme but not quite extreme as the JADE Penthouse itself. I assure you there is nothing like the JADE Penthouses ever seen and they are trophy properties. For the elite buyer ready to celebrate your successes, look no further for a very rare Penthouse of South Florida. I do have news that JADE Ocean has a few select JADE Ocean Penthouses upwards of $8 to 13M, far superior to the JADE Beach Penthouse, and still available. I expect these to appreciate significantly once finished out both the JADE Ocean building and interior JADE Ocean Penthouse residence. Look for a new JADE Blog posting related to these unique Penthouses coming soon!

If you own at JADE Beach or JADE Ocean and would like to sell, I ask you to preview JADECondosSunnyIsles.com and interview with me on an effective global marketing plan. This authority site is brand new and still rough around the edges yet quickly gaining in top search engine positioning and will be the ideal worldwide showcase site for your JADE Condo Listings. If your thinking of becoming a new successful owner of JADE Beach real estate then contact me for today’s great JADE Beach Condo Deals including 1, 2, 3 & 4 Bedrooms. To subscribe to this new JADE Condos Miami resource, use the Really Simple Syndication (RSS) feed or have emails sent directly to you after each new JADE Blog posting. To do this, it’s easy, just click the link found in the upper right corner. For more information, call us toll free at 1.888.383.7326 or email at Info@JADECondosSunnyIsles.com