Tag Archives: Sunny Isles Beach

JADE Beach & JADE Ocean Condo Sales, Statistics & Inventory for August 2010

Sunny Isles Beach Luxury Condo Sales & Statistics

Sunny Isles Beach condo inventory increased last month to 1,127 total condos for sale and 46 closed sales in the last 30 days (24.5 month supply). So far in 2010, 451 Sunny Isles Beach condos have sold via MLS database with an average sale price per square foot at $241 per square foot. In a contrast comparison of luxury oceanfront condos specific to Collins Avenue and over $500k, we see 490 condos for sale with 121 closed sales so far this year averaging a selling price per square foot of $422 psf and selling at 89% of list price. If we take the top 10% of 2010 luxury condo sales, we find an average sales price per square foot of $652 and an average asking price per square foot of $755 psf reflecting an average 13% discount for new buyers in the Sunny Isles Beach luxury real estate market. Last year 161 oceanfront condos over $500k sold via MLS with an average selling price per square foot of $420. The top 10 Sunny Isles Beach luxury condo sales from the last 90 days were found at Acqualina with 2 sales reflecting $784 & $714 per square foot. Turnberry Ocean Colony had 6 sales at $733, $643, $625, $605, $551 & $704 per square foot. JADE Beach #4501 sold at $2M ($645 SP/SF) setting a new record ‘resale’ high..

What are the latest happenings & the very best condo deals at JADE Ocean & JADE Beach Miami in August 2010? Sunny Isles Beach condo inventory has decreased 11% year to date while sale to list price ratios are averaging 94% for the month of July. I’ll explore the fine analytics below and continue educating everyone interested in these modern oceanfront condo towers known as JADE Beach & JADE Ocean. On to the August 2010 JADE Condo details…

JADE Beach Condo Inventory, Sales & Rentals

(17001CollinsAvenue.com) Fortune has sold out of their remaining inventory as of 2010 1Q after almost two years of occupancy and we now have 42 (17% inventory) JADE Beach resales ranging in values from $499,000 (Low Floor B1 Model) to an impressive JADE Beach penthouse ‘Sky Loft’ resale priced at $11.4M (3 Story Jade Beach I line Penthouse). The average JADE Beach list price per square foot is reflecting $646 psf (Down 3% from June) with the average selling price per square foot reflecting $476 at 160 days on market and an 88% sale to list price ratio (12% average buyer discount). JADE Beach condo sales have been reported on the MLS with 9 resale values from $468k (B1 Model at $468 psf) to $2M (E Model at $645 per square foot) setting a new record high in resale values. The inquiries have not ceased on the only JADE Beach short sale #1104D which is still pending short sale approval. I expect #1104 to eventually sell over asking price as $865k may prove to be a teaser price with D line values now ranging in sold values from $990k to $1.4M in 2010. This went pending in December and short sales can take an easy 9+ months!

JADE Beach condo rentals have been in demand as new residents test the local market & JADE Beach lifestyle. To date, 50 Jade Beach condos have rented, ranging in rented values from $2,000 (B1 deals) to $7,000 (#1708); 3 Jade Beach rentals are currently under contract with prices ranging from $2,800 (#1603) to $14,000 (#3608) Note; the owner’s representative at Affinity Realty Group needs to change the status on #3608 as it’s been pending for months now. There are 22 JADE Beach condos for rent ranging in asking prices from $2,850 (03 line as B1 model) to $9,000 (#4005 as D model).

JADE Ocean Condo Inventory, Sales & Rentals

(17121CollinsAvenue.com) JADE Ocean has remaining developer inventory with price points hovering in the $600+’s psf. I believe these to be reasonable market values given the uber luxury product with new County records now reflecting 110 recorded deeds or 44% sold. Please Note: there are more sales than this as Miami Dade County takes forever to record new deeds. Jade Beach took almost 2 years to accomplish a sell out and we’re now entering the 13th month of JADE Ocean acquiring its Certificate of Occupancy. There are 13 Jade Ocean condo resales today with the high price on a spectacular 2 Story Jade Ocean Penthouse “sky loft” listed $5.495M with over 5,000 square feet and 4 bedrooms along with a slightly smaller luxury JADE penthouse priced at $3M with just over 3,700 total square feet, 3 bedrooms and 3.5 baths.. There are only 2 mirrored image Sky Lofts per Model in the JADE buildings and few other penthouses comparable in Sunny Isles Beach. The lowest priced resale today is a B2 model priced at $975k which is 33% over JADE Beach (B2 model) asking values. JADE Ocean’s average asking price per square foot is at ~$757 ($743 psf in June) and today’s buyers are finding the developer inventory most attractive in the $600’s per square foot. Differences in JADE Ocean & JADE Beach will be dissected through photos & video this year while the frequent research shows us true market values with new monthly sales statistics show us the latest sales, facts & trends so please stay tuned.

JADE Ocean condos were sold out on a significantly higher price point offering clear advantages in amenities & lifestyle. It seems as though Fortune, the FDIC & Starwood amended the asking prices and adjusted to Sunny Isles Beach oceanfront market values. The residential low end market is noting considerable price gains as inventory decreases and sales increase under $250k. Talk of sold values going up has been constant across the board along the Miami Dade Beaches… The developer is relaying today’s prices at approximately $600+ psf and hoping to increase prices slowly as sales continue. One thing is for sure, the developer is 100% confident in their product standing firm on current contract negotiations. And why wouldn’t they be firm as JADE Ocean stands among the elite luxury condo towers of Sunny Isles Beach with an enormous International demand.

There are 13 JADE Ocean rentals listed via MLS and the prices are ranging from $3,500 (#1203) to $7,100 for a 3 bedroom (A model). There have been 9 rented condos ranging in values from $2,400 (B1 model) to $6,500 (E Model) to be solid starting figures in a superior building. I believe JADE Ocean will have a very strong finish by the end of 2010 and will make notes as each month shows us new figures.

I’m Available to Market Your Property at JADE

In Miami, it’s not so much the brokerage name recognition as it is in New York but instead more so dependent on the agent or Realtor® you decide to hire to expose your property properly. When hiring someone to sell or lease your JADE condo, look for strong global marketing with local market knowledge and a proven track record selling luxury condos along Sunny Isles Beach. I’m ready to get started and accepting new JADE Condo listings to market globally here and on my many other sites so please visit (5 Step Marketing) me for further details on a superior marketing plan and efficient results whether selling or leasing your oceanfront condo.

In 1Q 2010, I released a new addition to the Sunny Isles Beach condo collection with TurnberryOceanColonySunnyIsles.com website to replicate the fun & success I’ve had with the JADECondosSunnyIsles.com authority site. Price points at Turnberry Ocean Colony dropped approximately 20% in 2009 alone and have shown us sales as low as $1M last year while prices today begin at $1.390M and noting fast turnaround with 4 condos under contract this month. Here you’ll find new updates, videos & monthly statistics at the Turnberry Ocean Colony blog. The original MiamiDreamRealty.com was revamped showcasing the entire luxury Southeast Florida MLS listing database while the JADE Ocean, JADE Beach & Turnberry Ocean Colony MLS database access has now also been revamped. Leave a comment and let me know what’s on your mind regarding JADE Beach & JADE Ocean Sunny Isles or any other luxury condo tower along the Miami Dade County coastline. Enjoy and thank you for visiting!

All figures derived from the Southeast Florida MLS service

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

As the economy begins showing signs of improvement and consumer confidence is on the rise, Jade Beach and Jade Ocean condos are being previewed heavily, sales are occurring and other cautious consumers want to know where the bottom of this market stands and is NOW the right time to buy? Well besides year end tax incentives and only 2 weeks left in 09, 2010 IS a great time to buy. Sunny Isles Beach condo inventory declined 3% in the last month and 14%year to date. I’ll explore the fine analytics further below and hope to continue educating everyone interested in these amazing uber-modern condo towers known as JADE Beach & JADE Ocean.

JADE Beach Condo Inventory, Sales & Rentals

(http://17001CollinsAvenue.com) JADE Beach developer condos have almost sold out after 1 year of occupancy with the 9 remaining hitting the MLS this month at clearance pricing. There are now 41 (16%) JADE Beach resales ranging in values from $539,000 (Low Floor B1 Model) to an impressive JADE Beach penthouse listing at $4.8M (2 Story Jade Beach Trophy Penthouse). 4 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! This seems to be the established pricing trend for Jade Beach. The average JADE Beach list price per square foot is reflecting $631 PSF down 8% from March’s hopeful highs with the average selling price per square foot reflecting $442 at 99 days on market plus a 90% sale to list price ratio.

Jade Beach Rentals have been in demand especially with season among us reflecting 27 recent Jade Beach condos ranging in rented values from $2,000 (B1 deal) to $5,500 (#3107) which was a great deal for the tenants (see JADE Beach 3107 here). 3 Jade Beach rentals are currently under contract with asking prices ranging from $2,500 (#1606) to $5,300 (#3402) while 22 rentals remain active ranging in asking prices from $3,200 (07 line as B2 models) to $9,900 (#4001). It would have benefited some seller’s to lease their Jade condo residences over the season as demand appeared to be greater than last year for the oceanfront coastline of Sunny Isles Beach.

JADE Ocean Condo Inventory, Sales & Rentals

(http://17121CollinsAvenue.com) JADE Ocean is still early into the corrections all new condo towers must undergo with County records reflecting 62 (UP 23% since last month) recorded deeds or 25% sold. Jade Beach took 1 year to accomplish what it has and were now on month 5 of JADE Ocean acquiring the TCO. Nothing much new to report since few condos have been relisted. There are 4 Jade Ocean condo resales today with a high price on a stellar 2 story Jade Penthouse listed last month at $2.7M with just under 3,200 Interior square feet, 3 bedrooms and 3.5 baths. There are only 2 (C 2’s) in the building and no others comparable in Sunny Isles Beach. I expect it to sell close to asking price in the next 6 months. With an average asking price per square foot of ~$762 for the building, I can’t see paying an extra Million for something similar & obtainable at JADE Beach but time will soon tell us.. This is the critical curve separating value differences between each tower that will be dissected over the next year while sales statistics show us the facts. 

JADE Ocean was sold out on a higher price point offering clear advantages and now noting a needed adjustments to what IS market value as speculators argue these values with Fortune, the FDIC-Starwood to prices they should be closing at (lender appraisals are coming in short). One thing is for sure, the developer is 110% confident in their product and relentless on the contract values standing firm on negotiations. 

There are 8 JADE Ocean rentals listed (via MLS) and the prices are ranging from $3,400 (B1 model) to $8,000 for a 4 bedroom (E model). Nothing has rented yet but I’m certain there will soon be rentals pending & deals happening as the demand is high. A B1 was reported to have rented on a 2 year lease for $2,800. Could JADE Ocean be a superior building worth paying 30% more? We’ll soon find out.. Sunny Isles Beach condo inventory is trending downward consistently each month by 2 to 4%with 1,123 condos for sale and 41 closing in the last 30 days (27.3 month supply).

Sunny Isles Beach Luxury Condo Sales & Statistics

This year 594 Sunny Isles Beach condos have sold via MLS database with an average sale price per square foot at $233. In a contrast comparison of luxury oceanfront condos specific to Collins Avenue, we see  627 condos for sale with 58 closed sales in the last 90 days. This year 219 oceanfront condos have sold via MLS with an average selling price per square foot of $377. If we take only the top 10% of 2009 condo sales we find an average sales price per square foot of $601 and an average asking price per square foot of $695 reflecting an average 12% discount for new buyers in this market. Looking at the 58 closed sales from the last 90 days, we see statistics changing (market improvement?!) relaying a 91% sale to list price ratio or 9% dicount. Irrelevant statistics to some but I find it interesting…

The top Sunny Isles Beach condo sales of November and the first half of December were at Acqualina with #3003 selling at $3.1M ($702 SPSF), and #1405 at $1.2M ($542 SPSF).  The final luxury condo sales were at Ocean Four & Ocean Two selling at $1.130M ($374 SPSF) & $850k ($395 SPSF) respectively.

Have a Happy Holiday Season and the final business goal of 2010 is to complete the new http://TurnberryOceanColonySunnyIsles.com website mirroring the value added services & reporting you find here at http://JadeCondosSunnyIsles.com coming soonWhat else would you like to see reported here on the JADE Blog? Leave a comment and let me know what’s on you mind pertaining to Jade Condos Sunny Isles.

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 Condos Oceanside

Jade Condos Oceanside

JADE Beach Condo Sales, Stats & Inventory for May 2009

Jade Beach oceanside I was told as a rookie agent back in 2002 it’s always best to be the 3rd listing agent. Well it took me another year before I began listing Sunny Isles Beach condos for sale and to this day I don’t believe it to be true. I do believe market knowledge and experience go along way as first agent #1 when listing a luxury condo or any condo and do relate on the extreme difficulties of handling new condo sales in a strong buyers market. JADE Beach Sunny Isles has been interesting to watch as a BIG fan of the developments. I have patiently waited and reported month after month on condo sales, or lack thereof and anticipate good sales to come soon.

As per SEF MLS (S.East Florida Multiple Listing Service), nothing has traded yet in JADE Beach. There are 30 rentals ranging from $3,000 to $9,500 asking. There are also 32 JADE Beach condos for sale (13% Inventory is considered as healthy) and 13 that have expired from the market. So what will it take? Statistics show prices ranging from $520,000 (B1) to $2.450M (E line) with average list price at $670 psf. There is only 1 unit under $500 psf and it’s E-line #4008 which is destined to sell first. There is 1 unit relaying “finished” which is #4104 and asking $1.699M ($697psf). Note: There are NO bank owned or even short sales in JADE Beach. I’ve got simple selling strategies backed by statistics that have worked for other owners in selling other luxury condos in Sunny Isles but I can’t report here as other savvy agents read this. It’s pretty simple and most will agree the #1 answer to making JADE Beach “work” are the asking prices.

When I take customers to JADE Beach Sunny Isles the first impression is WOW!! A brilliant lobby that flows through to the ocean deck captivating open ocean views while relaxing on Fendi furniture… pretty amazing and very special. The floor plans are considered “okay” with the majority narrow and flow through design allowing the best of both sunrise & sunset views. The number 1 complaint from buyers are the corner units (specific to A line) having a master bedroom on the west side rather than waking to an ocean view as the sunrises.  There is Nothing wrong with the JADE building, design, features, floor plans, etc… Not one thing wrong but the price. Here’s why. Sunny Isles Beach has 1,418 total condos for sale as of May 2009. In the last 30 days 69 condos have gone under contract with 40 closed sales occurring meaning a 35.45 month supply. This is an indicator many look at to determine where the market is as a 6 month supply is considered “healthy.” What I prefer to also look at is Days on Market (DOM) and Sale to List Price Ratios. Miami Dade Beaches have inventory down 5% and pending sales up 10% over April. In looking at ONLY Sunny Isles Beach oceanfront and ONLY at new condo buildings built from 2000 and on, we find 704 Sunny Isles condos for sale, 21 pending and 13 closed transactions for a 54.15 month supply.  Average DOM is at 154.93 or 5 months to sell with a Sale to List Price Ratio at 91% (on the rise!)… Here’s where the truth hurts; Average asking price per square foot is at $517 psf with a selling price per square foot at {$317}. Accuracy; as per our MLS database while the average sale price for new, luxury condos ON the ocean is only $434,077. As my favorite “apples to apples” comparison, I use Trump Palace which is well established (Built 2006), financially stable and has an awesome turnover rate. Average days on the market are only 58 DOM while Sale to List Price Ratios average 92%. On 2009 Sold values, average asking list price per square foot is at $566 while average selling price per square foot is at $514.

So here is where it’s going… down, into the mid to high $500’s on asking prices before we start to see transactions occurring. We will see sales in the mid to high $400’s here soon and believe me you’ll see new stats and activity here as soon as there is something worthy. I’m in this for the long run backing JADE Beach & JADE Ocean with knowledge & truth…! Will JADE Beach condos set records? YES, Absolutely. I am a HUGE FAN as you can tell from the site(s). I only want to see great success for JADE Condos of Sunny Isles Beach and a destined success on turnover. The truth is in the numbers. 1.888.383.7326