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JADE Condos Sunny Isles Sales and Trends | September 2019

Sunny Isles Beach Sales & Statistics

Sunny Isles Beach condo inventory today reflects 1,625 total condos for sale and 168 closed sales in the last 90 days with a median sale price value of $283 per square foot. With excessive inventory available, condo prices continue to declined in our local market as we find in the most recent Sunny Isles Condo Index.

Oceanfront residential market values noticed considerable price gains over the eight years spanning from 2009 to 2016. From early 2016 to now in 2019, we find ample supply with limited demand in this strong buyer’s market. For instance, dividing 51 condo sales over the last 30 days into our inventory of 1,625, we find a 32-month supply whereas a healthy market is 6 to 9 months of inventory.

New developments and Sunny Isles Beach resale inventory have been on the rise, especially within the high-end market segment at $5M+. In addition to the residential condo market shifting since 2016 in favor of buyers, we’ve also witnessed the gorgeous new developments on the South side with JADE Signature and on the North side with MUSE. New construction has taken over Collins Avenue with $5M+ oceanfront (resales) median list price values at $1,621 psf and as high as $4,155 per square foot.

Sunny Isles Beach Condo Inventory 5M+ 5-Year History

Sunny Isles Beach Sept 2019 Inventory

Last year, 242 Sunny Isles oceanfront condos sold (over $500,000) with an average sale price per square foot of $600 and at 91% of list price. Year to date, there have been 200 Sunny Isles Beach condos sold (over $500,000) with an average sale price per square foot at $621 psf (SP$/PSF) or a ~3% appreciation. Of those 200 sales, it has taken the seller 201 days to sell.

In a similar comparison of luxury oceanfront condos on Collins Avenue and available over $5M, we see 82 condos for sale today averaging $1,702 per square foot with an average list price of $8.660m.

Sold Condos priced $5M+ noted 5 sales in 2019 with the Median sale price value at $1,830 psf. Of the five sales, the Jade Signature Penthouse set a new area record as we will see below.

Values will climb again with time, but for now, the market is in strong favor of the buyer with exceptional values noted.

‘The Top 10’ Sunny Isles Beach Luxury Condo Sales

Reviewing The Top 10 luxury condos sold within the last 180 days, we find an average sale price per square foot of $1211 and an average asking price per square foot of $1,418 psf; a 15% discrepancy in what sellers want vs. what buyers are willing to pay.

  • JADE Signature Sold #3001 & #2905 for $4.1m ($1,207 psf) & $3.735m ($1,272 psf) respectively/PH as the 2019 (record high sale)  $2,015 psf 
  • Aqualina Sold #3703 at $3.5m / $793 psf
  • Turnberry Ocean Colony Sold #1804 at $3.375m / $904 psf
  • JADE Beach Sold #4304 at $3.1m / $749 psf
  • Trump Palace Sold Penthouse #5509 at $3.785m / $914 psf
  • Porsche Design Tower (5 Sales) #5205, #3605, #905, #3704, & #5004 each selling at $1,633 psf, $1,830 psf, $1,981 psf, $761 psf & $1,278 psf respectively.

JADE Beach Condo Trends

Jade Beach EntryJADE Beach (17001 Collins Avenue) has ongoing construction as concrete restoration resumes to the East side of the building with an anticipated timeline of approximately another year to complete. With this Jade Beach restoration, we’ve experienced ongoing construction debris & noise nuisances which have impacted values both for rent and resale. The major short-term concerns are the East side terraces and swimming pool completely closed off with a blue translucent film covering the glass and limiting the desirable ocean views. The Westside is reopened with the small pool and west side terraces available again for use. This construction has created a major damper on renting as tenants simply don’t have the mental capacity and patience to deal with concrete restoration, limited views and the inability to use their terrace and pool.

It will be interesting to see rental & resale values continuing throughout this year as super low values have been noted for both rentals and resales. While short-term concerns have many alarmed, savvy buyers with a long-term outlook see past the noise and towards the future upside of Jade Beach and Sunny Isles Beach.

Jade Beach today has 29 resales (12% inventory) available today ranging from $789,000 (B1 Model) to $5.5M for a ‘Sky Villa’ (Two D2 models combined). The most impressive 3-Story ‘Sky Loft Penthouses’ each sold in 2015. Jade Beach condos offer one of the most attractive Collins Avenue locations plus excellent value when seeking the oceanfront lifestyle experienced only in Miami.

Jade Beach Condos for Sale | Condos for Rent

  • The average JADE Beach list price per square foot reflects $986.
  • There are 29 resales from $789,000 (B1 Model) to $5.5M (Combined D2 Models).
  • In 2019 (YTD), 5 resales have occurred with a median sale price per square foot of $764 psf and 230 days on market.
  • JADE Beach condos sold in 2018 reflect 10 sales at a median sale price value of $818 psf and 178 days on market.
  • The median selling price per square foot in 2017 (7 total sales) was $877 at 243 days on market.
  • The median selling price per square foot in 2016 (8 total sales) was $1,010 at 219 days on market.
  • The record high sale price per square foot value of 2019 is $812, 2018 at $1,003, 2017 at $1,014 PSF — $1,129 PSF in 2016, $1,378 PSF in 2015, and $1,190 PSF in 2014.

As of SEPT 2019, there are 18 JADE Beach condos for rent ranging in asking prices from $3,900 (B1 model) to $14,500 (D2 Model). In 2019 (YTD), 16 Jade Beach condos have rented, ranging in values from $3,000 (B1 Model) to $14,500 (C Model).

JADE Ocean Condo Trends

Jade Ocean Sunny Isles Beach MiamiJADE Ocean (17121 Collins Avenue) stands among the elite luxury condo towers of Sunny Isles Beach.

JADE Ocean has 49 (20% inventory) condo resales available today with a few extraordinary penthouses. Interiors on these JADE Penthouse condos range from 4 to 5 Bedrooms and from 4,300 to over 6,518 square feet. There are only 2 mirrored image ‘Sky Lofts’ (per Model) in each JADE Condo building, and very few penthouses can compare along Sunny Isles Beach. Today’s resale prices at Jade Ocean begin with 1 bedroom condos (B1&B2 floor plans) from $799,000 with larger 6 bedroom options as high as $6.850M.

While some prefer JADE Beach as a place to call home, JADE Ocean condos have consistently sold & leased at higher price points offering clear advantages to many.

Jade Ocean Condos for Sale | Condos for Rent

  • The average JADE Ocean list price per square foot is $1,148 psf.
  • There are 49 resales from $799,000 (B1 Model) to $6.850M (#4604).
  • In 2019 (YTD), 12 sales have occurred with a median sale price per square foot of $839 psf and 324 days on market.
  • In 2018, 5 condos sold from $1.425M to $2.9M (C & E Models) at a median Sale Price value of $958 PSF and 107 days on market
  • The median selling price per square foot in 2017 (11 total sales) was $991 PSF at 216 days on market.
  • The median selling price per square foot in 2016 was $1,087 at 137 days on market.
  • The record high sale price value of 2019 is $1,009 psf, in 2018, $1,169 PSF in 2017,  $1,267 PSF in 2016, $1,513 PSF in 2015, and $1,397 PSF in 2014.of 2019 is $812,

There are 20 JADE Ocean rentals listed in SEPT 2019 with prices ranging from $4,200 for a B1 Model to $26,000 for a beautifully furnished (2-Story) D2 Model. In 2019 (YTD), 16 condos have been rented ranging in values from $3,600 (Furnished B1 model) to $18,000 (Furnished D2 Model).

JADE Signature Condo Trends

Jade Signature Condos Sunny Isles

JADE Signature (16901 Collins Avenue) was completed early in 2018 and I’ve been excited about this ‘Signature’ addition along Sunny Isles Beach. Jade Signature offers spacious floor plans and expansive outdoor living environments. With the completion and closings behind us, there are many listed as excellent resale opportunities. The discounts and deals are apparent now 18 months post-delivery as speculators and their representatives begin to understand true market values from price reductions and lack of results in selling. On the flipside of that statement, a Jade Signature Penthouse #5503 just sold for $18.5M ($2,015 psf) setting the area records for an existing Sunny Isles Beach condominium.

Similar to Porsche Design Tower, Jade Signature will continue to show exceptional value for Florida’s Riviera. Why? A healthy building is considered less than 10% – today Jade Signature has 59 units or 31% available with many owners becoming landlords. My information is not always easy to digest but most importantly, I am honest and given my analytical approach, quite accurate. With now seventeen years experience brokering South Florida real estate, I’ve gone through the bubble burst of 2006-2009 successfully assisting many pre-construction buyer/speculators to make the right move… rinse & repeat now in 2019.

Jade Signature Condos are quite spacious and I am extremely bullish on the long-term success and future demand.

Contact me here to discuss an optimal strategy whether selling or leasing but in order of a successful outcome as a new owner:

  1. Enjoy the condo, it is new, spacious, and beautiful!
  2. Finish the interior, rent the condo, and ride out this strong buyer’s market – your losses will likely have tax advantages with profit on resales noted by 2022.
  3. Try to be the best-priced unit in your tier as the 2019 condo market dictates ‘real’ market values – any loss will hopefully be offset by currency conversion.

“We sold $51 million worth of units in the first quarter. The building, which launched sales in 2013, is “95% or 96% sold out.” – Carlos Defortuna

Jade Signature Condos for Sale | Condos for Rent

  • Today’s new pricing has a median list price per square foot of $1,379 psf.
  • My forecast for upcoming 2020 resale values is approximately $1,200+. Although the PH sale set an area record, this will not be the case on the majority of resale units; see Top Ten resale values above.
  • There have been 5 sales noted this year on PH #5503 selling at $2,015 psf setting a new area record at $18.5M. The other four sales had a median sale price value at $1,233 psf and 332 days on market.

Jade Signature active rentals consist of 13 options ranging in values from $6,500 (1 BR+Den) to $25,000 for a 5 Bedroom. In 2019 (YTD), 13 condos have rented from $4,300 (1 BR) to $18,000 (4 BR).

Contact me here to discuss a strategy whether buying, selling, or leasing for an optimal game plan this new year.

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Jade Sunny Isles Beach Condos | Sales and Statistics February 2018

Jade Condos Sunny Isles

Jade Sunny Isles Beach Condos | Sales & Statistics February 2018

Sunny Isles Beach Sales & Statistics

Sunny Isles Beach condo inventory today reflects 1,437 ⬆ total condos for sale and 113 closed sales in the last 90 days with a median sale price value of $335 per square foot. Overall, condo prices have declined in our local market as we find in the most recent Sunny Isles Condo IndexOceanfront real estate values noticed considerable price gains over the eight years spanning from 2009 to 2016 and now in 2018, we find ample supply with limited demand in this strong a strong buyer’s market.

In addition to the residential condo market shifting since 2016 in favor of buyers, we also note the new construction on the South side of Jade Beach with Jade Signature development and on the North side of Jade Ocean with MUSE. With concrete restoration and building maintenance at both Jade Beach & Ocean Towers, we’ve experienced the ongoing construction debris and noise nuisances for a few years now which have temporarily impacted values both for rent and resale. While short-term concerns have some alarmed, savvy buyers with a long-term outlook see past the noise and towards the future of Sunny Isles Beach.

Not just development but also Sunny Isles Beach condo inventory has been on the rise, especially within the ultra high-end segment. New construction has taken over Collins Avenue with oceanfront resale values beginning at $853 and as high as $3,827 per square foot. Last year, 183 Sunny Isles oceanfront condos sold (over $500,000) with an average sale price per square foot of $706 and at 91 percent of list price. As of FEB 2018, 16 Sunny Isles Beach condos have sold (over $500,000) with an average sale price per square foot at $722 SP$/PSF ~ 2.3% appreciation. Of those 16 sales, it has taken the average seller 230 days to sell.

In a similar comparison of luxury oceanfront condos on Collins Avenue and priced over $1M, we see 514 condos for sale today averaging $1,029 per square foot with an average list price of $3.273M. Values will climb again with time, but for now, the market is strongly in favor of the buyer.

Reviewing The Top 10 luxury condos sold within the last 90 days, we find an average sold price per square foot of just $805 and an average asking price per square foot of $909 PSF.

‘The Top 10’ Sunny Isles Beach Luxury Condo Sales

JADE Beach Condo Inventory, Sales & Rentals

Jade Beach Sunny Isles Beach MiamiJADE Beach (17001 Collins Avenue) has an ongoing construction issue as concrete restoration resumes to the East side of the building early this year with an anticipated timeline of approximately a full year to complete. The major (short-term) concern is the East side terraces and swimming pool will be completely closed off with a blue translucent film covering the glass and limiting the ocean views. The Westside is to soon be reopened with the small pool and west side terraces available again for use. This is putting a major damper on renting as tenants simply don’t have the mental capacity to deal with concrete restoration, limited views and the inability to use the terrace and pool. It will be quite interesting to see rental & resale values this year.

Jade Beach today has 35 resales (14% inventory) available today ranging from $805,000 (B1 Model) to $8.2M for a ‘Sky Villa’ (Two D2 models combined). The famous 3-Story ‘Sky Loft Penthouses’ both sold in 2015. Jade Beach condos offer the most desirable Collins Avenue location plus excellent value when seeking the oceanfront lifestyle experienced only in Miami.

Jade Beach Condos for Sale | Condos for Rent

  • The average JADE Beach list price per square foot reflects $1,046 ($1,211 PSF in AUG 2016).
  • There are 35 resales from $805,000 (B1 Model) to $8.199M (Combined D2 Models).
  • JADE Beach condos sold in 2017 reflect 7 sales at a median sale price value of $877 PSF and 283 days on market.
  • The median selling price per square foot in 2016 was $950 at 241 days on market.
  • The record high sale price value last year was $1,014 PSF and $1,055 PSF in 2016, $1,378 PSF in 2015, and $1,190 PSF in 2014.

As of FEB 2018, there are 32 JADE Beach condos for rent ranging in asking prices from $3,500 (B1 model) to $20,000 (E Model). Last year, 18 Jade Beach condos rented, ranging in values from $2,700 (B1 Model) to $14,000 (E Model).

JADE Ocean Condo Inventory, Sales & Rentals

Jade Ocean Sunny Isles Beach MiamiJADE Ocean (17121 Collins Avenue) stands among the elite luxury condo towers of Sunny Isles Beach. JADE Ocean has 46 (18% inventory) condo resales available today with a few extraordinary penthouses and “Sky Lofts” listed from PH4405 listed at $4.290M to PH4608 listed at $8.375M.  Interiors on these JADE Penthouse condos range from 4 to 6 Bedrooms and from 4,300 to over 6,500 square feet. There are only 2 mirrored image ‘Sky Lofts’ (per Model) in each JADE Condo building, and only a few penthouses can compare along Sunny Isles Beach. Today’s resale prices at Jade Ocean begin with 1 bedroom condos (B1&B2 floor plans) from $885,000 to $1.375M respectively.

While some prefer JADE Beach as a place to call home, JADE Ocean condos have consistently sold at a higher price point offering clear advantages to many.

Jade Ocean Condos for Sale | Condos for Rent

  • The average JADE Ocean list price per square foot is $1,178 ($1,275 PSF in AUG 2016).
  • There are 46 resales from $885,000 (B1 Model) to $8.375M (Penthouse #4608).
  • In the last 90 days, 2 sales occurred from $1.425M to $2.250M (C & E Models).
  • JADE Ocean had 11 condo sales last year at a median sale price per square foot of $991 PSF (9% depreciation YOY) averaging 216 days on market.
  • The median sold price per square foot in 2016 was $1,087 at 137 days on market.
  • The record high sale price value was $1,169 PSF in 2017,  $1,267 PSF in 2016, $1,513 PSF in 2015, and $1,397 PSF in 2014.

There are 21 JADE Ocean rentals listed in FEB 2018 with prices ranging from $3,850 for a furnished B1 Model to $32,000 for a 2-Story furnished D2 Model. Last year 29 condos rented ranging in values from $3,500 (furnished B1 model) to $11,500 (furnished A Model).

JADE Signature Condo

Jade Signature Sunny Isles Beach MiamiJADE Signature (16901 Collins Avenue) is ready and complete now in early 2018 and I am quite excited for this great new development in Sunny Isles Beach. Jade Signature offers incredible floor plans and desirable open outdoor living environments. With the crews working full force on completion, I’ve been watching over the last 90 days as the film was removed from the glass and the landscaping installed. Jade Signature is very special!

In all honesty, the discounts and deals will begin to show within a few months upon closing as initial resales become available and speculators learn true market value. Porsche Design Tower had 40 PERCENT as resale available and guess how many sold last year? THREE.

Jade Signature Condos are quite spacious and I am bullish on the long-term success and future demand. Feel free to contact me to discuss strategy but in summary, and in order of a successful outcome as a new owner is to:

  1. Enjoy the condo. It is beautiful!
  2. Finish the interior, rent the condo, and ride out this strong buyer’s market. Your losses will likely have tax advantages.
  3. Try to be the best-priced unit in your tier as the 2018 condo market dictates true market values. Any loss will hopefully be offset by currency conversion.

The developer and pre-construction specialists who sold the tower are beginning to celebrate. So now… its time to deliver on promises.

“We sold $51 million worth of units in the first quarter. The building, which launched sales in 2013, is “95% or 96% sold out.” – Carlos Defortuna

Jade Signature Condos for Sale

  • Today’s prices have a median list price per square foot of $1,689.
  • My forecast for upcoming 2018 resales: approximately $1,200.

My information is not always easy to digest but most importantly, I am honest and accurate. Contact me here to discuss strategy whether buying, selling, or leasing.

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Whether you’re seeking a stunning Miami Beach penthousethe ultimate waterfront estate, land for development, off-market & investment opportunities, new construction, bulk condo sales, or relocation assistance, I’ll have it customized and ready for you. Over 16 Years Experience – I’m a South Florida real estate broker-associate with the leading firm, ONE Sotheby’s International RealtyWhy Sotheby’s? Because of the brand heritage, prestige, vast global reach in curating luxury goods including premier real estate, and their propensity for perfection. Since 2002, I’ve been active in the South Florida residential & commercial markets with experience and white-glove service that rarely disappoints.

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JADE Beach, JADE Ocean, JADE Signature Condo Sales, Statistics, Inventory | November 2014

JADE Beach, JADE Ocean, JADE Signature Condo Sales, Statistics, Inventory | November 2014

Jade Signature Interior to Exterior

Sunny Isles Beach Luxury Condo Sales & Statistics

Prices are still increasing in our local market as we see in the most recent Sunny Isles Condo Index. Since the last JADE update in June, we find select inventory appreciating in value and new construction stepping in with values beginning at $1,400 – $2,000+ per square foot. Sunny Isles Beach condo inventory has increased to 827 total condos for sale and 200 closed sales in the last 90 days. Last year 387 Sunny Isles oceanfront condos over $500,000 USD sold through our MLS database with an average selling price per square foot of $617. As of November 2014, 300 Sunny Isles Beach condos have sold with an average sale price per square foot at $686 SP$/PSF. In a contrast comparison of luxury oceanfront condos on Collins Avenue and priced over $1M, we see 271 condos for sale with 177 closed sales this year averaging a sales price per square foot of $799 SP$/SF and selling at 93% of list price.

If we take the top 10 luxury condo sales from the last 90 days, we find an average sales price per square foot of $1,145 (9% increase from $993 previous post) and an average asking price per square foot of $1,255 psf reflecting an average 9% discount for new buyers shopping for luxury real estate in Sunny Isles Beach. These Top 10 Sunny Isles Beach luxury condo sales were found at JADE Ocean with 4 sales reflecting $1,259, $1,278, $1,355 and $1,397 per square foot. Other luxury sales came from Ocean Two selling a high floor 3 bedroom at $1,236 PSF, Trump Palace & Trump Royale selling at $969 and $928 per square foot respectively. Trump Tower III & I also had sales at $1,059 & $956 PSF.  Turnberry Ocean Colony (South) had a great sale at $1,016 to finalize these Top Ten recent sales.

Sunny Isles Beach oceanfront real estate market values are noting considerable price gains over these last 5 years and what the future holds, time will tell. With new projects, preconstruction and condo developments, Sunny Isles Beach condo inventory is increasing while sale to list price ratios are averaging 95% and 145 days on the market. One thing is for certain with the new construction (Jade Signature) on the South side of Jade Beach and on the North side (MUSE) of Jade Ocean. The 01 and 08 lines respectively are in trouble as more & more owners decide they don’t want to deal with the view obstruction and the ongoing & upcoming noise. These new towers are certain to jeopardize resale values during the development stage while residents undergo considerable noise, dust and new disgruntled competition. I’ll be reporting on trends and values from the 01 line and 08 lines directly facing these new construction towers very soon. Again, Jade Signature to the South and MUSE to the North. While short term concerns have many alarmed, smart long term buyers will see past the noise and towards the future of Sunny Isles as values could climb much higher, as long as the views are not completely obstructed. The ‘new views’ will be considered East & West alone as the urban transformation allows no other option within these end lines.

JADE Sunny Isles Condos Trends & Sales 2014

 

JADE Beach Condo Inventory, Sales & Rentals

(17001CollinsAvenue.com) There are a total of 20 (10% inventory) JADE Beach resale condos ranging in values from $890,000 (B1 Model) to $10M. TWO impressive 3-Story JADE Beach penthouse ‘Sky Lofts’ are available today at $9.595M & $10M. Each interior is over 8,200 SF (Contact me for the floor plans).

Search Jade Beach Condos for Sale  |  Search Jade Beach Condos for Rent

JADE Beach condos have been in demand given the most desirable location & value with a luxury lifestyle expected & experienced in Miami. The average JADE Beach list price per square foot is reflecting $1,218 psf (Up 2% from June Stats) with the 90-day average selling price per square foot reflecting $899 at 187 days on market and an 94% sale to list price ratio (6% average buyer discount). JADE Beach condo sales for 2013 reflect 24 resales from $720k (B1 Model at $835psf) to $7.450M (I Model penthouse at $907 per square foot) setting a record high in JADE Beach ‘sale price’ values. Last year’s average selling price per square foot reflects $902 at 121 days on market and an 93% sale to list price ratio. So far in 2014, we have 18 sales averaging $1,004 per square foot and 123 days on the market with a 7% buyer discount. $1,190 per square foot is the record high sale value for 2014.

In November, there are 13 JADE Beach condos for rent ranging in asking prices from $4,250 (B2 model) to $20,000 (4BR, E Model). This year, 12 Jade Beach condos rented, ranging in rented values from $3,053 (B1 Model) to $19,000 (Furnished E Model).

JADE Ocean Condo Inventory, Sales & Rentals

(17121CollinsAvenue.com) JADE Ocean stands among the elite luxury condo towers of Sunny Isles Beach with what remains to be a great desire & demand. JADE Ocean has 30 condo resales available today with the high prices on 3 spectacular 2-Story Jade Ocean Trophy properties and “sky lofts” listed from $5.895 to $6.499M with 4-6 Bedrooms and from 3,866+ to over 5,000+ square feet. There are only 2 mirrored image ‘Sky Loft’ units per Model in each JADE building and few other penthouses quite comparable in Sunny Isles Beach. The lowest priced resale condos today begin with a high floor B1 model priced from $980,000.

Search Jade Ocean Condos for Sale  |  Search Jade Ocean Condos for Rent

JADE Ocean’s average asking price per square foot is at $1,470 ($1,444 in June & $1,482 psf January) and today’s buyers are finding the larger model floor plans most attractive setting new record highs at $1,288 PSF for the E Model. This year, 8 sales have occurred from $1.030M (B1 Model) to $7.070M (Jade Ocean Penthouse). Unit #3601 sold last December at $3.4M setting a new record high for JADE Ocean. 2013 Selling price per square foot averaged $1,018 while selling at 93% of list and 136 days on market. As of 2014, the average selling price per square foot is up 8% in appreciation reflecting $1,267 with 162 days on market and buyers getting an averaged 8% discount off asking values.

There are 12 JADE Ocean rentals listed in November with prices ranging from $4,200 (B1 Model) to $35,000 for a furnished 4 bedroom. This year 12 condos have rented ranging in values from $4,700 (B1 model) to an E Model renting at $15,900 and beautifully furnished.

JADE Ocean & JADE Beach interior differences are not so significant other than kitchen counter finishes (Granite vs. Quartz), slightly better floor plans along with the amount of glass encompassing the walls throughout. Other amenity differences are shown through photos & videos here. While some prefer JADE Beach as a place to call home, JADE Ocean condos have always sold on a higher price point offering clear advantages to some in amenities & lifestyle.

JADE Signature Condo … coming soon

(16901 Collins Avenue) JADE Signature is on its way in making History for luxury + function + lifestyle in Sunny Isles Beach. The concerns that owners addressed with both Jade Beach & Jade Ocean have now been confronted & cleared at Jade Signature with incredible floor plans offering desirable open outdoor living environments. Construction is ongoing with groundbreaking commenced and the crew working full force in the progress of the final addition to the JADE Sunny Isles Condo Trio.

Search Jade Signature Condos for Sale 

More to come soon but today’s prices are over $1,400 per square foot increasing with a graduated scale as sales continue.. All 1 bedrooms have sold out (with a waiting list to buy) while only larger 3+ bedrooms remain. To buy a condo today at JADE Signature, call me for available pricing #305.978.7704 or inquire here Jade Signature Condos for Sale.

List Your Properties with Ashton Coleman

Time to Showcase Your Condominium to the World. I provide strong International exposure with global marketing and an Internet savvy style like no other. Local market knowledge goes a very long way as customers want to know the market conditions in Sunny Isles Beach. I have a proven track record along the Miami Beaches and I’m available to market your JADE property effectively right here on the JADE Condos authority website & blog plus my many other websites displayed below. Additionally, I’m with ONE Sotheby’s International Realty with a prestige, exposure and marketing channels that are beyond the extraordinary. For further details on a superior marketing strategy and efficient results whether selling or leasing your oceanfront condo, reach out to me today and let’s begin.

If you would like to discuss Miami real estate, please call me direct at #305.978.7704. I’m a Miami area real estate specialist with over 12 years of experience.  Since 2002, I’ve marketed, sold & serviced Sunny Isles Beach to South Beach along with Aventura to Coral Gables.  When you’re ready to schedule a meeting with me, contact my office at 786.27.DREAM or toll free at 888.38.DREAM to make an appointment or simply send me a note here.

In 2010, I released a new addition to the Sunny Isles Beach condo collection with TurnberryOceanColonySunnyIsles.com to replicate the success and fun I’ve had with the JADECondosSunnyIsles.com authority website. Price points at Turnberry Ocean Colony dropped approximately 20% in 2009 alone and showed us sales as low as $1M in 2009 while sale prices today have increased significantly with an exceptional market turnaround. Here you’ll also find new updates, videos & detailed statistics at the Turnberry Ocean Colony blog.

The original MiamiDreamRealty.com is a major performer showcasing the entire luxury Southeast Florida MLS listing database and over 250 Miami condo buildings (500+ customers daily) while the JADE Ocean, JADE Beach & Turnberry Ocean Colony MLS database access contains very accurate JADE Condo listings for anyone looking to buy or rent. 2014 statistics have show us the fact of continued appreciation in condo sales with trends showing Miami to be a very strong market. Stay tuned to the JADE Blog and other authority websites below!

RECEIVE MY BLOG UPDATES DIRECTLY TO YOUR INBOX, SUBSCRIBE HERE!

List Your Property to Sell:

ONE Sotheby’s International Realty & Ashton Coleman | Local Prestige. Global Marketing.

JADE Beach | JADE Ocean | JADE Signature Condo Sales, Statistics & Inventory for April 2014

Sunny Isles Beach Luxury Condo Sales & Statistics

Prices are still increasing in our local market. Since the last JADE update in January, we find premier inventory escalating in value and new construction stepping in with values beginning at $1,400 – $2,000+ per square foot. Sunny Isles Beach condo inventory has increased to 801 total condos for sale and 196 closed sales in the last 90 days.

Last year 387 Sunny Isles oceanfront condos over $500,000 USD sold through our MLS database with an average selling price per square foot of $617. As of April 2014, 104 Sunny Isles Beach condos have sold with an average sale price per square foot at $667 SP$/SF. In a contrast comparison of luxury oceanfront condos specific to Collins Avenue and over $1M, we see 259 condos for sale with 57 closed sales this year averaging a sales price per square foot of $787 SP$/SF and selling at 94% of list price.

If we take the top 10 luxury condo sales from the last 90 days, we find an average sales price per square foot of $1,055 (6% appreciation from $996 previous post) and an average asking price per square foot of $1,146 psf reflecting an averaged 8% discount for new buyers shopping in the Sunny Isles Beach luxury real estate market. These top 10 Sunny Isles Beach luxury condo sales were found at JADE Ocean with 2 sales reflecting $1,288 and $1,085 per square foot. Other luxury sales came from JADE Beach with 1 Sale reflecting $1,190 PSF. Turnberry Ocean Colony with 4 sales at $1,221, $1,004,$950 & $1,024 PSF. Acqualina ($1,057 psf), Trump Palace ($986 psf) and lastly, Oceania V selling a trophy penthouse at $749 per square foot. Sunny Isles Beach oceanfront real estate market values are noting considerable price gains over these last 3 years.

What are the latest sales & the very best condo deals at JADE Ocean & JADE Beach Miami as of April? With new projects, preconstruction and condo developments, Sunny Isles Beach condo inventory is increasing while sale to list price ratios are averaging 95% and 221 days on the market for the prior month of March. JADE Condos specifics..

JADE Beach Condo Inventory, Sales & Rentals

(17001CollinsAvenue.com) There are a total of 23 (9% inventory) JADE Beach resales ranging in values from $850,000 (B1 Model) to TWO impressive 3-Story JADE Beach penthouse ‘Sky Lofts’ now repriced at $9.595M & $8.7M. Each interior is over 8,200 SF (contact me for the floor plans).

JADE Beach condos have been in demand given the most desirable location and lifestyle experience. The average JADE Beach list price per square foot is reflecting $1,196 psf (Up 8% from January Stats) with the 90 day average selling price per square foot reflecting $1,015 at 144 days on market and an 93% sale to list price ratio (7% average buyer discount). JADE Beach condo sales for the year 2013 reflect 24 resales from $720k (B1 Model at $835psf) to $7.450M (I Model penthouse at $907 per square foot) setting a record high in JADE Beach ‘sale price’ values. Last years average selling price per square foot reflects $902 at 121 days on market and an 93% sale to list price ratio (7% average buyer discount).

In April, there are 18 JADE Beach condos for rent ranging in asking prices from $4,500 (B2 model) to $50,000 (Jade Beach 4BR, E Model). Last year, 22 Jade Beach condos rented, ranging in rented values from $3,200 (B1 Model) to $11,500 (Furnished E Model).

JADE Ocean Condo Inventory, Sales & Rentals

(17121CollinsAvenue.com) JADE Ocean stands among the elite luxury condo towers of Sunny Isles Beach with a great demand in ownership. JADE Ocean has 26 condo resales today with the high prices on FOUR spectacular 2-Story Jade Ocean Trophy properties and “sky lofts” listed from $6.975 to $8.790M with 4-5 Bedrooms and from 4300+ to over 6,500+ square feet. There are only 2 mirrored image ‘Sky Loft’ units per Model in each JADE building and few other penthouses quite comparable in Sunny Isles Beach. The lowest priced resales today begin with a B1 model priced from $1.049M. JADE Ocean’s average asking price per square foot is at $1,477 ($1,482 psf January Stats) and today’s buyers are finding the larger model floor plans most attractive with very limited inventory setting new record highs at $3.4M for the E Model. This year, only 2 sales have occurred from $3.2M (E model) to $7.070M (Jade Ocean Penthouse). Unit #3601 sold in December at $3.4M setting a new record high at $1,200+ per square foot for JADE Ocean. 2013 Selling price per square foot averaged $1,018 while selling at 93% of list and 136 days on market.

There are 10 JADE Ocean rentals listed in April with prices ranging from $5,000 (B1 Model) to $14,500 for a furnished (D Model) 3 bedroom. This year 4 condos have rented ranging in values from $4,700 (B1 model) to a C Model which rented at $7,500 furnished.

JADE Ocean & JADE Beach interior differences are not so significant other than kitchen counter finishes (Granite vs. Quartz), slightly better floor plans along with the amount of glass encompassing the walls throughout. Other amenity differences are shown through photos & videos here. While some prefer JADE Beach as a place to call home, JADE Ocean condos have always sold on a significantly higher price point offering clear advantages to some in amenities & lifestyle.

JADE Signature Condo … coming soon.

(16901 Collins Avenue) JADE Signature is on its way in making History for luxury + function. The concerns that owners addressed between Jade Beach & Jade Ocean have now been addressed at Jade Signature with incredible floor plans & outdoor living environments to long for. Construction is ongoing with groundbreaking commenced and the crew working full force in the progress of the final addition to the JADE Sunny Isles Condo Trio.

More to come soon but today’s prices are over $1,437 per square foot with a graduated scale on increases this year as sales continue.. so far, all 1 bedrooms have completely sold while only 2 2 bedrooms remain available. To buy a condo today at JADE Signature, call me for available pricing. 1.888.383.7326 or inquire here Jade Signature Condos for Sale.

New 2014 statistics show us the latest in sales, facts & trends so stay tuned to this JADE Blog and authority site.

Ready to Sell or Lease Your Property at JADE

In Miami, your results are heavily dependent on the broker or Realtor® that you choose to market and sell your luxury condo. When hiring someone to sell or lease your JADE condo, look for strong global marketing with local market knowledge and a proven track record along Sunny Isles Beach. I’m available to market globally right here on the JADE website & blog plus my many other websites such as the MiamiBeachRealEstateBlog.usMiamiDreamRealty.com and the new MiamiPenthousesandEstates.com. For further details on a superior marketing strategy and efficient results whether selling or leasing your oceanfront condo reach out to me today and let’s begin.

In 2010, I released a new addition to the Sunny Isles Beach condo collection with TurnberryOceanColonySunnyIsles.com website to replicate the success I’ve had with the JADECondosSunnyIsles.com authority website. Price points at Turnberry Ocean Colony dropped approximately 20% in 2009 alone and showed us sales as low as $1M in 2009 while sale prices today have increased ~100% and noting an exceptional market turnaround. Here you’ll also find new updates, videos & detailed statistics at the Turnberry Ocean Colony blog.

The original MiamiDreamRealty.com is a major performer showcasing the entire luxury Southeast Florida MLS listing database and over 220 Miami condo buildings (500+ customers daily) while the JADE Ocean, JADE Beach & Turnberry Ocean Colony MLS database access contains very accurate JADE Condo listings for anyone looking to buy or rent. Leave a comment and let me know your thoughts regarding JADE Beach, JADE Ocean & JADE Signature Sunny Isles or any other luxury condo tower along the Miami Beach coastline.

 

Jade Signature Living Rendering

If you would like to discuss Miami real estate, please contact my office at 786.27.DREAM or toll free at 888.38.DREAM to make an appointment. I’m a Miami area real estate specialist.  Since 2002, I have sold & serviced Sunny Isles Beach to South Beach along with Aventura to Coral Gables.  If you would like to schedule a meeting with me, please feel free to call me directly at (305) 978-7704 or send me a note here.

RECEIVE MY BLOG UPDATES DIRECTLY TO YOUR INBOX, SUBSCRIBE HERE!

Don’t Miss Today’s News from Our Other Real Estate Websites & Blogs:

JADE Beach & JADE Ocean Condo Sales, Statistics & Inventory for March 2011

Sunny Isles Beach Luxury Condo Sales & Statistics

A lot has changed with our local market since the last JADE update in 4Q 2010. Sunny Isles Beach condo inventory has decreased to 989 total condos for sale and 53 closed sales in the last 30 days (18 month supply). Last year 184 oceanfront condos over $500k sold via MLS with an average selling price per square foot of $447. So far in 2011, 165 Sunny Isles Beach condos have sold via MLS database with an average sale price per square foot at $258 per square foot. In a contrast comparison of luxury oceanfront condos specific to Collins Avenue and over $500k, we see 427 condos for sale with 41 closed sales so far this year averaging a selling price per square foot of $506 psf and selling at 92% of list price. If we take the top 10 of 2011 luxury condo sales, we find an average sales price per square foot of $732 and an average asking price per square foot of $849 psf reflecting an average 12% discount for new buyers in the Sunny Isles Beach luxury real estate market. The top 10 Sunny Isles Beach luxury condo sales from the last 90 days were found at Acqualina with 3 sales reflecting $945, $822 & $658 per square foot. Turnberry Ocean Colony had 5 sales at $733, $643, $696, $667 & $667 per square foot. Trump Palace had an 09-line sale at $557 psf & I sold a Penthouse at Trump Royale for $530psf. JADE Beach & JADE Ocean had 4 sales at $451, $420, $565 & $577 per square foot.

What are the latest happenings & the very best condo deals at JADE Ocean & JADE Beach Miami in March 2011? Sunny Isles Beach condo inventory has decreased 8% over last month while sale to list price ratios are averaging 92% for the prior month of February. 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 March 2011 JADE Condo details…

JADE Beach Condo Inventory, Sales & Rentals

(17001CollinsAvenue.com) JADE Beach condos are sold out of Fortune’s developer inventory (2010) after two plus years of occupancy. We now have 35 (14% inventory) JADE Beach resales ranging in values from $619,000 (Low Floor B1 Model) to an impressive 3 Story JADE Beach penthouse ‘Sky Loft’ resale priced at $10.9M (I-line Penthouse Floor Plan). The average JADE Beach list price per square foot is reflecting $712 psf (Up 7% from December) with the average selling price per square foot reflecting $515 at 175 days on market and an 89% sale to list price ratio (11% average buyer discount). JADE Beach condo sales have been reported on the MLS with 12 resale values in 2010 from $470k (B1 Model at $499 psf) to $2M (E Model at $645 per square foot) setting a new record high in resale values.

In March, there are 18 JADE Beach condos for rent ranging in asking prices from $2,800 (#1202 as B2 model) to $10,000 (#3605 as D-model). JADE Beach condo rentals have been in demand as new residents test the local market & JADE Beach lifestyle. To date, 71 Jade Beach condos have rented, ranging in rented values from $2,000 (B1 deals) to $15,000 (#3608); 2 Jade Beach rentals are currently pending contract with #1201 & #801 (A-models) reflecting asking prices of $4,500 & $5,000 respectively.

JADE Ocean Condo Inventory, Sales & Rentals

(17121CollinsAvenue.com) JADE Ocean has great developer inventory with price points hovering in the $600+’s psf. I believe these to be reasonable market values given the latest Sunny Isles Beach condo sales & trends of this luxury condominium tower. Jade Beach took almost 2 years to accomplish a sell out and we’re now approaching the second year of JADE Ocean acquiring its Certificate of Occupancy. There are 19 Jade Ocean condo resales today with the high price on a spectacular 2-Story Jade Ocean Penthouse “sky loft” listed $6.9M with over 5,000 square feet and 4 bedrooms along with a slightly smaller luxury JADE penthouse priced at $4.995M with just over 4,000 total square feet, 4 bedrooms and 4.5 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 B-1 model priced at $625,000 and a few B-2 models asking $775k to $925k asking values. JADE Ocean’s average asking price per square foot is at $765 ($779 psf in December) and today’s buyers are finding the developer inventory most attractive in the $600’s per square foot.

There are 15 JADE Ocean rentals listed in March and the prices are ranging from $3,000 (#2506) to $32,900 for a 5 bedroom, 2-Story furnished Penthouse. There have been 24 rented condos ranging in values from $2,575 (B1 model) to $9,500 (E Model) to be solid rental figures in this superior Sunny Isles Beach building. I believe JADE Ocean will sell out this year and will blog on updates as each report shows us new 2011 figures.

JADE Ocean & JADE Beach interior differences are not significant other than kitchen counter finishes (Granite vs. Quartz) while other amenity differences are uncovered through photos & videos here while the frequent blog research shows us true market values. New monthly sales statistics show us the latest sales, facts & trends so please stay tuned to this JADE Blog and authority site. JADE Ocean condos were sold out on a significantly higher price point offering clear advantages in amenities & lifestyle. It seems as though Fortune amended the asking prices quite well to todays Sunny Isles Beach oceanfront market values. The residential low end market is noting considerable price gains as inventory decreases and sales increase under $300k. JADE Ocean stands among the elite luxury condo towers of Sunny Isles Beach with an enormous International demand.

I’m Available to Showcase Your Property at JADE

In Miami, it’s not so much the brokerage name recognition but instead more so dependent on the agent or Realtor® you choose 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 available to get started and accepting new JADE Condo listings to market globally right here on the JADE website & Blog plus my many other websites such as MiamiDreamRealty.com. For further details on a superior marketing plan and efficient results whether selling or leasing your oceanfront condo visit the 5 Step Marketing Plan today.

In 1Q 2010, I released a new addition to the Sunny Isles Beach condo collection with TurnberryOceanColonySunnyIsles.com website to replicate the success I’ve had with the JADECondosSunnyIsles.com authority website. 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 2 condos pending sale this month. Here you’ll also find new updates, videos & monthly statistics at the Turnberry Ocean Colony blog. The original MiamiDreamRealty.com is a top performer showcasing the entire luxury Southeast Florida MLS listing database with 500+ customers daily while the JADE Ocean, JADE Beach & Turnberry Ocean Colony MLS database access have also been revamped with most accurate condo listings for sale and rent. Leave a comment and let me know your thoughts 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!

Jade Beach Penthouse 3 Level Sky Loft

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

I’ve missed the April report.. With the new websites, I am bombarded with customers and condo sales so I’ve been working on building the Miami Dream team of real estate professionals. Sunny Isles Beach inventory held constant last month at 1,052 total condos for sale. Sunny Isles Beach condo inventory has decreased 26% year to date while sale to list price ratios are up to an average 94% for the month of April. I’ll explore the fine analytics below and continue educating everyone interested in these uber modern condo towers known as JADE Beach & JADE Ocean.

At the start of 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 this JADECondosSunnyIsles.com authority site. Price points at Ocean Colony had dropped approximately 20% in 2009 alone and have sold as low as $1M last year while prices today begin at $1.390M and noting fast turnaround with 14 condos under contract! Here you’ll find new blog updates, videos & monthly statistics at Turnberry Ocean Colony which some people seem to prefer over Jade Beach & Jade Ocean. The original MiamiDreamRealty.com was revamped showcasing the entire luxury Southeast Florida Regional MLS listing database while the JADE Ocean, JADE Beach & Turnberry Ocean Colony MLS database access is also being revamped in 10 days! On to the MAY 2010 JADE Condo details…

JADE Beach Condo Inventory, Sales & Rentals

(http://17001CollinsAvenue.com) JADE Beach developer (Fortune) has sold out after almost two years of occupancy and we are awaiting word of it turned over to the condo board. We now have 43 (17%) JADE Beach resales ranging in values from $510,000 (Low Floor B1 Model) to an impressive JADE Beach penthouse listing priced at $11M (2 Story Jade Beach Trophy Penthouse). JADE Beach condo sales have been reported on the MLS with values from $468k (B1 Model at $468 psf) to $1.420M (E Model at $442 per square foot). This has been the established pricing trend, in the $400’s, for Jade Beach. The average JADE Beach list price per square foot is reflecting $670 psf (Up 3% over March) with the average selling price per square foot reflecting $449 at 153 days on market and an 89% sale to list price ratio (11% average buyer discount). The inquiries have not ceased on the only JADE Beach short sale #1104D which is still pending short sale approval. I do expect it to 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 $1.2M in 2010. This went pending in December and short sales can take an easy 6-9 months!

JADE Beach rentals have been in demand as potential buyers test the local market & JADE Beach lifestyle. To date, 36 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 $3,650 (#2602) to $14,000 (#3608); the agent needs to change the status on #3608 as it’s been pending for months now. There are 30 JADE Beach rentals active-available ranging in asking prices from $2,950 (07-line as B2 model) to $8,200 (#3208).

JADE Ocean Condo Inventory, Sales & Rentals

(http://17121CollinsAvenue.com) JADE Ocean has price points by the developer hovering in the $600+’s psf. I do believe this to be market values given the uber luxury product with new County records now reflecting 106 recorded deeds (Up 11% since March) or 44% sold. Please Note: there are more sales than this as Miami Dade County takes awhile to record deeds. Jade Beach took almost 2 years to accomplish a sell out and we’re now entering the 10th month of JADE Ocean acquiring its Certificate of Occupancy. There are 11 Jade Ocean resales today with the high price on a spectacular 2 Story Jade Ocean Penthouse “sky loft” listed November 20th at $2.7M (now priced at $2.8M) with just over 3,700 total square feet, 3 bedrooms and 3.5 baths.. There are only 2 (C-2’s) in the building and no other penthouses comparable in Sunny Isles Beach other than JADE Beach. The lowest priced resale is a B1 model priced at $625k which is 18% over Jade Beach B1 asking values. With an average asking price per square foot of ~$717 ($747 psf in March), reflective for JADE Ocean, we should soon see new activity. This is the critical curve separating value differences between each tower that I’m interested in deciphering. Differences will be dissected this year showing us what truly is market values while sales statistics show us the latest sales, facts & trends.

JADE Ocean was 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 them to Sunny Isles Beach oceanfront market values. The residential low end market is noting price gains as inventory decreases. Talk of 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 increasing 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 as JADE Ocean stands among the elite condo towers of Sunny Isles Beach.

There are 10 JADE Ocean rentals listed via MLS and the prices are ranging from $2,600 (#1803) to $7,100 for a 3 bedroom (A model). There have been 5 rented condos ranging in values from $2,500 to $5,000 (B2 Model) to be a strong starting figure for a superior building. I believe JADE Ocean will have a very strong finish this year and we’ll all make notes as each month shows us new figures.

Sunny Isles Beach Luxury Condo Sales & Statistics

Sunny Isles Beach condo inventory is reflecting 1,052 condos for sale and 50 closings in the last 30 days (21 month supply). So far in 2010, 245 Sunny Isles Beach condos have sold via MLS database with an average sale price per square foot at $225 per square foot. In a contrast comparison of luxury oceanfront condos specific to Collins Avenue and over $500k, we see 455 condos for sale with 55 closed sales so far this year averaging a selling price per square foot of $396 (down 1% over last month) psf and selling at 90% of list price. If we take only the top 10% of 2010 condo sales, we find an average sales price per square foot of $606 and an average asking price per square foot of $701 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. Looking at the 39 closed oceanfront condo sales from the last 90 days, we see the sale to list price ratio reflecting an 11% buyer discount and selling within 224 days. The top Sunny Isles Beach luxury condo sales of the last 90 days were found at Acqualina with #3903/4 selling at $2.6M ($589 SP/SF), JADE Beach #3308 selling at $1.420M ($442 SP/SF) and Trump Palace #3901 selling at $1.270M ($593 SP/SF).

What else would you like to see reported here on the JADE Condo Blog? 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 Dade County coastline. I’m also eager to market new JADE Condo listings here and on my other sites so please visit MiamiDreamRealty.com (5 Step Marketing) for details on superior global marketing and efficient results whether selling or leasing your condo.

JADE Ocean Swimming Pool

JADE Beach Condo Sales, Stats & Inventory for June 2009

jun09-1311

 What’s new in June… JADE Beach Condo rentals total 30 available ranging from $2,600 (B-Line) to $9,500 (E-Line SE Corner). Nothing per MLS has rented or sold with 32 Jade Beach condos for sale (13% Inventory is considered as healthy) and 13 that have now expired from the market. Jade Beach condo values range from $520,000 (B1-Line) to $4.5M for a 2-Story JADE Penthouse (H-Line). The average price per square foot is now at $665 psf (1% decrease over last month) with a high at $887 psf and a low at $467 psf. Note: There are NO bank owned or any short sales available in JADE Beach.

 There are a select few Jade Beach condos priced under $500 psf with the NE Corner #4008 (E line) still in the lead. I’ve been showing it as much as possible along with others such as the A-line in which the biggest complaint is the master bedroom on the west side of the building. There are only 2 units reflecting being completed with one as wood and the other reflecting porcelain (?) tile and wood in the bedrooms. Please don’t let me buyers see wire closets in Jade!

 This weekend I met with great buyers currently renting at La Perla  and JADE Beach was the number one on their initial short list. They were looking for a 3-4 bedroom and I knew they had great taste after requesting to see JADE. I picked 8 of the best condos available along  Sunny Isles Beach with the goal to educate them on buildings, values and deals.. so here’s what unfolded. After a day of looking at the best buildings, Jade Beach was unimpressive other than PH-H (asking $4.5M) which was a fluke in showing and not even in their price range. Their number one choice was Trump Royale based on an incredible 3,000 SqFt unit (1 of only 6) priced at $1.9M ($630 psf) with a master bedroom the size of most living rooms and a closet the size of most dens. The second on the list was a 2-Story Tower Suite with rooftop deck at Trump Palace ($824 psf) which had a few unique factors such as allowing nightly rentals (with great income potential) at an estimated $1,000 night. Third on the list came to Ocean 4 ($505 psf) which has gone through major renovations with an owner who has spent $300,000 on interior upgrades and has never lived in the condo! All 3 are highly motivated and 2 are distressed sales with 2 major buy factors standing out among the rest… either completely finished and/or special unique factors such as a spiral staircase leading to the master terrace with inevitably high ‘jacuzzi tub’ views of the ocean.. other factors included a master bedroom the size of a living room and a closet the size of most dens. 

 This photo above is the newly completed JADE OceanI’ll have an inside tour soon so I’ll be able to share the finished product with you in an upcoming blog post. They must have received their TCO by now with what appears to be 2 for sale ranging from $1.450 (B2-line) to $1.9M. Yes, very excited on JADE Ocean but rumor has it the interior lobby of JADE Beach is superior…?! How can you beat the JADE Ocean flow through pool and the oceanfront entryway? Very enticing and soon to be one of the most desirable developments along the FL coast. The truth is in the numbers 1.888.383.7326.

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

JADE Beach Condo Sales, Stats & Inventory for March 2009

Jade Beach Condos Sunny Isles JADE Beach condo inventory for the month of March shows us 27 units on the market ranging from $2.450M (4/4) to $599k (1/1.5). Average asking price per square foot is at $683 with an average list price at $1.416M.

JADE Condo resales… There hasn’t been any and why is this?

I’m going to rant here since nothing in JADE Beach has sold… If you’d like a market snapshot for Sunny Isles Beach real estate we see 14 new “luxury condos” sold within the last 90 days (2005+, ocean direct) with an average asking price per square foot at $544 and selling price per square foot at $485. The Sunny Isles Beach SP/LP (Sale to List Price) Ratio% is at 91% with an average of 177 days on the market.  Taking Trump Palace condos for example, we see an good above average turnover rate with 5 condos selling in the last 90 days at $510 psf and an average asking price per square foot at $592. Additionally, condos priced well at Trump Palace sell at an average of only 63 DOM (days on market) and at 93% of list price.. Trump Palace’s younger, more modern sister building Trump Royale, has not had any resales either however Trump Royale has a multitude of unsold developer units whereas JADE Beach does not; and I say this with the understanding from the developer’s rep that over 79% of JADE Beach has been sold. The point here is not that new developments will sit empty with unsold units, but more so the fact that the Sunny Isles Beach 2009 real estate market is not ready to come up to $683 PSF for JADE Beach condo resales that are unfinished (decorator ready).

Is there still smoke and mirrors on the overall average values and resale potential at JADE Beach?

Okay, I understand the JADE Beach resale values are fueled on “that’s what I paid for it” and “that’s what the developer (or my agent) thinks I could get for it” or even the valued point that JADE Beach is a far better building than Trump Palace and not comparable in the current “sold” values above.  Could it be…?

Okay then, so let’s step up the Sunny Isles Beach market snapshot to what some would argue to be the best luxury condo residences for services, amenities and resale values… Turnberry Ocean Colony. Turnberry Ocean Colony has had 2 closed sales in the last 90 days with 2 under contract at an average list price per square foot at $542 and average closed sale PPSF at only $492! Turnberry Ocean Colony #2401 was sold (by yours truly) in September 2008 at $712 PSF and then just over the holidays the prices dropped to what are reflecting in the 01 (Abaco) line today at an average “asking” price per square foot at $690 psf.

Jade Beach Jade Ocean Sunny Isles These last 3 years 6 months have been the nose dive many new true investors were hoping for with luxury condos selling in the 400’s. Everyone including myself were truly hopeful that JADE Beach would have initial resale values in the $700 to $800 PSF range while JADE Ocean resale values would top $1,000 PSF mark and set new area records. I still concur that JADE Ocean will set area records or stay parallel with Turnberry Ocean Colony, however each must be priced WITH the market. We’re still pulling through a market correction, inventory glut and bad press from the media. Vital signs (inventory + SP/LP%) are in a positive direction for the Sunny Isles & Miami Beach market snapshot and my cup is always half full.

There are some realistic unit owners that have priced their JADE Beach condos with the market to sell.. ie) #4008 (E line $482 psf), #1508 (A line $595 psf) #1904 (D line $520 psf), #1104 (D line $582 psf). Believe me, I’m all for JADE Beach condos and the soon to be released JADE Ocean, otherwise I would have never spent thousands on this site & blog or countless hours writing, editing and creating good content. I LOVE THE JADE BUILDING(S) with a fiery passion and they are where my focus (& money) is being spent. I’m simply ready to see resale action.

The truth is in the numbers. 1.888.383.7386.