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JADE Condos Sunny Isles Beach Sales, Stats, & Trends | January 2019

Jade Signature 2018

JADE Condos Sunny Isles Beach Sales, Stats, & Trends | January 2019

Sunny Isles Beach Sales & Statistics

Sunny Isles Beach condo inventory today reflects 1,667 ⬇ total condos for sale and 119 closed sales in the last 90 days with a median sale price value of ⬇ $292 per square foot. With excessive inventory available, condo prices have 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.

Not just new developments but Sunny Isles Beach condo resale inventory has been on the rise, especially within the ultra high-end segment at $5M+. In addition to the residential condo market shifting since 2016 in favor of buyers, we’ve also noted the gorgeous new construction on the South side with JADE Signature development and on the North side with MUSE. New construction has taken over Collins Avenue with oceanfront (resale) median list price values at $652 psf and as high as $4,155 per square foot.

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. In the last 90 days, there have been 47 Sunny Isles Beach condos sold (over $500,000) with an average sale price per square foot at $604 psf (SP$/PSF) or a ~.01% appreciation. Of those 242 sales, it has taken the average seller 182 days to sell.

In a similar comparison of luxury oceanfront condos on Collins Avenue and available over $5M, we see 93 condos for sale today averaging $1,767 per square foot with an average list price of $9.732M; Sold Condos priced $5M+ noted just 7 sales in 2018 with the Median sale price value at $1,223 psf.

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

‘The Top 10’ Sunny Isles Beach Luxury Condo Sales

Reviewing The Top 10 luxury condos sold within the last 90 days, we find an average sale price per square foot of $883 and an average asking price per square foot of $1,150 psf; a 23% discrepancy in what sellers want vs. what buyers are will pay.

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 this year with an anticipated timeline of approximately 12 months 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 being 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 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 values have been noted for both rentals and sales. 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 41 resales (16% inventory) available today ranging from $789,000 (B1 Model) to $7.5M for a ‘Sky Villa’ (Two D2 models combined). The most impressive 3-Story ‘Sky Loft Penthouses’ both 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 $979.
  • There are 41 resales from $789,000 (B1 Model) to $7.5M (Combined D2 Models).
  • 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 value of 2018 is $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 JAN 2019, there are 18 JADE Beach condos for rent ranging in asking prices from $3,200 (B1 model) to $17,000 (E Model). In 2018, 36 Jade Beach condos have rented, ranging in values from $2,800 (B1 Model) to $12,000 (E 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 and “Sky Lofts.” Interiors on these JADE Penthouse condos range from 4 to 5 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 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 $795,000 with larger 5 bedroom options as high as $6.959M.

While some prefer JADE Beach as a place to call home, JADE Ocean condos have consistently sold (& leased) 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 $1,143 psf.
  • There are 49 resales from $795,000 (B1 Model) to $6.959M (Penthouse #4608).
  • 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 is $1,167 psf in 2018, $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 JAN 2019 with prices ranging from $4,500 for a B1 Model to $29,900 for a beautiful 2-Story furnished D2 Model. In 2018, 23 condos rented ranging in values from $3,300 (Unfurnished B1 model) to $10,500 (furnished A 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 desirable open outdoor living environments. With the details, completion, and closings now behind us, there are MANY listed as resale. The discounts and new 2019 deals have begun to show after 6+ months as speculators and their representatives begin to learn true market values from price reductions and lack of results.

Just like Porsche Design Tower, Jade Signature will continue to show awesome value for the area. Why? A healthy building is considered less than 10% – today Jade Signature has 59 units or 31% available with many owners soon 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. The developer and pre-construction specialists who sold this beautiful development are done celebrating. So now, in 2019… its time to deliver on their promises for profit.

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 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 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 $1,413 psf.
  • My forecast for upcoming 2019 resale values is approximately $1,200.
  • There has been only 2 resales noted on unit #1805 & recently #4105 selling at $1,227 psf & to my surprise, $1,053 psf.

Jade Signature Rentals consist of 13 options ranging in values from $6,000 (1 BR) to $19,900 for a 5 Bedroom. Last year, 11 condos have rented from $7,000 (1 BR) to $15,000 (3 & 4 BR).

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

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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!

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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 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 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.