Tag Archives: Turnberry Ocean Colony

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

Sunny Isles Beach Luxury Condo Sales & Statistics

Sunny Isles Beach condo inventory held constant last month at 1,052 total condos for sale and 35 closed sales in the last 30 days (30 month supply). So far in 2010, 320 Sunny Isles Beach condos have sold via MLS database with an average sale price per square foot at $240 per square foot. In a contrast comparison of luxury oceanfront condos specific to Collins Avenue and over $500k, we see 450 condos for sale with 75 closed sales so far this year averaging a selling price per square foot of $431 psf (Up 8% over last month) and selling at 89% of list price. If we take only the top 10% of 2010 condo sales, we find an average sales price per square foot of $687 and an average asking price per square foot of $786 psf reflecting an average 12% discount for new buyers in the Sunny Isles Beach luxury real estate market. Last year 161 oceanfront condos over $500k sold via MLS with an average selling price per square foot of $420. The top 8 Sunny Isles Beach luxury condo sales from the last 90 days were found at Acqualina with 5 sales reflecting $740, $785, $589 & $649 per square foot. Turnberry Ocean Colony had 3 sales at $733, $660 & $649 per square foot. JADE Beach #4501 sold at $2M ($645 SP/SF) setting a new record resale high..

What is the latest & greatest at JADE Ocean & JADE Beach Miami in June 2010? Sunny Isles Beach condo inventory has decreased 6% year to date while sale to list price ratios are averaging 93% for the month of May. I’ll explore the fine analytics below and continue educating everyone interested in these new oceanfront condo towers known as JADE Beach & JADE Ocean. On to the June 2010 JADE Condo details…

JADE Beach Condo Inventory, Sales & Rentals

(17001CollinsAvenue.com) Fortune has already sold out their inventory as of 2010 1Q after almost two years of occupancy and we are awaiting the turn over to the condo board. We now have 44 (18% inventory) JADE Beach MLS resales ranging in values from $499,000 (Low Floor B1 Model) to an impressive JADE Beach penthouse listing priced at $11M (2 Story Jade Beach Penthouse). JADE Beach condo sales have been reported on the MLS with 9 resale values from $468k (B1 Model at $468 psf) to $2M (E Model at $645 per square foot) setting a new record high in resale values. The average JADE Beach list price per square foot is reflecting $663 psf (Down 1% from May) with the average selling price per square foot reflecting $476 at 153 days on market and an 88% sale to list price ratio (12% average buyer discount). The inquiries have not ceased on the only JADE Beach short sale #1104D which is still pending short sale approval. I expect #1104 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 $1.4M in 2010. This went pending in December and short sales can take an easy 6-9 months!

JADE Beach condo rentals have been in demand as potential buyers test the local market & JADE Beach lifestyle. To date, 42 Jade Beach condos have rented, ranging in rented values from $2,000 (B1 deals) to $7,000 (#1708); 5 Jade Beach rentals are currently under contract with prices ranging from $3,650 (#2602) to $14,000 (#3608); the owner’s representative needs to change the status on #3608 as it’s been pending for months now. There are 24 JADE Beach rentals available ranging in asking prices from $3,000 (02-line as B2 model) to $8,200 (#3208 as E model).

JADE Ocean Condo Inventory, Sales & Rentals

(17121CollinsAvenue.com) JADE Ocean has remaining developer inventory at price points 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 109 recorded deeds (Up 3% since May) or 44% sold. Please Note: there are more sales than this as Miami Dade County takes awhile to record new deeds. Jade Beach took almost 2 years to accomplish a sell out and we’re now entering the 11th month of JADE Ocean acquiring its Certificate of Occupancy. There are 11 Jade Ocean condo 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 $3M) 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 increased in price from $625k to $684k which is 27% over JADE Beach (B1 model) asking values. JADE Ocean’s average asking price per square foot is at ~$743 ($717 psf in May) and today’s buyers are finding the developer inventory moist attractive in the $600’s per square foot. Differences in JADE Ocean & JADE Beach will be dissected this year showing us true market values while new monthly sales statistics show us the latest sales, facts & trends.

JADE Ocean condos were sold out on a significantly higher price point offering clear advantages in amenities & lifestyle. It seems as though Fortune, the FDIC & Starwood amended the asking prices and adjusted to Sunny Isles Beach oceanfront market values. The residential low end market is noting considerable price gains as inventory decreases. 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 prices slowly as sales continue. One thing is for sure, the developer is 100% confident in their product standing firm on current contract negotiations. And why wouldn’t they be firm as JADE Ocean stands among the elite luxury condo towers of Sunny Isles Beach.

There are 18 JADE Ocean rentals listed via MLS and the prices are ranging from $2,575 (#1706) to $7,100 for a 3 bedroom (A model). There have been 7 rented condos ranging in values from $2,400 (B1 model) to $6,500 (E Model) to be solid starting figure in a superior building. I believe JADE Ocean will have a very strong finish by the end of 2010 and we’ll all make notes as each month shows us new figures.

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 Miami Dade County coastline. I’m also accepting new JADE Condo listings to market globally here and on my other sites so please visit MiamiDreamRealty.com (5 Step Marketing) for further details on a superior global marketing plan and efficient results whether selling or leasing your oceanfront condo.

In 1Q 2010, I released a new addition to the Sunny Isles Beach condo collection with TurnberryOceanColonySunnyIsles.com website to replicate the fun & success I’ve had with this JADECondosSunnyIsles.com authority site. Price points at Turnberry 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 10 condos under contract! Here you’ll find new updates, videos & monthly statistics at the Turnberry Ocean Colony blog. The original MiamiDreamRealty.com was revamped showcasing the entire luxury Southeast Florida Regional MLS listing database while the JADE Ocean, JADE Beach & Turnberry Ocean Colony MLS database access has now also been revamped!

All figures derived from the Southeast Florida Regional MLS service

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 & JADE Ocean Condo Sales, Stats & Inventory for February 2010

 After Sunny Isles Beach inventory increased 1% last month, I have also noticed the values increasing from May 2009 lows.. May selling price per square foot reflected $220 psf with 1,425 condos on the market while today, we see the average selling price per square foot reflecting $258 psf for a 15% increase and inventory now at 1,069 or down 25%. Therefore, I continue the new year with a bullish perspective that now is the time. I strongly believe 2010 IS the right time to buy at the bottom for the Miami Dade County oceanfront communities. Sunny Isles Beach condo inventory did increase 1% in the last month and decreased 27% year to date while sale to list price ratios are up to to 95% for the month of January. I’ll explore the fine analytics below and plan to continue educating everyone interested in these uber-modern condo towers known as JADE Beach & JADE Ocean.

 In the month of January, I released the newest addition to the Sunny Isles Beach condo collection with TurnberryOceanColonySunnyIsles.com website to replicate the fun & success I’ve had with this JADE Condo authority site. Price points at TOC have dropped approximately 20% in 2009 alone and sold as low as $1M last year while prices today begin at $1.5M and looking to be doing a fast turn around with numerous recent sales! Now new updates, videos & statistics geared towards the traditional-styled towers of Turnberry Ocean Colony which many customers prefer. Additionally this month, the original MiamiDreamRealty.com is getting an outrageous face lift showcasing the entire luxury MLS listing (coming in the next few days).. On to the details..

JADE Beach Condo Inventory, Sales & Rentals

(http://17001CollinsAvenue.comJADE Beach developer condos have basically sold out after a year of occupancy with few developer units hitting the MLS at clearance pricing. We now have 41 (16%JADE Beach resales ranging in values from $549,000 (Low Floor B1 Model) to an impressive JADE Beach penthouse listing reduced to $4.499M (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 $1.385M (E Model at $431 per square foot)! This seems to be the established pricing trend in the high-$400’s for Jade Beach. The average JADE Beach list price per square foot is reflecting $638psf with the average selling price per square foot reflecting $442 at 99 days on market plus a 90% sale to list price ratio. Jade Beach rentals have been in demand as potential buyers test the tower & lifestyle today reflecting 31 Jade Beach condos ranging in rented values from $2,000 (B1 deals) to $7,000 (#1708); 2 Jade Beach rentals are currently under contract with prices ranging from $5,300 (#3402) to $14,000 (#3608); 14 rentals remain active available ranging in asking prices from $2,700 (06 line as B1 model) to $9,900 (#4001).

JADE Ocean Condo Inventory, Sales & Rentals

(http://17121CollinsAvenue.comJADE Ocean is now getting exciting with price points by the developer hovering in the $600’s psf which I believe to be market values given the luxury product with new County records reflecting 80 recorded deeds (Up 9% since last month) or 32% sold. Note there are more sales than this as the County takes awhile to record. Jade Beach took 1 year to accomplish what it has today and we’re now on month 7 of JADE Ocean acquiring its Certificate of Occupancy. There are 5 Jade Ocean condo resales today with the high price on a spectacular 2 story Jade Penthouse listed November 20th at $2.7M with just under 3,200 Interior square feet, 3 bedrooms and 3.5 baths.. there are only 2 (C-2’s) in the building and no other penthouses comparable in Sunny Isles Beach. With an average asking price per square foot of ~$747 ($762 last month) reflective for JADE Ocean, we will soon see sales. This is the critical curve separating value differences between each tower that will be dissected this year showing us what is truly market value while sales statistics show us the monthly facts. JADE Ocean was sold out on a significantly higher price point offering clear advantages in lifestyle. It seems as though Fortune, the FDIC-Starwood amended their prices adjusted to market values relaying prices at approximately $600psf and going up soon as sales continue. One thing is for sure, the developer is 100% confident in their product standing firm on negotiations. There are 9 JADE Ocean rentals listed (via MLS) and the prices are ranging from $3,000 (high floor B1 model) to $8,000 for a 4 bedroom (E model). The first MLS rental has rented at $4,000 (B2 Model) to be a strong starting figure for a superior building. A B1 Model was reported to have rented on a 2 year lease term for $2,800. I believe JADE Ocean will have a very strong 2010 and you will soon see here too. 

 Sunny Isles Beach Luxury Condo Sales & Statistics

 Sunny Isles Beach condo inventory is significantly trending downward with 1,069 condos for sale and 38 closing in the last 30 days (28.1 month supply). So far in 2010, 49 Sunny Isles Beach condos have sold via MLS database with an average sale price per square foot at $238. In a contrast comparison of luxury oceanfront condos specific to Collins Avenue (over $500k), we see 413 condos for sale with 14 closed sales so far this year averaging a selling price per square foot of $425 psf and selling at 92% of list price. Last year 161 oceanfront condos over $500k sold via MLS with an average selling price per square foot of $420. If we take only the top 10% of 2009 condo sales we find an average sales price per square foot of $626 and an average asking price per square foot of $735 reflecting an average 14% discount for new buyers in this market. Interesting note that 12 of the highest sales were at Turnberry Ocean Colony!

  Looking at the 39 closed oceanfront sales from the last 90 days, we see the sale to list price ratio reflecting a 9% discount and selling within 177 days. Irrelevant statistics to some but I find it interesting… The top Sunny Isles Beach condo sales of the last 90 days were at Acqualina with #PH4501 selling at $4.7M ($740 SP/SF), #3003 selling at $702psf and Turnberry Ocean Colony South Tower #1203 selling at $2.150M ($606 SP/SF) plus 3 other luxury sales at $694, $667 & $535 per square foot respectively. The only luxury condo sale of the last 90 days at JADE Beach selling at $1.370M ($427 SP/SF). What else would you like to see reported here on the JADE Blog? Leave a comment and let me know what’s on you mind pertaining to Jade Condos Sunny Isles. **All data compiled from the SEF MLXChange.


The truth is in the numbers 1.888.383.7326 or direct 786.273.7326.

JADE Ocean Condos for SaleJADE Beach Condos for Sale & Rent

Jade Condos Sunny Isles Beach

JADE Beach & JADE Ocean Condo Sales, Stats & Inventory for January 2010

 Happy New Year friends! As the local consumer confidence gains momentum and great properties take less time to sell with multiple cash offers in place, my philosophy has become far more bullish. I strongly believe 2010 IS the right time to buy at the bottom for the Miami Dade County oceanfront communities. Sunny Isles Beach condo inventory declined 6% in the last month and 22% year to date while sale to list price ratios increased from 88% to 93%. I’ll explore the fine analytics below and hope to continue educating everyone interested in these amazing uber-modern condo towers known as JADE Beach & JADE Ocean. For February, I’ll be releasing a fresh new website to replicate the success of this Jade Condos authority site but geared towards the traditional-styled towers known as TurnberryOceanColonySunnyIsles.com (stay tuned!) where price points begin at $1M and prices have dropped approximately 20% in 2009 alone.

JADE Beach Condo Inventory, Sales & Rentals

(http://17001CollinsAvenue.comJADE Beach developer condos have basically sold out after a year of occupancy with the few developer units remaining hitting the MLS last month at clearance pricing. There are now 35 (14%) JADE Beach resales ranging in values from $549,000 (Low Floor B1 Model) to an impressive JADE Beach penthouse listing reduced to $4.499M (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 $1.370M (E Model at $427 per square foot)! This seems to be the established pricing trend in 2009 for Jade Beach. The average JADE Beach list price per square foot is reflecting $637psf up 1% from December averages with the average selling price per square foot reflecting $442 at 99 days on market plus a 90% sale to list price ratio. 

Jade Beach rentals have been in demand as potential buyer’s test the product reflecting 29 Jade Beach condos ranging in rented values from $2,000 (B1 deal) to $7,000 (#1708) most likely to have been a seasonal rate. 4 Jade Beach rentals are currently under contract with asking prices ranging from $2,500 (#1606) to $14,000 (#3608) while 17 rentals remain active ranging in asking prices from $3,200 (02 line as B2 model) to $9,900 (#4001).

JADE Ocean Condo Inventory, Sales & Rentals

(http://17121CollinsAvenue.comJADE Ocean is still early into the corrections all new condo towers must undergo with County records reflecting 73 (UP 15% since last month) recorded deeds or 29% sold. Jade Beach took 1 year to accomplish what it has and we’re now on month 6 of JADE Ocean acquiring the TCO. Nothing much new to report since very few condos have been relisted. There are 4 Jade Ocean condo resales today with a high price on a spectacular 2 story Jade Penthouse listed November 20th at $2.7M with just under 3,200 Interior square feet, 3 bedrooms and 3.5 baths. There are only 2 (C 2’s) in the building and no other penthouses comparable in Sunny Isles Beach. With an average asking price per square foot of ~$762 reflective for JADE Ocean, I can’t see paying an extra 30% for something similar & (not including the PH units) obtainable at JADE Beach but time will soon tell us.. This is the critical curve separating value differences between each tower that will be dissected over this next year while sales statistics show us the facts. JADE Ocean was sold out on a significantly higher price point offering clear advantages and now noting a needed adjustments to what is truly market value as speculators argue these values with Fortune, the FDIC-Starwood to prices they should be closing at (lender appraisals are coming in short). One thing is for sure, the developer is 100% confident in their product and relentless on the contract values standing firm on negotiations.  

There are 7 JADE Ocean rentals listed (via MLS) and the prices are ranging from $3,400 (B1 model) to $8,000 for a 4 bedroom (E model). Nothing has rented yet but a B2 did go under lease contract with a record high asking price for a 1BR of $3,800. A B1 was reported to have rented on a 2 year lease for $2,800. Could JADE Ocean be a superior building worth paying 30% more? We’ll soon find out..

Sunny Isles Beach Luxury Condo Sales & Statistics

 Sunny Isles Beach condo inventory is trending downward consistently each month (by a significant 6% last month) with 1,065 condos for sale and 32 closing in the last 30 days (33.3 month supply). In 2009 641 Sunny Isles Beach condos have sold via MLS database with an average sale price per square foot at $236. In a contrast comparison of luxury oceanfront condos specific to Collins Avenue, we see 591 condos for sale with 55 closed sales in the last 90 days. Last year 237 oceanfront condos sold via MLS with an average selling price per square foot of $383. If we take only the top 10% of 2009 condo sales we find an average sales price per square foot of $611 and an average asking price per square foot of $709 reflecting an average 14% discount for new buyers in this market. Looking at the 55 closed oceanfront sales from the last 90 days, we see statistics changing (market improvement?!) relaying a 91% sale to list price ratio or 9% discount and selling within 177 days. Irrelevant statistics to some but I find it interesting… 

The top Sunny Isles Beach condo sales of the last 90 days were at Acqualina with #3003 selling at $3.1M ($702 SP/SF), and Turnberry Ocean Colony N #2604 selling at $2.1M ($562 SP/SF) plus 3 other sales at $536, $667 & $541 per square foot respectively.  The final luxury condo sale of the last 90 days was at JADE Beach selling at $1.370M ($427 SP/SF).

What else would you like to see reported here on the JADE Blog? Leave a comment and let me know what’s on you mind pertaining to Jade Condos Sunny Isles. ** All data compiled from the SEF MLXChange.

The truth is in the numbers 1.888.383.7326 or direct 786.273.7326.

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

JADE Beach Condo Sales, Stats & Inventory for September 2009

Jade Beach | Jade Ocean

Jade Beach | Jade Ocean

Jade Beach & Jade Ocean Condos Sales, STATS & Trends

So what’s new & happening in September? Where are the values at today and where are the values headed? I’ll be going over recent sales statistics and trends to try and uncover true values at Jade Beach & Jade Ocean Sunny Isles.

JADE Beach Condos Sales & Rentals

There are 34 (14%) JADE Beach resales ranging in values from $520,000 (Low Floor B Model) to a new penthouse listing at $4.8M (2 Story Jade Beach Trophy Penthouse). 1 Closed Sale is reflective on the MLS (Multiple Listing Service Database) now and it’s unit #4008 (E Model) which sold at $1.385M or about $478 per square foot! Another E unit just sold this month at $1.4M so a new trend and precedence are being established. The average JADE Beach list price per square foot is reflecting $638 PSF down 7% from March highs.

The Jade rentals have been moving along aggressively with 9 recent Jade Beach condos ranging in rented values from $2,000 (#1603 B1 deal) to $4,000 (#2302). 5 Jade Beach rentals are currently under contract with asking prices ranging from $2,250 (#1107) to $5,800 (#4104) while 36 rentals remain active ranging in asking prices from $2,550 (#803) to $10,000 (#3608).

JADE Ocean Condos Sales & Rentals

There is an initial discrepancy via the MLS with JADE Ocean as the correct address at 17121 Collins Avenuereflect only 1 property for sale listed as unit #2206 with an asking price of $675,000. In doing a cross check using the development search of “Jade Ocean” there appears to be 5 condos for sale with a high price on a high E line unit finished out to perfection by Steven G Interiors and an asking price we’re watching closely at $2.995M (~$936 PSF). The average JADE Ocean list price per square foot is reflecting $841. No JADE Ocean rentals are active yet. There are only 3 JADE Ocean Penthousemodels left which range in values from $3.5M (3,667 Total SF) to $9M (5,000+ SF). The $13M trophy Penthouse is now under contract through the developer and we may have the price reflected here soon. I believe it was 8,000 or so interior square feet and was outrageously magnificent inside!

Sunny Isles Beach Luxury Condo Sales Statistics

Sunny Isles Beach condo inventory is trending downward each month by 4% with 1,203 condos for sale and 42 closing in the last 30 days (28.6 month supply). This year 415 Sunny Isles Beach condos have sold via MLS database with an average sale price per square foot at $217. In comparing with luxury oceanfront condos specifically on Collins Avenue, we see  688 condos for sale with 17 closing in the last 30 days. This year 148 oceanfront condos have sold via MLS. If we take only the top 10% of 2009 sales we find an average sales price per square foot of $640 and an average asking price per square foot of $757.  Irrelevant statistics to some but I find it interesting. The top Sunny Isles Beach condo sales of August were at Acqualina with PH4506 selling at $4.999M ($778 PSF), Turnberry Ocean Colony South which sold a beautiful (04 line) residence at only $509 PSF plus set a new record low in the T.O.C. North Tower (02 line) at only $434 PSF (#2902 MINT Condition Interior, Furnished) selling at $970,000! The final luxury condo sale was at Trump Palace which sold #3604 (flow through) at $500 PSF or $1.084M.

The truth is in the numbers 1.888.383.7326 or direct 786.273.7326.

JADE Ocean Condos for sale | JADE Beach Condos for sale & rent

JADE Beach Condo Sales, Stats & Inventory for August 2009

 Well after all this time, JADE Beach has turned out to be a relatively healthy building! Now 9 months of watching and reporting the sales and rentals ARE occurring. I just sold a low floor B2 model unit in JADE Beach on July 31st at an exceptional price point of $458PSF. This was a developer default which was discounted at an asking price of $625,000.  The B2 is a spacious 1 bedroom floor plan with direct ocean views, a larger master bedroom and a small den which is being opened up by the new owner to a grand foyer entryway. I’ll have before & afters coming to you soon in a new post promoting the contractor & designer. As for other activity in Jade Beach condos, there is a B1 supposedly under contract just under $500k. JADE Beach unit #3904 is under contract with an asking price of $1.4M and #4008 is under contract with an asking price of $1.499M. JADE Beach is soon to go on 90% closed and both JADE Beach & JADE Ocean are Fannie May approved! There are 32 (13%) JADE Beach resales (only 2 at JADE Ocean) ranging in values from $520,000 (B Model) to $2.450M (E Model). Very surprising to see the rental prices fall to what I believe great deals at $2,250 for a 1 bedroom.. I’m renting west facing units at Trump Palace for this price! The rental values range today from $2,250 up to $10,000

Jade Beach Pool Deck image

 I met with a very astute JADE Ocean condo buyer tonight who’s closing soon on one of the highest E-model units. He’s prepared to renovate and finish out the interior with the open option of renting or purchasing a finished residence around the month of October. We were discussing the price per square foot tonight and have noted JADE Beach asking around $650-$700 PSF while selling around $450-$500 PSF. I believe JADE Ocean will be comparable with asking prices hovering $850-$1,000 PSF and selling around $650-$800 PSF. The take home message is “time will tell” as everyone is curious as to the values. I will once again use Acqualina and Turnberry Ocean Colony as good 2009 JADE Ocean comparables and noted the 90 day closed sales in each building ranging from a high of $987 PSF (Acqualina #3501) to a low of $447PSF (Turnberry Ocean Colony South Tower #902). Time will soon tell and so far they’ve closed over 30 JADE Ocean residences with scheduled closings happening each week. I’m still awaiting the access & ability to tour JADE Ocean with camera permission and will have this goal completed soon enough so you can see what a great job they’ve done… as the mystery looms. 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.