July 3, 2014 Centercon Team

Aventura’s Priciest Condos Resell at 8% Discount in 2013

Buyers achieved an average discount of eight percent off of the original asking price for Aventura’s priciest luxury condo resales in South Florida to transact in the first quarter of 2013.

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Between January and March of 2013, buyers – in unrelated transactions – paid a combined $14.9 million – an average of about $435 per square foot – for the 10 priciest luxury condo resales in the Aventura market, which stretches from the Broward County line south to Northeast 163rd Street, and the Intracoastal Waterway west to Biscayne Boulevard, according to an analysis by the licensed Florida brokerage.

Prior to the transactions, these luxury condo units were originally put on the resale market for a combined $16.2 million for an average of more than $470 per square foot, according to an analysis based on Florida Realtors association data.

This is a ranking of Aventura’s 10 priciest condo resales – with a minimum asking price of $1.2 million – to transact between January and March of 2013. Please note the rankings are based on the resale price, and the discounts are based on the original asking price.

RANK PROJECT AREA BEDS RESALE PRICE DISCOUNT

RANK PROJECT AREA BEDS RESALE PRICE DISCOUNT
1 Bellamare Aventura 4 $1,800,000 -4%
1 One Island Place Aventura 5 $1,800,000 -4%
3 Hidden Bay Aventura 4 $1,615,000 -25%
4 Bellamare Aventura 3 $1,580,000 -6%
5 Bellamare Aventura 3 $1,579,000 -6%
6 The Peninsula II Aventura 4 $1,400,000 -3%
6 The Peninsula Aventura 3 $1,400,000 -13%
8 Hamptons South Aventura 3 $1,339,000 -1%
9 Hamptons South Aventura 3 $1,225,000 -2%
10 Williams Island 7000 Aventura 3 $1,200,000 -5%

As of May 16, 2013, less than 20 condo resales – with a minimum asking price of $1.2 million – are under contract in Aventura waiting to transaction at a median asking price of nearly $440 per square foot, according to the data. An additional 120 luxury condo resales – with a minimum asking price of at least $1.2 million – are actively available on the market in Aventura at a median asking price of more than $525 per square foot, according to the data.

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