Latest Continuum Closed Sales Demonstrate the inherent Value of Premier South Beach Waterfront Condominiums
Posted on | August 24, 2010 | No Comments
Summarizing the latest sales data for the Continuum North and South Towers, it is our belief that the South Beach condo market reached a bottom from mid to late 2009. We see increasing indications that sales have stabilized, as evidenced by increasing buyer activity and slight price increases at the lower price spectrum for two bedroom condos in both the North and South Towers ($1.5 M and below). Also, due to the rapid absorption of price-reduced inventory, the short-selling era is coming to an end for these premier luxury waterfront buildings in Miami Beach. The wave of buyers that are currently purchasing are ALL solid & credit-worthy high net worth individuals. We’re expecting incremental price appreciation in 2011, as lower-end inventories continue to diminish at The Continuum, as well as for the overall South Beach luxury condo market.
Lastest Sales Data: Continuum North Tower @ just under $1,000/S.F.!
Address: 50 S. Pointe Drive, Condominium #2503, Miami Beach, FL 33139
Condominium Description: Two-bedroom, 1,922-square-foot condo + terraces. Desirable and sought-after 2 bedroom 2.5 bath, SW corner unit at the Continuum North Tower. Views of the Ocean, Biscayne Bay, Downtown Miami and Miami Beach from one of four large balconies. This designer appointed condominium with teak wood floors, custom furniture, designer rugs and electronic drapes along with a centralized high-end entertainment system.
CLOSED Price: $1.88 million, $979 per square foot
Average Sales Prices 2010 YTD at The Continuum Condominium (as of August 31, 2010):
- Continuum North Tower- 13 Condos Sold for an average sales price of $1,054 per square foot
- Continuum South Tower- 16 Condos Sold for an average sales price of $770 per square foot
| ADDRESS | Unit# | Closed Date | List Price | Sales Price | SP$/LP$ | Acutal $/SqFt | Living Area |
|---|---|---|---|---|---|---|---|
| Continuum South # 502 | 502 | 2/8/2010 | 795,000 | 745,000 | 93.711 | 620.316 | 1,201 |
| 50 S POINTE DR # 508 | 508 | 4/14/2010 | 945,000 | 580,000 | 61.376 | 584.677 | 992 |
| 100 S POINTE DR # 1901 | 1901 | 3/9/2010 | 1,150,000 | 1,160,000 | 100.87 | 729.101 | 1,591 |
| 100 S POINTE DR # 2201 | 2201 | 7/15/2010 | 1,200,000 | 1,160,000 | 96.667 | 729.101 | 1,591 |
| 100 S POINTE DR # 1001 | 1001 | 3/19/2010 | 1,200,000 | 1,150,000 | 95.833 | 722.816 | 1,591 |
| 50 S Pointe Dr # 905 | 905 | 6/30/2010 | 1,295,000 | 1,200,000 | 92.664 | 706.714 | 1,698 |
| 50 S POINTE DR # 1006 | 1006 | 5/26/2010 | 1,399,000 | 1,250,000 | 89.35 | 736.16 | 1,698 |
| 100 S POINTE DR # 2801 | 2801 | 6/20/2010 | 1,399,000 | 1,275,000 | 91.136 | 801.383 | 1,591 |
| 100 S POINTE DR # 1409 | 1409 | 3/18/2010 | 1,400,000 | 1,310,000 | 93.571 | 821.317 | 1,595 |
| 100 S POINTE DR # 1109 | 1109 | 4/14/2010 | 1,499,000 | 1,400,000 | 93.396 | 877.743 | 1,595 |
| 100 S POINTE DR # 3705 | 3705 | 3/1/2010 | 1,549,000 | 1,350,000 | 87.153 | 752.928 | 1,793 |
| 100 S POINTE DR # TH-12 | TH-12 | 7/19/2010 | 1,550,000 | 1,350,000 | 87.097 | 613.079 | 2,202 |
| 100 S POINTE DR # 2302 | 2302 | 2/19/2010 | 1,600,000 | 1,530,000 | 95.625 | 881.844 | 1,735 |
| 100 S POINTE DR # 2808 | 2808 | 2/2/2010 | 1,650,000 | 1,400,000 | 84.849 | 877.743 | 1,595 |
| 100 S POINTE DR # 710 | 710 | 2/18/2010 | 1,675,000 | 1,500,000 | 89.552 | 706.88 | 2,122 |
| 100 S POINTE DR # 2105 | 2105 | 8/18/2010 | 1,675,000 | 1,200,000 | 71.642 | 642.055 | 1,869 |
| 100 S POINTE DR # 908 | 908 | 12/20/2009 | 1,695,000 | 1,372,000 | 80.944 | 780.876 | 1,757 |
| 100 S POINTE DR # 1008 | 1008 | 5/14/2010 | 1,700,000 | 1,550,000 | 91.177 | 882.186 | 1,757 |
| 100 S POINTE DR # TH11 | TH11 | 6/30/2010 | 1,790,000 | 1,250,000 | 69.832 | 567.666 | 2,202 |
| 100 S POINTE DR # 2502 | 2502 | 7/22/2010 | 1,790,000 | 1,575,000 | 87.989 | 907.781 | 1,735 |
| 50 S POINTE DR # 2503 | 2503 | 8/6/2010 | 2,200,000 | 1,880,000 | 85.454 | 978.148 | 1,922 |
| 50 S POINTE DR # 2105 | 2105 | 3/26/2010 | 2,500,000 | 2,100,000 | 84 | 1092.612 | 1,922 |
| 50 S POINTE DR # 3104 | 3104 | 4/16/2010 | 2,875,000 | 2,550,000 | 88.696 | 1105.811 | 2,306 |
| 50 S POINTE DR # 2902 | 2902 | 6/30/2010 | 3,499,000 | 3,040,000 | 86.882 | 1159.863 | 2,621 |
| 50 S Pointe Dr # 1001/8 | 1001/8 | 2/1/2010 | 3,500,000 | 3,250,000 | 92.857 | 929.368 | 3,497 |
| 50 S POINTE DR # 3302 | 3302 | 4/30/2010 | 3,599,000 | 3,000,000 | 83.356 | 1033.414 | 2,903 |
| 50 S POINTE DR # 2901 | 2901 | 6/4/2010 | 3,750,000 | 3,350,000 | 89.333 | 1278.138 | 2,621 |
| 50 S POINTE DR # 2701 | 2701 | 6/18/2010 | 3,895,000 | 3,500,000 | 89.859 | 1335.368 | 2,621 |
| 50 S POINTE DR # TWN6 | TWN6 | 1/29/2010 | 4,353,000 | 3,482,400 | 80 | 1200.414 | 2,901 |
| 100 S POINTE DR # 3804-5 | 3804-5 | 12/28/2009 | 5,650,000 | 6,250,000 | 110.62 | 1179.245 | 5,300 |
Comments
Leave a Reply
Archives
Categories
Gallery
